Geylang development up for collective sale for $27mil
Baode Building, a 8 storey non commercial development at Eight Lorong Thirty Five Geylang, has been launched for collective sale with an indicative amount of $27 mil, communicated Colliers Int’l.
This attains to a ground rate of around $9hundred 89 per square feet ppr or $Nine hundred Sixty Seven psf per lot proportion after including the Seven percent additional patio GFA.
The freehold development features 14 housing flats and also fills a 1,031.4 sq m location that is allocated for household or institutional purpose within the 2K19 Master Plan with a total lot proportion of 2.8. The place likewise receives an allowed altitude of as high as 8 floors.
Baode Building lies close-by Paya Lebar Mass Rapid Transit interchange terminal furthermore is attached to the Kallang-Paya Lebar Expressway and also PIE.
The development is similarly alongside Singpost Centre, Paya Lebar Square and PLQ Shopping mall, whereas proximate academies involve Geylang Methodist Primary Sch and also KHPS.
“This plot owns a fantastic potential for shifting the property or renovating since it is located near the Paya Lebar zone exactly where the Urban Redevelopment Authority Master Plan envisage to cultivate Paya Lebar Central in the direction of through to a bustling business hub,” shared Steven Tan, Executive Director of IS at Colliers International.
“The uncommon freehold tenure of the site potentially makes sure extended confidence for property developers, particularly at this type of a major occupation location,” he included.
The en bloc sale bidding for Baode Building terminates on 18Aug.