Redevelopment site at 693 Geylang Road up for sale

The tender will close on September 6 at 3PM, so be quick.

According to a release, international property consultant, Colliers International has put up for sale by tender, a re-development site located at 693 Geylang Road. 

An envelope control site located in the Geylang Conservation Area, the subject property has an area of some 6,488 sq ft and is regular in shape. It has a 99-year leasehold tenure and is currently occupied by a two-storey detached development, which was previously used as a club-house by an association.

Under the 2008 Master Plan, the site is zoned for “Residential/Institution” use with a gross plot ratio of 2.8.

Ms Grace Ng, Deputy Managing Director of Colliers International, says, “Given that the siteis in a locality which will get more bustling – with the transformation of Paya Lebar Central into a majorcommercial hub, as well as the expected completion of the Circle Line end of this year, the successfulbuyer can consider re-developing the site to accommodate a seven-storey residential development comprising about 30 units of some 600 sq ft each.

Already, recent transacted prices for nearby new residential developments, such as The Water Edge, range between S$1,050 per sq ft and S$1,430 per sq ft.”

Ms Ng continues, “Alternatively, a community institution such as an association clan or a religious
organization would also be ideal for the site. This would complement the thriving residential, commercial and cultural vicinity comprising mosques, temples, clans, trade associations and several ethnically-architectural conservation buildings.”

The immediate locality comprises a mixture of shophouses, budget hotels, religious buildings, as well as residential and commercial developments. Amenities such as supermarkets, food and beverage establishments, banking and entertainment facilities, can be found at the nearby shopping malls including City Plaza, Grandlink Square and Tanjong Katong Complex. Access to other parts of the island is via the Paya Lebar MRT and the Circle Line, East Coast Parkway, Nicoll Highway and Pan Island Expressway.