Geylang development up for collective sale for $27mil
Baode Building, an eight floor residence project at Eight Lor 35 Geylang, has already been launched for joint sale by having a suggestive price of $27 mil, revealed Colliers Int’l.
This works out to a land price of nearly $9hundred 89 psf per PR or $967 psf ppr since considering the 7 % reward deck total ground space.
The free rental project offers Fourteen house units and also fills a 1,031.4 square m site that is zoned for institutional or domestic application beneath the 2K19 Master Plan with a total PR of 2.8. The place also carries an allowable elevation of around eight levels.
Baode Building lies near Paya Lebar MRT interchange station and is connected to the KPE and also Pan Island Highway.
The development is also near Singpost Centre, Paya Lebar Square also Paya Lebar Quarter Mall, whereas proximate academies include GMPS as well as KHPS.
“This ground boasts an appealing potential for renovating or repositioning the possession considering that it is situated close to the Paya Lebar community where the Urban Redevelopment Authority Master Plan imagine to cultivate Paya Lebar Central toward a bustling business hub,” shared Steven Tan, ED of IS at Colliers International.
“The uncommon free lease tenure of the place moreover ascertains long-term peace of mind for real estate investors, significantly at such a significant work location,” he included.
The collective sale transaction bidding for Baode Building ceases on 18August.