The website is zoned for household usage or institutional use with a gross plot ratio of 2.8, as well as a permitted height of up to eight storeys, based upon the most recent Master Plan. According to the advertising and marketing representative, the shophouse is presently completely tenanted.
The building sits on a 5,583 sq ft website as well as has a floor area of regarding 12,000 sq ft. Thus, the asking rate translates to a land price of $3,224 psf, or concerning $1,500 psf on the floor location.
Based upon EdgeProp’s Landlens analytics device, there have been two current en bloc purchases in the vicinity. They entailed Advance Apartments on Lorong 25 Geylang, which negotiated for $26.5 million ($1,270 psf) in December 2020, as well as Yuen Sing Mansion on Lorong 13 Geylang, which was cost $15.2 million ($1,580 psf) in August 2020.
An estate shophouse at 6 Lorong 19 Geylang has actually been put up for sale via expression of interest with a $18 million asking cost. The home is marketed by Mount Everest Properties.
The shophouse is close to Kallang and Aljunied MRT Stations on the East-West Line. Close-by mall consist of Paya Lebar Quarter, Paya Lebar Square, and also SingPost Centre.
The most recent launch in the area was the 110-unit Rezi 24 on Lorong 24 Geylang, which was introduced to buy in March 2019.