GSM Building, a commercial building in district 7 has launched for en bloc sale with an asking price of S$98 million.
According to Mount Everest Properties, the appointed agent of the collective sale, beside the reserve price there is an upgrading premium at around S$18.6 million.
The 99-year Leasehold site covers an area of 12,003 square feet and there is 63 years of lease balance left for the site.
Under the URA Master Plan 2019, the commercial site has a plot ratio of 4.2 and a height restriction of up to 16 storeys. Beside that it is only zoned for commercial use.
The building has huge advantages as it has wide double-frontage and visibility, located at the junction and facing middle road and Waterloo street.
GSM building consists of 33 units which on the ground floor anchored by 3 retail units and on the upper floors occupy by 30 office units.