Collective sale of GSM Building launched for $85 mil

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

A property shophouse at 6 Lorong 19 Geylang has been put up for sale by means of expression of rate of interest with a $18 million asking rate. The residential or commercial property is marketed by Mount Everest Properties.

The building rests on a 5,583 sq ft website as well as has a floor area of regarding 12,000 sq ft. Thus, the asking rate translates to a land price of $3,224 psf, or regarding $1,500 psf on the flooring area.

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

Senja Residences Site Plan

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

The site is zoned for property use or institutional usage with a gross story ratio of 2.8, as well as a permitted elevation of as much as eight floors, based on the most recent Master Plan. According to the marketing representative, the shophouse is currently totally tenanted.

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