Bagnall Court up for collective sale at $125 mil
Various other features close-by include Eastwood Centre and also Bedok Food Centre, which are within walking proximity. Changi City Point, East Town, as well as the Simpang Bedok cluster of restaurants are inside short driving range.
The guide rate equates to a land price of relating to $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and also thinking about an approximated land rates for the state land. Inclusive of an added 8% extra GFA, the unit land price will be about $1,180 psf ppr. JLL highlights hat the unit property costs are approximated based upon the past development fee rates since March 1, as the modified prices to be reliable from Sept 1 have yet to get introduced by the appropriate authority in the midst of switch from the development cost system to the colony betterment fee.
Bagnall Court, a freehold residential development situated on Upper East Coast Roadway, is up for collective sale by tender at an overview price of $125 million. Beyond 80% of owners have granted the sale, according to marketing representative JLL.
Bagnall Court lies at the end of Upper East Coastline Highway near the Bedok Street crossroads, opposite the Laguna Gold and Country Club and Bedok Camp. It is adjacent to the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Shore Lines slated to open up in 2025.
Tan Hong Boon, executive supervisor of capital markets at JLL, expects the location to attract keen competitors from medium-sized developers, provided its “convenient quantum” opposing considerably wider Government Land Sale (GLS) spots. “The guide rate of $125 million is a very reasonable pricing for a property domestic area of such dimension as it matches up truly favourably with numerous recent sales of country 99-year leasehold sites, which are currently at these price levels,” he adds.
Consisting of the state property and based upon the minimal ordinary unit size of 85 sqm (914 sq ft), the place might accommodate up to 113 apartments.
JLL marks that the property has a development baseline equal to a gross plot ratio of concerning 1.4904. Because of this, only a relatively little section of the bonus gross flooring section GFA brings in a land betterment charge. There is additionally 4,600 sq ft of remnant state land that can likely be amalgamated into the area for redevelopment, permitting additional brand-new units.
The building was built in the 1990s and also comprises 43 walk-up condos, spread out across two stops that are 4 storeys each. It has a land area of 69,563 sq ft zoned for residential usage with a gross plot ratio of 1.4 and a permitted elevation of as much as 5 floors.
The tender will finalize on Oct 26 at 3pm.
