Green Court along Geylang Road launched for sale

The tender for the mixed-use development will close on 18 August.

Knight Frank Singapore has announced the launch of the sale of Green Court by tender representing the interests of the owners via their collective sale committee.

The owners are expecting offers above their reserve price of $28m, including an additional development charge of approximately $5.24m payable to the authorities to maximise the gross floor area (GFA). This translates to a land rate of approximately $1,178 psf ppr.

Located in the vicinity of the developing Paya Lebar Central, Green Court is expected to benefit greatly from the rejuvenation of the area, slated to be one of the upcoming alternative hubs to the CBD.

Green Court is a freehold, three-storey commercial and residential development comprising three ground floor shops and six duplex walk-up apartments on the second level. It has a site area of 894.5 sqm or approximately 9,628 sqft. The current development has a prominent frontage onto Geylang Road, with provisions for eight parking lots.

Under the Urban Redevelopment Authority’s (URA) 2019 master plan, the site is uniquely zoned part “commercial” with a gross plot ratio (GPR) of 3, as well as part “residential” with a GPR of 2.8. This allows redevelopment potential to reach up to a combined maximum permissible GFA of approximately 28,216 sqft.

Further, the immediate vicinity is predominantly surrounded by commercial shophouses, apartments and hotels, and is close to retail malls and office buildings at Paya Lebar Central and the Tanjong Katong area.

Knight Frank Singapore will be the exclusive marketing agent of the mixed-use redevelopment site situated along Geylang Road. The tender for Green Court will close on 18 August.