Geylang development up for collective sale for $27mil
Baode Building, a 8 level household development at Eight Lor 35 Geylang, has already been launched for en bloc with an indicative cost of $Twenty Seven million, exposed Colliers International.
This achieves to a ground cost of almost $9hundred 89 psf per PR or $9hundred 67 per sq ft per PR upon including the Seven percentage perk deck GFA.
The free lease project offers Fourteen house flats and inhabits a 1.0314K square meter location that is allocated for institutional or household benefit within the 2019 Master Plan with a gross plot scale of 2.8. The plot furthermore enjoys a permitted elevation of right up to eight floors.
Baode Building is situated nearby Paya Lebar MRT interchange terminal also is linked up to the Kallang-Paya Lebar Expressway and also PIE.
The development is likewise alongside Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping mall, whereas nearby academic institutions involve Geylang Methodist Pri School and also KHPS.
“This ground claims a fascinating possibility for repositioning the resource or renovating as it is placed near the Paya Lebar area exactly where the URA Master Plan picture to generate Paya Lebar Central right into a busy business center,” stated Steven Tan, Exec Dir of IS at Colliers International.
“The unusual free rental tenure of the place also assures extended confidence for developers, significantly at such a notable work area,” he said further.
The en bloc sale offer for Baode Building concludes on 18Aug.