Two prime commercial properties in Geylang are now on the market, presenting an attractive investment opportunity. With a collective guide price of $14.3 million, these freehold properties can be acquired individually or together, catering to various investment strategies. Their strategic location and zoning for “Commercial/Institution” use under the Urban Redevelopment Authority (URA) Master Plan 2019 enhance their appeal, as they can be repurposed for multiple uses including offices, recreational clubs, and educational facilities.
The first site, located at 47 Lorong 4 Geylang, encompasses a land area of 2,046 square feet. Currently featuring a three-storey walk-up apartment, this property has a guide price of $4.8 million. The maximum allowable gross floor area (GFA) for this site stands at 5,729 square feet, offering substantial potential for redevelopment.
Investors can capitalize on the site’s zoning by transforming it into modern commercial spaces that fulfill the growing demand in Geylang.
The second property, situated at 4 & 6 Lorong 12 Geylang, boasts a larger land area of 3,659 square feet, with a guide price of $9.5 million. This site is particularly enticing due to its maximum allowable GFA of 10,245 square feet, allowing for an even broader scope of development possibilities. Such a size enables the creation of multi-functional spaces tailored to the evolving needs of the community and businesses in the area.
Both properties are eligible for purchase by foreign investors and companies, further widening the pool of potential buyers. This inclusivity is particularly significant in the current market environment, where foreign investment plays a crucial role in enhancing property values and driving development.
The Expression of Interest (EOI) for these properties is set to close on June 10 at 3 PM, making the timeline for potential buyers crucial for securing these prime assets.
Geylang has been undergoing a transformation, with increasing interest in the area as it continues to develop. The commercial zoning of these properties aligns with ongoing urban revitalization efforts, making them not only attractive for immediate investment but also promising in terms of long-term growth potential.
Investors looking to capitalize on the evolving landscape of Geylang will find these properties to be outstanding opportunities, particularly given their strategic locations and the variety of uses permitted under the current zoning regulations.
As the deadline for the EOI approaches, interested parties are encouraged to conduct thorough due diligence to assess the potential of these properties in the context of their investment goals. With the flexibility offered by their zoning designation, both sites present a rare chance to enter a dynamic market poised for growth.
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News Source: Edgeprop
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