Geylang development up for collective sale for $27mil
Baode Building, a 8 storey household development at 8 Lor 35 Geylang, has been put together for joint sale with a suggestive cost of $27 mil, disclosed Colliers Int’l.
This achieves to a ground price of about $9hundred 89 psf ppr or $967 per sq ft per PR after taking into account the Seven percent perk deck gross ground size.
The freehold project presents Fourteen house apartments and also covers a 1,031.4 square metre ground that is allocated for institutional or domestic use beneath the 2019 Master Plan with a complete land proportion of 2.8. The ground also has a permitted highness of until eight floors.
Baode Building lies in close proximity to Paya Lebar Train interchange terminal and also is linked up to the KPE plus PIE.
The project is as well near Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping mall, whereas nearby academies involve GMPS and also KHPS.
“This ground claims a fantastic potential for renovating or shifting the property since it’s located nearby the Paya Lebar precinct in which the Urban Redevelopment Authority Master Plan consider to develop Paya Lebar Central in the direction of through to a bustling commercial center,” revealed Steven Tan, ED of IS at Colliers International.
“The unusual freehold period of the place also secures long-term reassurance for developers, especially at such a major career place,” he included.
The en bloc transaction offer for Baode Building concludes on 18August.