GSM Building at 141 Middle Road has been launched for en bloc sale
GSM Building at 141 Middle Road has been launched for en bloc sale at a reserve cost of $98 million. It is the very first business site to be released since the removal of some “circuit breaker” efforts on June 2.
The property, a corner double-frontage building fronting Middle Road, has a remaining lease term of around 61 years. The land, with an acreage of 12,003 sq ft, is zoned for commercial usage with a 4.2 plot ratio and also an elevation limitation of up to 16 storeys, based on preparing authorization.
The structure has three retail shops on the level one as well as 30 workplace units on the upper levels. It is within a five-minute stroll to Bencoolen MRT Station on the Downtown Line, Bras Basah MRT Station on the Circle Line and also Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
In addition, the Leedon Green tower remains in close distance to mall such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are additionally several educational institutions in the location, including Singapore Management University, School of the Arts, Lasalle College of Arts as well as Nanyang Academy of Art.
The buyer will certainly benefit from upcoming changes in the Bugis, Bras Basah and Beach Road vicinity. Mixed-used development Guoco Midtown by GuocoLand as well as residential condo The M by WingTai Asia are being constructed right now. Under URA’s Draft Master Plan 2019, new park spaces and streetscape enhancements will be introduced in Bugis, and also Kampong Bugis along Kallang River will certainly likewise be developed as a car-lite residential precinct with around 4,000 units.
The tender exercise closes at 3pm on July 16. The property is marketed by Mount Everest Feature.