Bagnall Court up for collective sale at $125 mil
Various other amenities close-by feature Eastwood Centre as well as Bedok Food Centre, which are within walking distance. Changi City Point, East Village, and the Simpang Bedok collection of dining establishments are throughout short driving distance.
The guide rate equates to a land cost of relating to $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and also considering a projected land rates for the state property. Inclusive of an additional 8% bonus GFA, the unit land rate will certainly be about $1,180 psf ppr. JLL highlights hat the unit land rates are estimated based upon the former project cost prices as of March 1, as the changed fees to be efficient from Sept 1 have yet to get revealed by the appropriate authority between switch from the development charge system to the new land improvement fee.
JLL marks that the residential property has a property standard equivalent to a gross plot ratio of about 1.4904. Because of this, just a relatively small area of the extra gross floor section GFA attracts a land enhancement cost. There is also 4,600 sq ft of remnant state land that may likely be amalgamated into the area for redevelopment, permitting additional new units.
The real estate was integrated in the 1990s and makes up 43 walk-up homes, spread out throughout 2 blocks that are four storeys each. It has a land area of 69,563 sq ft zoned for non commercial usage with a gross plot ratio of 1.4 and also an allowed height of as much as five storeys.
Bagnall Court, an estate home property development located on Upper East Coast Roadway, is up for cumulative sale by tender at a guide value of $125 million. Greater than 80% of proprietors have actually consented to the sale, according to advertising agent JLL.
Consisting of the state property and based upon the minimum typical unit dimension of 85 sqm (914 sq ft), the place might suit up to 113 homes.
Bagnall Court is located at the end of Upper East Shore Road near the Bedok Road junction, opposite the Laguna Gold and Country Club and Bedok Camp. It adjoins the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Coastline Lines slated to open in 2025.
Tan Hong Boon, executive director of capital markets at JLL, expects the site to bring in eager competitors from medium-sized firms, provided its “manageable quantum” against much bigger Government Land Sale (GLS) areas. “The overview cost of $125 million is a really reasonable pricing for an estate property location of such dimension as it compares very positively with numerous recent sales of rural 99-year leasehold sites, which are currently at these price index,” he includes.
The tender will close on Oct 26 at 3pm.
