Bagnall Court up for collective sale at $125 mil
Bagnall Court lies at the end of Upper East Shore Road near the Bedok Street junction, opposite the Laguna Gold and Country Club as well as Bedok Camp. It is adjacent to the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Coast Lines slated to open in 2025.
JLL notes that the building has a development baseline equivalent to a gross plot ratio of concerning 1.4904. Thus, only a reasonably little part of the additional gross flooring section GFA draws in a land betterment cost. There is also 4,600 sq ft of remnant state land that could likely be joined together within the location for redevelopment, permitting added new units.
The guide rate equates to a land cost of around $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 property. Inclusive of an additional 8% special GFA, the unit land premium will certainly be about $1,180 psf ppr. JLL highlights hat the unit area prices are determined based upon the previous project fee prices since March 1, as the changed rates to be reliable from Sept 1 have yet to be publicized by the related authority among shift from the development cost system to the colony improvement cost.
Various other facilities nearby feature Eastwood Centre as well as Bedok Food Centre, which are within strolling proximity. Changi City Point, East Town, and also the Simpang Bedok cluster of restaurants are within short driving range.
Featuring the state area as well as based upon the smallest ordinary unit size of 85 sqm (914 sq ft), the place may suit up to 113 condos.
The residential property was built in the 1990s and makes up 43 walk-up apartments, spread out around two stops that are four floors each. It has a land area of 69,563 sq ft zoned for property use with a gross plot ratio of 1.4 and also an allowable level of as much as 5 storeys.
Bagnall Court, a freehold non commercial property development located on Upper East Coast Road, is up for combined sale by tender at an overview rate of $125 million. Beyond 80% of owners have consented to the sale, according to marketing representative JLL.
Tan Hong Boon, executive supervisor of capital markets at JLL, anticipates the location to draw in interested competitors from medium-sized firms, given its “convenient quantum” opposing much wider Government Land Sale (GLS) areas. “The guide rate of $125 million is a really practical rates for a property residential site of such dimension as it matches up very favourably with several current sales of country 99-year leasehold places, which are already at these price levels,” he includes.
The tender will finalize on Oct 26 at 3pm.
