GSM Building at 141 Middle Road has actually been launched for en bloc
GSM Building at 141 Middle Road has actually been launched for en bloc sale at a base price of $98 million. It is the first commercial site to be launched since the removal of some “circuit breaker” efforts on June 2.
The property, a corner double-frontage tower facing Middle Road, has a balance lease term of about 61 years. The site, with a land area of 12,003 sq ft, is zoned for commercial use with a 4.2 plot ratio and also a height constraint of as much as 16 floors, based on planning authorization.
The building has three retail shops on the level one and 30 workplace units on the upper levels. It is within a five-minute walk to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line as well as Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Furthermore, the Florence Residences building is in close proximity to mall such as Bugis Junction, Bugis+, Bugis Village and also Sim Lim Square. There are also numerous educational institutions in the area, consisting of Singapore Management University, School of the Arts, Lasalle College of Arts as well as Nanyang Academy of Art.
The buyer will benefit from upcoming transformations in the Bugis, Bras Basah as well as Beach Road area. Mixed-used development Guoco Midtown by GuocoLand and luxurious residential condominium The M by WingTai Asia are being constructed currently. Under URA’s Draft Master Plan 2019, brand-new park areas as well as streetscape enhancements will be introduced in Bugis, and Kampong Bugis along Kallang River will at the same time be developed as a car-lite residential precinct with around 4,000 units.
The tender exercise shuts at 3pm on July 16. The property is marketed by Mount Everest Properties.