3 freehold Geylang plots list with $31.0m guide

Six addresses form an L-shaped parcel with dual road frontage; private treaty sale offers vacant possession on completion.

Three freehold city-fringe commercial and institutional redevelopment plots located just off Geylang Road have been put on the market with a guide price of $31.0m, according to its marketing agent Cushman & Wakefield.

The sites comprise an L-shaped land parcel with dual road frontages, spanning six addresses along Lorong 16 Geylang and Westerhout Road.

The total land area is about 1,183.6 sq m (12,740 sq ft). Plots A and B together measure about 815.6 sq m (8,779 sq ft), whilst Plot C has a land area of about 368.0 sq m (3,961 sq ft).

The land is zoned Commercial/Institution under the Master Plan, with a plot ratio of 2.8. Cushman & Wakefield, which is marketing the sites, said there may be potential for plot ratio intensification, subject to regulatory approvals.

The consultancy noted that the site had previously received Outline Permission for an eight-storey mixed-use commercial development. The earlier proposal comprised shops on the first storey and office space from the second to the eighth storey, utilising the full 2.8 plot ratio.

Cushman & Wakefield said the $31.0m guide price translates to about $869 per sq ft based on the maximum permissible gross floor area, or $1,103 per sq ft per plot ratio, including land betterment charges.

The plots are available for purchase either collectively or individually, with Plots A and B priced at about $21.36m and Plot C at about $9.64m.

The sale is being conducted by private treaty on an as-is-where-is basis, with vacant possession to be delivered upon completion, the firm said.