Geylang new condo launched for collective sale at $27 mil.
SINGAPORE (EDGEPROP) - The freely owned Geylang condo Singapore - Baode building at 8 Lorong 35 Geylang has been sold by private agreement for $27 million. The development is on an 11,102 sq ft site and the sale results in a land rate of $1,007 psf per lot. The sale of the building must be approved by the Strata Titles Board.
The eight-storey Geylang condo Singapore sits on an 11,102 sq ft site and the guide price translates to a land rate of $989 psf per plot ratio (ppr). After accounting for an additional 7% bonus balcony gross floor area, the land rate falls to $967 psf ppr.
Baode building - Geylang condo Singapore
The developer first kicked off the collective sale effort last July with a suggested price of $27 million, and was followed by a bidding round that started again last December at the same specified price.
Final sale in line with owner's price expectations. Colliers are the marketing representative for all collective sales efforts. The owner of Geylang condo Singapore is also represented by Thomas Toh from CTLC Law Corporation.
The city periphery development is connected to the Pan Island Expressway and the Kallang-Paya Lebar Expressway. It is near the Midtown district in Bugis and the Kallang Sport Hub. It is also located near the Paya Lebar Metro Interchange on the East West and Circle lines.
“This site has exciting potential for a rebrand or repositioning of properties as it is located around the Paya Lebar area, where the URA Master Plan is intended,” said Steven Tan, chief executive officer. developing Paya Lebar Central into a bustling commercial center". investment services, at Colliers.
Geylang condo Singapore is an eight-story residential building consisting of 14 apartments ranging in size from 1,216 square feet to 1,238 square feet. Successfully completed sales. Buyer Amitabha Buddhist Society acquired the site as part of its expansion plan. It currently occupies two locations at 2 Lorong 35 Geylang and 693 Geylang Road. A 5% deposit for the collective sale was made on February 28.
Source from EDGEPROP SINGAPORE