Cushman & Wakefield has put up a notice for the sale of three freehold properties for commercial use, 49, 51 Lorong 16 Geylang & 43 and 45 Westerhout Road. The properties belong to a single owner.
The three land plots can be sold separately or collectively. The three plots are next to each other, although the address of the first two plots (Plot A and B) is 49, 51 Lorong Geyland, and the address of the third plot (Plot C) is 43,45 Westerhout Road.
The land area of Plot A+B is around 815.6 sq m or 8,779 sq ft, and the land area of Plot C is 368 sq m or 3,961 sq ft. In total, the land area of the three plots is around 1,183.6 sq m or 12,740 sq ft. According to the C&W material, the price is less than $1,103 psf per plot ratio (ppr) based on a plot ratio of 2.8 and a previously granted outline permission.
The previous outline permission was for an eight-storey mixed-use commercial development with shops on the first story, and offices at the second to eighth storeys.
The land plots have a freehold title, and there is the potential to subdivide the property in the future as strata-titled office units.
