SINGAPORE (EDGEPROP) - The owners of Green Court, located along Geylang Road, have put up the freehold development for collective sale at the reserve price of $28 million, or $1,178 psf per plot ratio (ppr).
Green Court is a freehold, three-storey commercial and residential development comprising three ground-floor shops and six 2-storey walk-up apartments on the second level.
The site, about 9,628 sq ft, is zoned partly for commercial use, with a gross plot ratio (GPR) of 3.0, and zoned partly for residential use, with a GPR of 2.8. This would allow redevelopment potential to reach up to a maximum gross floor area (GFA) of about 28,216 sq ft, according to Knight Frank, the exclusive marketing agent for the site.
The reserve price of $28 million includes an additional development charge of about $5.24 million payable to the authorities to maximise the GFA.
The development has a prominent frontage onto Geylang Road, and is surrounded by commercial shophouses, apartments and hotels. It is also close to retail malls and office buildings at Paya Lebar Central and the Tanjong Katong area.
The tender for Green Court will close on Feb 19, at 3pm.
Stay updated with En Bloc Singapore - Latest News, Enbloc Potential, Listings & Sales in 2021
Read also: