Advance Apartment Geylang En Bloc SOLD

Advance Apartment En Bloc SOLD – 3rd Successful Sale 2020

Another En Bloc Site in Geylang Hot District that Found Buyer and Sold En Bloc

Owners of Advance Apartment will be rejoiced as buyer is found this time and sold en bloc for S$26.5 million.

According to the news, this is their 2nd attempt at collective sale and 2020 seems to be their Good Luck Year.

The Geylang en bloc site has drawn many enquiries and interests from small & mid-sized developers since its launched for public tender.

Base on the sale price, the land rate arrived at S$877 psf ppr and after factored in 7% bonus balcony GFA and expected development charge of about S$3 million, the rate will be around S$861 psf ppr.

According to JLL senior director Nicholas Ng, the happy owners will most likely to receive sale proceeds of amount between S$1.7 million and over S$2 million with this sale price.

The freehold site has a gross plot ratio of 2.8 and covers an area of 11,429 square feet (sq ft). The site is marked for institutional use or residential.

Under URA Master Plan 2019, the maximum allowable height for this site is at 8 storeys.

The marketing agent added that with the gross floor area of 32,001 sq ft, the developer can build up 34 apartments with average units sized of 900-925 sq ft.

Advance Apartment Site in Hot Geylang District

Advance Apartment freehold site has many advantages and one of them is Aljunied MRT station which is located only 260 metres away.

This is one important factor in buyer’s decision since most home hunters will look for condo near MRT.

Beside that, the attractive site is close to many F&B outlets as well as lifestyle and leisure options in Geylang, Aljunied, Paya Lebar, Sims Avenue and Kallang.

Short drive away from the site are Singapore Sports Hub, Paya Lebar commercial vibrant district, the central business district as well as the future Kallang Riverside.

In closing comment, Mr. Ng said that with the buoyant new launch sales of NoMa and Arena Residences in Hot Geylang area, they are not surprise that the developers place a huge radar in this vicinity and it’s a matter of time the attractive Advance Apartment site will be picked up by one of them.

With this 3rd collective success, it will heat up the en bloc fever temperature and the temperature is rising…

Advance Apartment Site En Bloc Details

  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 11,429 square feet

  • Gross Floor Area: 32,001 sq ft

  • Total Units: 14

  • Gross Plot Ratio: 2.8

  • Address: 8 Lorong 25A Geylang

  • District: 14

  • Nearest MRT: Aljunied MRT

  • Marketing Agent: JLL Singapore

  • Reserve Price: S$26.5 million 

  • Sale Price: S$26.5 million

  • Date of Sale: December 2020

  • New Development: TBA

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