Mortgagee sale: Geylang intermediate terraced house listed for $3.7 mil
According to Mok Sze Sze, regulating affiliate of SRI Auction, the estate provides redevelopment prospects, with possible uses consisting of business offices, stores, diners and neighborhood organization centers, based on confirmations from appropriate jurisdictions. She assumes the real estate to entice both capitalists and end-users.
Other real estates around have actually also been offered in more recent months. In May, a three-storey walk-up flat at Lorong 4 Geylang, together with a two-storey structure at Lorong 12 Geylang, were offered with a consolidated cost of $14.3 million. The properties inhabit acreage of 2,046 sq ft and 3,659 sq ft, specifically.
The residence is in just strolling proximity of Aljunied MRT Stop on the East-West Line. It is even nearby the shophouses near Geylang Road, providing a selection of restaurants and outlets, whilst other facilities like Old Airport Road Food Center, PLQ Mall and Kallang Wave Shopping center are simply a brief ride away.
Based upon URA caveats, one of the most latest purchase of a terraced residence near Lorong 22 Geylang took place in January 2020. Zoned for “Commercial/Institution” use, the estate property negotiated at $2.7 million, or $1,631 psf on its acreage of 1,656 sq ft. Before that, it had actually earlier shifted controls for $2.33 million ($1,407 psf) in April 2018.
Inside the bigger space with industrial and institutional zoning, one of the most current real estate to switch controls is a terraced residence on Lorong 14 Geylang. The freehold estate with an acreage of 1,628 sq ft yielded $3.6 million ($2,212 psf), on Mar 3. Prior to that, a different terraced home, additionally on Lorong 14 Geylang, brought $3.6 million, or $2,154 psf on its acreage of 1,672 sq ft.
Robertson Opus Frasers Property & Sekisui House
The house stands inside of a collection of property developments inside the Geylang area that all take up zoned for commercial and institutional usage. Situated in between Geylang Road and Guillemard Roadway, the collection spreads out from Lorong 4 Geylang to Lorong 22 Geylang. It is home to a number of resorts along with structures belonging to social organizations. There are additionally a lot of property store housing property developments, like the 14-unit Sunflower Regency, the 26-unit Crystal Lodge and the 63-unit Central Imperial.
A single-storey intermediate terraced home at Lorong 22 Geylang was placed on the neighborhood at SRI’s real property auction on Dec 17. The real estate is a mortgagee transaction, with an overview value of $3.7 million, or $2,233 psf, based upon an acreage of 1,657 sq ft.
The residence rests on a freehold plot that is zoned “Commercial/Institution” following the URA Master Plan, along with a plot scale of 2.8. The real property has an assessed floor surface area of 1,629 sq ft. Caveats housed with URA show that the real property previous marketed for $560,000 ($338 psf) in July 2009.
