GSM Building at 141 Middle Road has been introduced for en bloc sale a…
GSM Building at 141 Middle Road has been introduced for en bloc sale at a reserve rate of $98 million. It is the very first business site to be released since the removal of some “lockdown” efforts on June 2.
The property, a corner double-frontage tower facing Middle Road, has a balance lease term of around 61 years. The land, with a land size of 12,003 sq ft, is zoned for business usage with a 4.2 plot ratio as well as a height restriction of as much as 16 floors, based on planning authorization.
The structure has three retail shops on the ground floor and also 30 workplace units on the upper levels. It is within a five-minute stroll to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line as well as Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Additionally, the commercial property is in close proximity to mall such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are also numerous educational institutions in the area, including Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Fine Arts.
The buyer will benefit from upcoming improvements in the Bugis, Bras Basah as well as Beach Road area. Mixed-used development Guoco Midtown by GuocoLand and also luxurious residential condo The M by WingTai Asia are being built presently. Under URA’s Draft Master Plan 2019, new park spaces and also streetscape remodelings will certainly be introduced in Bugis, as well as Kampong Bugis along Kallang River will likewise be established as a car-lite residential precinct with approximately 4,000 units.
The tender exercise shuts at 3pm on July 16. The Sengkang Grand Residences property is marketed by Mount Everest Characteristic.