GSM Building at 141 Middle Road has been launched for en bloc sale at…
GSM Building at 141 Middle Road has been launched for en bloc sale at a base cost of $98 million. It is the very first business site to be introduced since the removal of some “lockdown” procedures on June 2.
The building, a corner double-frontage tower fronting Middle Road, has a remaining lease term of approximately 61 years. The site, with an acreage of 12,003 sq ft, is zoned for business use with a 4.2 plot ratio as well as a height constraint of up to 16 floors, based on planning authorization.
The structure has three retail units on the level one and 30 office units on the upper levels. It is within a five-minute stroll to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line and Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Furthermore, the building remains in close distance to shopping center such as Bugis Junction, Bugis+, Bugis Village and also Sim Lim Square. There are also numerous schools in the precinct, consisting of Singapore Management University, School of the Arts, Lasalle College of Arts and also Nanyang Academy of Art.
The buyer will certainly gain from upcoming changes in the Bugis, Bras Basah and Beach Road vicinity. Mixed-used development Guoco Midtown by GuocoLand and luxurious residential condo The M by WingTai Asia are being built at the moment. Under URA’s Draft Master Plan 2019, brand-new park spaces and streetscape improvements will certainly be presented in Bugis, and Kampong Bugis along Kallang River will certainly likewise be established as a car-lite residential precinct with around 4,000 units.
The tender exercise shuts at 3pm on July 16. The commercial property is marketed by Dairy Farm Residences Mount Everest Quality.