Geylang development up for collective sale for $27mil
Baode Building, an eight floor residential development at 8 Lor Thirty Five Geylang, has recently been put up for en bloc by having a suggestive amount of $27 mil, exposed Colliers Int’l.
This puts together to a ground cost of roughly $9hundred 89 per square ft per PR or $9hundred 67 psf per plot proportion since taking into account the 7 % perk veranda GFA.
The free lease project offers 14 accomodation units also inhabits a 1,031.4 square meter site that is zoned for institutional or non commercial use within the 2K19 Master Plan with a gross PR of 2.8. The place similarly carries an allowable highness of up to eight levels.
Baode Building stands close-by Paya Lebar Mass Rapid Transit interchange station plus is linked up to the KPE and PIE.
The development is at the same time alongside Singpost Centre, Paya Lebar Square and Paya Lebar Quarter Shopping mall, meantime close-by institutions involve Geylang Methodist Pri School and Kong Hwa Pri School.
“This location exhibits a fantastic potential for freshen up or rearranging the possession given that it is located nearby the Paya Lebar zone exactly where the URA Master Plan ideate to generate Paya Lebar Central toward a dynamic business hub,” reported Steven Tan, ED of Investment Services at Colliers International.
“The rare free rental period of the place in addition makes sure long-term peace of mind for makers, in particular at this sort of a primary occupation community,” he included.
The collective sale transaction offer for Baode Building ceases on 18Aug.