GSM Building at 141 Middle Road has been introduced for en bloc
GSM Building at 141 Middle Road has been introduced for en bloc sale at a reserve cost of $98 million. It is the very first industrial site to be introduced since the removal of some “lockdown” efforts on June 2.
The property, a corner double-frontage tower facing Middle Road, has a balance lease term of about 61 years. The site, with an acreage of 12,003 sq ft, is zoned for industrial use with a 4.2 plot ratio as well as a height constraint of up to 16 floors, subject to planning approval.
The structure has 3 retail shops on the ground floor as well as 30 workplace units on the higher floors. It is within a five-minute stroll 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 and Downtown Line.
In addition, the commercial property remains in close proximity to mall such as Bugis Junction, Bugis+, Bugis Village and also Sim Lim Square. There are additionally several educational institutions in the location, consisting of Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Art.
The buyer will certainly take advantage of upcoming improvements in the Bugis, Bras Basah and also Beach Road precinct. Mixed-used development Guoco Midtown by GuocoLand and also residential condo The M Condo by WingTai Asia are being built right now. Under URA’s Draft Master Plan 2019, new park areas as well as streetscape makeovers will be introduced in Bugis, and also Kampong Bugis along Kallang River will certainly likewise be developed as a car-lite residential precinct with approximately 4,000 units.
The tender exercise shuts at 3pm on July 16. The property Piermont Grand is marketed by Mount Everest Characteristic.