GSM Building at 141 Middle Road has been introduced for en bloc sale
GSM Building at 141 Middle Road has been introduced for en bloc sale at a reserve rate of $98 million. It is the first business site to be introduced since the removal of some “lockdown” procedures on June 2.
The property, a corner double-frontage building facing Middle Road, has a balance lease term of approximately 61 years. The site, with a land size of 12,003 sq ft, is zoned for industrial usage with a 4.2 plot ratio and also an elevation limitation of as much as 16 storeys, based on planning approval.
The building has 3 retail shops on the level one and 30 office 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 and also Bugis MRT Station, which is an interchange for the East-West Line and Downtown Line.
Additionally, the commercial property is in close distance to shopping centres such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are likewise several educational institutions in the precinct, including Singapore Management University, School of the Arts, Lasalle College of Arts as well as Nanyang Academy of Art.
The buyer will take advantage of upcoming developments in the Bugis, Bras Basah and Beach Road area. Mixed-used development Guoco Midtown by GuocoLand and luxurious residential condo The M by WingTai Asia are being constructed currently. Under URA’s Draft Master Plan 2019, new park areas and also streetscape makeovers will certainly be presented in Bugis, and also Kampong Bugis along Kallang River will certainly likewise be established as a car-lite residential precinct with about 4,000 units.
The tender exercise shuts at 3pm on July 16. The Parc Central Residences building is marketed by Mount Everest Properties.