GS Building Lorong Ampas Site Sold En Bloc to JVA Venture Instagram

GS Building Lorong Ampas Site Sold En Bloc to JVA Venture for S$67 million

JVA Venture has acquired the GS Building via collective sale for S$67 million, which is a little more than its reserve price of S$65 million.

The freehold commercial site, which is situated at 16, 18, and 20 Lorong Ampas, near the Whampoa River and Whampoa Park Connector, is home to an 18-unit industrial building with three storeys.

Edmund Tie states that because every owner has agreed to the collective sale, the Strata Titles Board’s approval is not necessary.

GS Building has a plot ratio of 2.5, and the land size is about 36,885 square feet. It is designated for Business 1 under the 2019 Urban Redevelopment Authority Master Plan.

According to Edmund Tie, the property’s sole marketing agent, the freehold site may also be rezoned to residential use with a plot ratio of 2.8, though this is subject to approval by the authorities (Feb 14).

Swee Shou Fern, Edmund Tie’s head of investment advisory, said that JVA Venture intends to convert the property into an industrial building by taking advantage of the dearth of high-quality, well-designed industrial space in the city’s periphery.

She mentions that since the tender was launched, the freehold commercial property has drawn multiple competing offers.

GS Building Sale Site Information

The GS Building is located in District 12, near the center zone of Singapore.

Because it is centrally located, it can easily access all the amenities that surround the enbloc site.

The Balestier Road precinct has the Zhongshan Mall, Velocity, and United Square shopping malls, as well as the Health City Novena medical center.

The Central Business District and Orchard Road may be reached quickly by car through the Central Expressway and Pan-Island Expressway.

The GS Building is the fourth property sold en bloc in 2023, and market observers anticipate that more sites will be acquired in the coming months… 

GS Building En Bloc All Details

  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 36,885 square feet

  • Total Units: 18

  • Plot Ratio: 2.5

  • Address: 16, 18 and 20 Lorong Ampas

  • District: 12

  • Marketing Agent: Edmund Tie

  • Reserve Price: S$65 million

  • Sale Price: S$67 million

  • Date of Sale: February 2023

  • Buyer: JVA Venture

  • New Development: TBA