Two freehold properties in Geylang have been put up for sale through an Expression of Interest (EOI) exercise, collectively priced at $14.3 million. The properties, strategically located within this vibrant district, offer a unique opportunity for potential buyers interested in commercial or institutional development.
The first property is situated at 47 Lorong 4 Geylang, covering a land area of 2,046 square feet and featuring an estimated floor area of 4,905 square feet. With a guide price set at $4.8 million, this property could serve various commercial functions, benefiting from the area’s bustling activity. Its freehold status grants the owner long-term control, making it particularly appealing for investors looking to establish a foothold in Geylang’s evolving landscape.
The second property, located at 4 & 6 Lorong 12 Geylang, presents a more substantial opportunity with a land area of 3,659 square feet. This site is especially noteworthy due to its potential for redevelopment into an eight-storey building, enhancing its value significantly. The guide price for this property is $9.5 million, which reflects not only its size but also the possibilities it offers for large-scale development.
Given its zoning under the Urban Redevelopment Authority (URA) Master Plan 2019, the site can accommodate a range of uses including educational and community facilities, making it a versatile investment.
Both properties are zoned for “Commercial/Institution” use, which aligns with the ongoing development trends in Singapore. The zoning allows for flexibility in the types of developments that can be undertaken, catering to both business needs and community services. This is an essential consideration for buyers looking to capitalize on Geylang’s potential as a hub for various commercial activities.
The EOI exercise is set to close on June 10 at 3 PM, providing a defined timeline for interested parties to submit their proposals. The properties are eligible for purchases by foreign entities and companies, broadening the pool of potential buyers and increasing competition for these prime sites.
This aspect is particularly notable in a market that is becoming increasingly globalized, attracting interest from international investors eager to venture into Singapore’s real estate sector.
NEW CONDO LAUNCH: RIVER GREEN
River Green is an exciting new condo launch in Geylang, featuring a variety of unit types including one, two, and three-bedroom apartments.
The River Green project offers modern living with a comprehensive suite of facilities, such as a swimming pool and gym, enhancing residents’ lifestyles.
With strategic positioning near upcoming residential developments and educational institutions, it appeals to families seeking a vibrant neighborhood.
For detailed River Green project information, including floor plans and pricing, prospective buyers can access the River Green E-brochure.
View RIVER GREEN ShowFlat & Get VVIP Discount. Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
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