Bagnall Court up for collective sale at $125 mil
The residential property was built in the 1990s and also comprises 43 walk-up houses, spread out throughout two neighborhoods that are 4 storeys each. It has an acreage of 69,563 sq ft zoned for non commercial usage with a gross plot ratio of 1.4 and even a permitted elevation of approximately 5 floors.
The overview rate equates to a land price of about $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 as well as considering a projected land rates for the state land. Inclusive of an added 8% additional GFA, the unit land charge will certainly be approximately $1,180 psf ppr. JLL highlights hat the unit land charges are estimated based upon the previous project charge rates as of March 1, as the revised prices to be efficient from Sept 1 have yet to get revealed by the relevant authority between shift from the development charge system to the colony improvement charge.
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Various other facilities close-by include Eastwood Centre as well as Bedok Food Centre, which are within strolling range. Changi City Point, East Town, as well as the Simpang Bedok collection of dining establishments are within short driving range.
Featuring the state area and based upon the smallest average unit measurements of 85 sqm (914 sq ft), the location might suit approximately 113 houses.
Tan Hong Boon, executive director of capital markets at JLL, anticipates the location to attract eager competitors from medium-sized developers, offered its “manageable quantum” against considerably bigger Government Land Sale (GLS) sites. “The guide price of $125 million is a really practical prices for a freehold household area of such dimension as it compares truly favourably with a number of recent sales of rural 99-year leasehold places, which are already at these price index,” he adds.
Bagnall Court, a property home project located on Upper East Coast Highway, is up for combined sale by tender at an overview price of $125 million. More than 80% of owners have actually consented to the sale, according to advertising broker JLL.
JLL marks that the building has a property standard comparable to a gross plot ratio of concerning 1.4904. Therefore, just a relatively small area of the bonus gross floor area GFA attracts a land improvement charge. There is additionally 4,600 sq ft of remnant state land that may potentially be integrated within the site for redevelopment, enabling added brand-new units.
Bagnall Court lies at the end of Upper East Shore Route near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and Bedok Camp. It is adjacent to the upcoming Sungei Bedok MRT Terminal, which is an interchange for the Downtown and Thomson-East Shore Lines schedule to open in 2025.
The tender will close on Oct 26 at 3pm.
