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.
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.