Advance Apartment En Bloc Sale 2020 – Freehold Site Near Aljunied MRT

Advance Apartment En Bloc Sale 2020 – Freehold Site Near Aljunied MRT

Read the Latest News Here: Advance Apartment Geylang En Bloc Sold

Geylang District is Heating Up, More Owners are Launching their Properties in the Collective Sale Market

Yuen Sing Collective Sale Success Inspire More and More…

Advance Apartment, a freehold residential site in Geylang district 14 is up for en bloc sale and available by tender.

This was announced by JLL Singapore, the sole and appointed marketing agent of this collective sale.

More than 80% of the owners have given their consent and expected incoming bids not less than S$26.5 million which is the reserve price.

Base on the amount, the land rate works out to around S$877 psf ppr and if 7% bonus balcony gross floor area (GFA) is taken account, it will arrive to S$861 psf ppr and there is an estimated development charge amount of S$3 million.

The Freehold residential site was completed in 1989 and is a 8-storey building which is built on a regular-shaped plot. It houses 14 residential units.

It has a gross plot ratio of 2.8 and occupy an area of 11,429 square feet. According to URA Master Plan 2019, the site is zoned for institutional and residential use and maximum height allowable is 8-storey.

Freehold Site’s Strong Attribute Might Draw Small and Mid-Sized Developers

According to JLL Singapore, successful bidder can configure the allowable Gross Floor Area (GFA) of 32,001 sq ft to build up to 34 residential units with 900-925 sq ft average size.

JLL added that the freehold site is not subject to a (PAFS) pre-application feasibility study on traffic impact, this is according to Land Transport Authority.

Senior director of capital markets at JLL Singapore, Nicholas Ng said that due to the site great location and strong attribute, it will attract small and mid-sized developers.

He further added that Not only the site is centrally located, it has good growth potential and great connectivity.

This is a good choice for developer looking for small development plots in this area.

Decathlon Kallang Singapore Lab
Singapore Favourite Sporting Store “Decathlon Kallang” is Only 5 Mins Drive Away from the Site. 

Leisure and Lifestyle Amenities Around Advance Apartment Site

Geylang district is famous for its food and entertainment. In fact, it is one of the food Paradise in Singapore.

The site is close to well-known food and beverage outlets and there are many lifestyle and leisure options found within the area.

Aljunied MRT station is conveniently located 300 meters away which require only few min walk.

It only takes around 5 to 10 mins drive to central business district, Singapore Sports Hub, Kallang Wave Mall and Decathlon Kallang

There are schools found within 2 kilometers radius of Advance Apartment Site namely Geylang Methodist School (Primary & Secondary), Kong Hwa School and Canossa Catholic Primary School

Nexus International School and James Cook University are also close proximity to the site.

The public tender for Advance Apartment shall close on October 27 at 3 pm.

Advance Apartment En Bloc Details

Tenure: Freehold

Land Size: 11,429 square feet

Total Units: 14

Gross Plot Ratio: 2.8

Nearest MRT: Aljunied MRT

Address: 8 Lorong 25A Geylang

District: 14

Marketing Agent: JLL Singapore

Reserve Price: S$26.5 million

Status: For Sale
Tender Close: Oct 27, 2020, 3 pm
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