Freehold Geylang redevelopment site for sale at $33 mil

A freehold plot at 30 and 32 Lorong 22 Geylang has been launched for sale at a guide price of $33 million, or $928 psf per plot ratio.

The 12,693 sq ft site is zoned for commercial/institution use with an allowable plot ratio of 2.8. It is currently occupied by two three-storey apartment blocks comprising 12 units.

According to SRI Capital Market, which is handling the sale, the site can be redeveloped into a commercial building, entertainment hub or recreation club. Other potential uses include a commercial school or community institution, subject to approval from the relevant authorities.

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“The zoning provides prospective buyers with greater flexibility in considering the property’s future redevelopment potential,” says Low Choon Sin, managing partner of SRI Capital Market.

Located off Guillemard Road, the site is close to commercial, recreational and community amenities, including KFF Badminton Arena and Kallang Sports Hub, as well as several religious institutions.

The site could also benefit from rejuvenation plans in the wider Kallang precinct under the Kallang Alive Masterplan, which aims to strengthen the area as a lifestyle and recreational destination.

“The property is well positioned to appeal to investors, owner-occupiers and developers seeking a freehold redevelopment site with multiple potential end-use possibilities, while benefiting from the established amenities and activity in the Geylang precinct,” says Bruce Lye, managing partner of SRI.

The public tender for 30 and 32 Lorong 22 Geylang will close on Sept 22 at 3pm.