SINGAPORE (EDGEPROP) - A freehold building at 6 & 8 Lorong 19 Geylang has been put up for collective sale with an asking price of $14.85 million. Mount Everest Properties is the marketing agent managing the collective sale.
The building is known at Loft68 and it sits on a 5,583 sq ft site. The asking price translates to a land rate of $949 psf per plot ratio but increases to $977 psf pp after factoring in the 7% bonus balcony gross floor area.
The site is zoned ‘Residential/Institutional’ with a gross plot ratio of 2.8 under the 2019 Master Plan. According to the marketing agent, the site has an estimated development charge of $1.5 million.
The site has an allowable height of eight-storeys and a maximum allowable gross floor area of 15,900 sq ft. A new residential development could have 17 apartments with an average size of 850 to 925 sq ft.
The freehold site is close to many F&B outlets and lifestyle options in Aljunied, Paya Lebar, and Kallang. Nearby commercial hubs include Paya Lebar Centre, the Singapore Sports Hub, and the upcoming Kallang Riverside. It is also close to the Central Business District. (Find Singapore commercial properties with our commercial directory)
The collective sale tender closes on Oct 13.
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