The shophouse is close to Kallang as well as Aljunied MRT Stations on the East-West Line. Close-by shopping centres consist of Paya Lebar Quarter, Paya Lebar Square, and SingPost Centre.
The website is zoned for domestic usage or institutional usage with a gross story ratio of 2.8, and also a permitted height of approximately 8 floors, based on the most recent Master Plan. According to the advertising representative, the shophouse is presently totally tenanted.
The structure rests on a 5,583 sq ft website as well as has a flooring location of concerning 12,000 sq ft. Thus, the asking price translates to a land rate of $3,224 psf, or regarding $1,500 psf on the flooring area.
Based upon EdgeProp’s Landlens analytics device, there have actually been two recent en bloc purchases around. They included Advance Apartments on Lorong 25 Geylang, which negotiated for $26.5 million ($1,270 psf) in December 2020, as well as Yuen Sing Mansion on Lorong 13 Geylang, which was sold for $15.2 million ($1,580 psf) in August 2020.
The most recent launch in the location was the 110-unit Rezi 24 on Lorong 24 Geylang, which was released available in March 2019.
An estate shophouse The Myst at 6 Lorong 19 Geylang has actually been put up for sale via expression of interest with a $18 million asking rate. The home is marketed by Mount Everest Properties.