Bagnall Court up for collective sale at $125 mil
Tan Hong Boon, executive director of capital markets at JLL, assumes the place to bring in interested competition from medium-sized firms, provided its “manageable quantum” against a lot wider Government Land Sale (GLS) spots. “The guide cost of $125 million is an incredibly reasonable pricing for a freehold household site of such dimension as it contrasts really positively with numerous current sales of rural 99-year leasehold sites, which are already at these price index,” he adds.
The guide rate converts to a land price of about $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and also thinking about a projected land premium for the state property. Inclusive of an extra 8% special GFA, the unit land premium will certainly be around $1,180 psf ppr. JLL highlights hat the unit land rates are determined based upon the former development fee rates as of March 1, as the modified prices to be reliable from Sept 1 have yet to be introduced by the appropriate authority in the midst of switch from the development fee system to the colony improvement cost.
The building was integrated in the 1990s and comprises 43 walk-up houses, proliferated throughout 2 stops that are four floors each. It has a land area of 69,563 sq ft zoned for residence usage with a gross plot ratio of 1.4 and also an allowed elevation of as much as five storeys.
JLL notes that the property has a development primary equivalent to a gross plot ratio of regarding 1.4904. As such, only a relatively tiny part of the additional gross floor section GFA draws in a land improvement charge. There is even 4,600 sq ft of remnant state land that can likely be amalgamated into the area for redevelopment, allowing for additional brand-new units.
Various other amenities neighboring feature Eastwood Centre and Bedok Food Centre, which are within strolling range. Changi City Point, East Town, and also the Simpang Bedok collection of restaurants are within brief driving distance.
Consisting of the state area as well as based upon the minimum ordinary unit measurements of 85 sqm (914 sq ft), the location may suit approximately 113 houses.
Bagnall Court, an estate home property development situated on Upper East Coast Highway, is up for combined sale by tender at a guide cost of $125 million. More than 80% of owners have actually consented to the sale, according to advertising representative JLL.
Bagnall Court is located at the end of Upper East Coast Highway near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and also Bedok Camp. It is adjacent to the upcoming Sungei Bedok MRT Terminal, which is an interchange for the Downtown and also Thomson-East Coast Lines schedule to open in 2025.
The tender will close on Oct 26 at 3pm.