The building sits on a 5,583 sq ft site and also has a floor location of regarding 12,000 sq ft. Thus, the asking rate translates to a land price of $3,224 psf, or regarding $1,500 psf on the floor location.
The website is zoned for property use or institutional usage with a gross plot proportion of 2.8, and also a permitted elevation of approximately eight storeys, based on the most recent Master Plan. According to the marketing representative, the shophouse is presently fully tenanted.
The most current launch in the location was the 110-unit Rezi 24 on Lorong 24 Geylang, which was launched available for sale in March 2019.
The shophouse is close to Kallang and Aljunied MRT Stations on the East-West Line. Nearby shopping center include Paya Lebar Quarter, Paya Lebar Square, and also SingPost Centre.
Based on EdgeProp’s Landlens analytics tool, there have actually been 2 recent en bloc deals in the vicinity. They included Advance Apartments on Lorong 25 Geylang, which negotiated for $26.5 million ($ 1,270 psf) in December 2020, and also Yuen Sing Mansion on Lorong 13 Geylang, which was sold for $15.2 million ($ 1,580 psf) in August 2020
A property shophouse at 6 Lorong 19 Geylang has actually been put up for sale by means of expression of interest with a $18 million asking rate. The property is marketed by Mount Everest Properties.