Collective sale of GSM Building launched for $85 mil

The Reserve Residences Details

Based upon EdgeProp’s Landlens analytics device, there have been two recent en bloc deals around. They involved 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 cost $15.2 million ($1,580 psf) in August 2020.

A freehold shophouse at 6 Lorong 19 Geylang has been put up for sale via expression of passion with a $18 million asking rate. The property is marketed by Mount Everest Properties.

The most recent launch in the location was the 110-unit Rezi 24 on Lorong 24 Geylang, which was released for sale in March 2019.

The website is zoned for household use or institutional use with a gross plot ratio of 2.8, and also an allowable elevation of up to eight storeys, based upon the most recent Master Plan. According to the advertising agent, the shophouse is presently totally tenanted.

The shophouse is close to Kallang as well as Aljunied MRT Stations on the East-West Line. Nearby shopping center include Paya Lebar Quarter, Paya Lebar Square, as well as SingPost Centre.

The building sits on a 5,583 sq ft website and also has a flooring area of about 12,000 sq ft. Thus, the asking price translates to a land rate of $3,224 psf, or about $1,500 psf on the floor location.