GSM Building at 141 Middle Road has been launched for en bloc sale
GSM Building at 141 Middle Road has been launched for en bloc sale at a reserve price of $98 million. It is the first business site to be introduced since the removal of some “circuit breaker” measures on June 2.
The property, a corner double-frontage tower facing Middle Road, has a balance lease term of around 61 years. The land, with a land size of 12,003 sq ft, is zoned for commercial use with a 4.2 plot ratio as well as a height limitation of approximately 16 storeys, subject to preparing approval.
The building has three retail units on the ground floor and 30 office units on the upper levels. It is within a five-minute stroll to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line and Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Additionally, the commercial property remains in close proximity to shopping center such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are additionally numerous educational institutions in the vicinity, including Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Art.
The purchaser will certainly take advantage of upcoming changes in the Bugis, Bras Basah and Beach Road location. Mixed-used development Guoco Midtown by GuocoLand as well as luxurious residential condominium The M by WingTai Asia are being built presently. Under URA’s Draft Master Plan 2019, new park spaces as well as streetscape improvements will certainly be presented in Bugis, as well as Kampong Bugis along Kallang River will likewise be developed as a car-lite residential precinct with around 4,000 units.
The tender exercise shuts at 3pm on July 16. The building is marketed by Ryse Residences Mount Everest Characteristic.