Geylang development up for collective sale for $27mil
Baode Building, an eight floor home project at 8 Lorong Thirty Five Geylang, has recently been launched for collective sale with an indicative figure of $27 mil, exposed Colliers Int’l.
This works out to a ground cost of roughly $Nine hundred Eighty Nine psf ppr or $Nine hundred Sixty Seven psf ppr upon considering the Seven percentage perk porch gross ground area.
The free rental project presents 14 home units and occupies a 11,102 square foot place that is meant for institutional or residence usage under the ’19 Master Plan with a total PR of 2.8. The location additionally includes an allowable elevation of right up to 8 levels.
Baode Building stands in close proximity to Paya Lebar MRT interchange station and is linked up to the KPE plus PIE.
The development is moreover near to Singpost Centre, Paya Lebar Square and also PLQ Shopping mall, while proximate academic institutions include GMPS and also Kong Hwa Primary School.
“This ground boasts an interesting capability for repositioning the asset or rebranding considering that it is found close to the Paya Lebar precinct where the URA Master Plan picture to develop Paya Lebar Central toward a dynamic industrial center,” revealed Steven Tan, ED of Investment Services at Colliers Int’l.
“The rare free lease tenancy of the ground furthermore secures lasting reassurance for developers, even more so at this sort of a significant work zone,” he added.
The en bloc sale tender for Baode Building concludes on 18 August.