GSM Building at 141 Middle Road has actually been released for enbloc
GSM Building at 141 Middle Road has actually been released for en bloc sale at a base cost of $98 million. It is the first industrial site to be launched since the removal of some “circuit breaker” procedures on June 2.
The building, a corner double-frontage tower fronting Middle Road, has a residue lease term of about 61 years. The land, with a land area of 12,003 sq ft, is zoned for industrial usage with a 4.2 plot ratio and also an elevation restriction of as much as 16 floors, based on intending authorization.
The structure has 3 retail shops on the level one as well as 30 workplace units on the higher floors. It is within a five-minute walk 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 as well as Downtown Line.
Additionally, the commercial property remains in close proximity to shopping center such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are also a number of educational institutions in the area, including Singapore Management University, School of the Arts, Lasalle College of Arts and also Nanyang Academy of Art at Royal Green.
The purchaser will certainly benefit from upcoming changes in the Bugis, Bras Basah as well as Beach Road location. Mixed-used development Guoco Midtown by GuocoLand and also residential condominium The M by WingTai Asia are being built currently. Under URA’s Draft Master Plan 2019, new park spaces as well as streetscape improvements will be introduced in Bugis, and also Kampong Bugis along Kallang River will certainly likewise be developed as a car-lite residential precinct with about 4,000 units.
The tender exercise shuts at 3pm on July 16. The commercial property is marketed by Mount Everest Residence.