GSM Building at 141 Middle Road has actually been launched for en bloc
GSM Building at 141 Middle Road has actually been launched for en bloc sale at a reserve rate of $98 million. It is the first business site to be launched since the lifting of some “lockdown” measures on June 2.
The building, a corner double-frontage tower facing Middle Road, has a balance lease term of approximately 61 years. The land, with a land size of 12,003 sq ft, is zoned for commercial usage with a 4.2 plot ratio as well as an elevation restriction of up to 16 storeys, based on preparing approval.
The structure Ola Ec has three retail shops on the level one and also 30 office units on the upper floors. It is within a five-minute stroll to Bencoolen MRT Station on the Downtown Line, Bras Basah MRT Station on the Circle Line and also Bugis MRT Station, which is an interchange for the East-West Line as well as Downtown Line.
Additionally, the property is in close proximity to mall such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are additionally several educational institutions in the precinct, including Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Fine Arts.
The purchaser will certainly gain from upcoming improvements in the Bugis, Bras Basah and also Beach Road precinct. Mixed-used development Guoco Midtown by GuocoLand and also residential condo The M by WingTai Asia are being constructed right now. Under URA’s Draft Master Plan 2019, new park spaces and streetscape remodelings will be introduced in Bugis, and Kampong Bugis along Kallang River will certainly also be established as a car-lite residential precinct with about 4,000 units.
The tender exercise closes at 3pm on July 16. The building is marketed by Mount Everest Residence.