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Latest news about Geylang properties for sale

Latest news about Geylang properties for sale.

Geylang property developments up for sale at S$1,350 psf

A row of five Geylang properties for sale under a single title along along 236-244 Geylang Road has been put up by broker JLL. This freehold property has the indicative price at S$28.8 million, equivalent to about S$1,350 psf on the total built-up area of 21,349 sq ft.

The Geylang property is held under a single title, and has 7 carpark lots. The shophouse comprises of a Chinese restaurant and a provision shop on the ground floor, and an office and an association on the upper floors. Earlier this year, OCBC sold a Geylang property at 382 Geylang Road, which has a built-up area of about 3,300 sq ft with the price of S$5.1 million. This is the same as S$1,545 psf on the built-up area.

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A row of five Geylang property developments under a single title along 236-244 Geylang Road has been put up for sale by broker JLL. ST

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Seven Geylang properties for sale at S$40-42 million

According to marketing agent Knight Frank Singapore, there is a row of seven adjoining conservation Geyland property developements have been launched for sale at a guide price range of S$40 million to S$42 million. These are Geylang shophouses located at the corner of Geylang Road and Lorong 14 Geyland, nearby Aljunied MRT Station. The shophouses have land area of 10,520 square feet (sq ft) and a gross floor area (GFA) of about 18,000 sq ft. The block is fully tenanted and comprises a corner cafe, a mobile phone boutique, a Thai massage parlour and other retails.

The Geylang properties for sale are suitable for food and beverage (F&B) outlets as well as retail use on the ground floor, while the upper floors can be designated for office use. According to Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, there was potential for a prospective buyer to refurbish the shophouses based on conservation guidelines by the Urban Redevelopment Authority (URA).

Because this was a secondary settlement area, Geylang properties for sale also have room for rear extension of up to a maximum height, subject to approval from the authorities. Ms Sai added that thanks to the large plate combination for the 7 shophouses, it allows for flexibility in space reconfiguration to respond the new owner's demands, maybe for owner-occupation or investment. Geylang sites are zoned for commercial use with a plot ratio of 3 under URA's Master Plan.

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The seven adjoining Geylang properties for sale are currently fully tenanted, and are being offered at around S$40 million to S$42 million. 

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