Freehold shophouse in Geylang on the market for $18 mil

A property shophouse at 6 Lorong 19 Geylang has actually been offered using expression of passion with a $18 million asking rate. The building is marketed by Mount Everest Properties.

The most current launch in the location was the 110-unit Rezi 24 on Lorong 24 Geylang, which was released available for sale in March 2019.

Based upon EdgeProp’s Landlens analytics tool, there have actually been 2 current en bloc transactions around. They involved Advance Apartments on Lorong 25 Geylang, which transacted for $26.5 million ($ 1,270 psf) in December 2020, and also Yuen Sing Mansion on Lorong 13 Geylang, which was cost $15.2 million ($ 1,580 psf) in August 2020

Westwood Residences

The building remains on a 5,583 sq ft website as well as has a floor area of about 12,000 sq ft. Thus, the asking price Tampines Ave 11 Condo translates to a land price of $3,224 psf, or regarding $1,500 psf on the floor location.

The site is zoned for household use or institutional use with a gross plot ratio of 2.8, and also a permitted elevation of up to 8 floors, based on the most recent Master Plan. According to the advertising and marketing agent, the shophouse is currently fully tenanted.

The shophouse is close to Kallang and Aljunied MRT Stations on the East-West Line. Nearby shopping centres One Sophia consist of Paya Lebar Quarter, Paya Lebar Square, as well as SingPost Centre.

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