Bagnall Court up for collective sale at $125 mil
JLL notes that the apartment has a property standard equal to a gross plot ratio of concerning 1.4904. Thus, just a reasonably tiny area of the extra gross flooring area GFA brings in a land betterment cost. There is also 4,600 sq ft of remnant state land that could possibly be amalgamated within the area for redevelopment, enabling additional brand-new units.
The guide rate equates to a land cost of relating to $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and thinking about an estimated land rates for the state land. Inclusive of an extra 8% additional GFA, the unit land rate will be approximately $1,180 psf ppr. JLL highlights hat the unit property charges are assessed based on the former property cost rates since March 1, as the revised fees to be efficient from Sept 1 have yet to get announced by the related authority between transitioning from the development charge system to the colony improvement cost.
Other services neighboring feature Eastwood Centre and Bedok Food Centre, which are within walking range. Changi City Point, East Village, as well as the Simpang Bedok cluster of eateries are throughout brief driving distance.
Tan Hong Boon, executive supervisor of capital markets at JLL, projects the site to attract interested competition from medium-sized developers, given its “workable quantum” versus considerably wider Government Land Sale (GLS) areas. “The overview price of $125 million is an incredibly affordable prices for a property residential location of such dimension as it matches up very positively with several current sales of suburban 99-year leasehold places, which are currently at these price index,” he includes.
Bagnall Court, a freehold home development located on Upper East Coast Roadway, is up for cumulative sale by tender at a guide value of $125 million. More than 80% of owners have actually granted the sale, according to advertising and marketing agent JLL.
Bagnall Court is located at the end of Upper East Coastline Highway near the Bedok Street junction, opposite the Laguna Gold and Country Club and Bedok Camp. It adjoins the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and also Thomson-East Coastline Lines slated to open up in 2025.
The building was built in the 1990s and consists of 43 walk-up houses, proliferated throughout 2 stops that are four 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 height of approximately five floors.
Including the state land and also based on the minimal average unit dimension of 85 sqm (914 sq ft), the location may fit approximately 113 flats.
The tender will finalize on Oct 26 at 3pm.