Adjoining Plots Lorong 12 Geylang Relaunched Sale 95 Mil
An expression of interest (EOI) exercise has been launched for the sale of two adjacent land plots, located at 4 and 6 Lorong 12 Geylang. The properties, which are freehold, have a combined land area of 3,659 sq ft and have been listed at a guide price of $9.5 million. The sale is being managed by Knight Frank.
This is not the first time the properties have been put on the market. In May, the same firm launched an EOI to sell the land, together with another property at 47 Lorong 4 Geylang. However, the price remains the same since then.
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The two plots at 4 and 6 Lorong 12 Geylang are currently designated as “Commercial/Institution” under the URA Master Plan 2019, with a plot ratio of 2.8. Currently, the site is occupied by a two-storey building with an attic. Based on the plot ratio, the site offers a maximum gross floor area of 10,245 sq ft.
Potential buyers have a lot of options for the development of this site, according to Mary Sai, who is managing the sale. They can choose to redevelop the land for their own use or lease it out to education providers, leisure business operators, or associations. However, any change in usage will require approval from the relevant authority. The sale of a new building can also be done on a strata basis.
The property will be handed over to the buyer with vacant possession. It is conveniently located within walking distance of the Kallang MRT Station on the East-West Line.
The deadline for the EOI submission is October 30 at 3pm.
