The building sits on a 5,583 sq ft site and also has a flooring location of concerning 12,000 sq ft. Thus, the asking price translates to a land price of $3,224 psf, or concerning $1,500 psf on the flooring location.
The website is zoned for household usage or institutional usage with a gross plot proportion of 2.8, and also an allowable elevation of approximately eight floors, based on the most up to date Master Plan. According to the advertising and marketing representative, the shophouse is presently fully tenanted.
Based on EdgeProp’s Landlens analytics device, there have actually been 2 recent en bloc transactions around. They entailed Advance Apartments on Lorong 25 Geylang, which negotiated for $26.5 million ($ 1,270 psf) in December 2020, as well as Yuen Sing Mansion on Lorong 13 Geylang, which was sold for $15.2 million ($ 1,580 psf) in August 2020
A freehold shophouse at 6 Lorong 19 Geylang has actually been offered via expression of rate of interest with a $18 million asking price. The residential property is marketed by Mount Everest Properties.
One of the most current launch in the area was the 110-unit Rezi 24 on Lorong 24 Geylang, which was launched available in March 2019.
The shophouse is close to Kallang and Aljunied MRT Stations on the East-West Line. Neighboring shopping centres consist of Paya Lebar Quarter, Paya Lebar Square, and SingPost Centre.