Bagnall Court up for collective sale at $125 mil
The residential property was built in the 1990s and also comprises 43 walk-up condos, spread out around 2 stops that are four floors each. It has a land area of 69,563 sq ft zoned for household usage with a gross plot ratio of 1.4 and even a permitted level of as much as five storeys.
Bagnall Court lies at the end of Upper East Shore Road near the Bedok Road crossroads, opposite the Laguna Gold and Country Club as well as Bedok Camp. It borders the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown as well as Thomson-East Coastline Lines slated to open up in 2025.
Tan Hong Boon, executive director of capital markets at JLL, anticipates the place to attract keen competitors from medium-sized firms, provided its “manageable quantum” versus a lot wider Government Land Sale (GLS) areas. “The overview rate of $125 million is a very sensible pricing for a property area of such size as it compares really favourably with numerous recent sales of suburban 99-year leasehold sites, which are presently at these price levels,” he includes.
Including the state property as well as based on the minimum typical unit measurements of 85 sqm (914 sq ft), the location might accommodate as much as 113 apartments.
Bagnall Court, a property non commercial project found on Upper East Coast Roadway, is up for cumulative sale by tender at an overview value of $125 million. Beyond 80% of owners have actually granted the sale, according to advertising and marketing representative JLL.
Other services nearby consist of Eastwood Centre and also Bedok Food Centre, which are within walking proximity. Changi City Point, East Town, as well as the Simpang Bedok collection of restaurants are inside brief driving range.
The overview price translates to a land price of about $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 as well as thinking about a projected land rates for the state property. Inclusive of an extra 8% extra GFA, the unit land price will certainly be approximately $1,180 psf ppr. JLL highlights hat the unit area costs are determined based on the past property fee rates since March 1, as the changed rates to be reliable from Sept 1 have yet to be announced by the appropriate authority among shift from the development charge system to the colony betterment cost.
Midtown Modern Tan Quee Lan Street
JLL notes that the building has a development standard comparable to a gross plot ratio of regarding 1.4904. Therefore, just a reasonably small part of the extra gross flooring area GFA draws in a land improvement cost. There is additionally 4,600 sq ft of remnant state land that can possibly be integrated within the spot for redevelopment, permitting extra new units.
The tender will close on Oct 26 at 3pm.
