Located at 8 Lorong 35 Geylang, Baode Building sits on an 11,102 sq ft site near Paya Lebar MRT station and a cluster of malls including PLQ Mall, Paya Lebar Square and Singpost Centre. Source: Google Maps
Baode Building at 8 Lorong 35 Geylang is up again for collective sale with the indicative price unchanged at $27 million, revealed marketing agent Colliers.
The freehold eight-storey residential building was previously launched for en bloc sale in July at the same price.
This works out to an estimated land rate of about $1,007 per sq ft per plot ratio (psf ppr) or $990 psf ppr, after taking into account the 7% bonus balcony gross floor area.
Featuring 14 housing units, the development occupies a 1,031.4 sq m (11,102 sq ft) site that is zoned for residential or institutional use under the 2019 Master Plan with a gross plot ratio of 2.8 and a height limit of up to eight storeys.
The site is located near the Paya Lebar MRT interchange station and is connected to the Kallang-Paya Lebar Expressway and Pan Island Expressway.
It is also close to Singpost Centre, Paya Lebar Square and PLQ Mall. Nearby primary schools include Geylang Methodist Primary School and Kong Hwa Primary School.
“This attractive site is situated near the Paya Lebar precinct, where the URA Master Plan had marked out to develop Paya Lebar Central into a bustling commercial hub. Developers could capitalise on this to reposition the asset to tap into the potential demand for new residential units from a growing working population,” said Pearl Lok, Collier’s Director of Capital Markets and Investment Services for Singapore.
“Given its strategic location in proximity to a myriad of amenities available in the nearby Paya Lebar Central precinct, as well as the highly accessible and well-connected transport network, the site would also be an ideal real estate investment for future buyers of the new residential project.”
The en bloc sale tender for Baode Building closes on 18 January 2022.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
