The shophouse is close to Kallang and also Aljunied MRT Stations on the East-West Line. Neighboring shopping center consist of Paya Lebar Quarter, Paya Lebar Square, and SingPost Centre.
One of the most current launch in the area was the 110-unit Rezi 24 on Lorong 24 Geylang, which was introduced to buy in March 2019.
The site is zoned for domestic use or institutional usage with a gross plot ratio of 2.8, and also an allowable height of as much as eight floors, based on the latest Master Plan. According to the marketing representative, the shophouse is currently totally tenanted.
The structure remains on a 5,583 sq ft site and also has a floor area of about 12,000 sq ft. Thus, the asking price translates to a land rate of $3,224 psf, or concerning $1,500 psf on the flooring area.
Based on EdgeProp’s Landlens analytics device, there have actually been 2 current en bloc transactions in the vicinity. They entailed Advance Apartments on Lorong 25 Geylang, which transacted for $26.5 million ($ 1,270 psf) in December 2020, and also Yuen Sing Mansion on Lorong 13 Geylang, which was cost $15.2 million ($ 1,580 psf) in August 2020
A freehold shophouse at 6 Lorong 19 Geylang has actually been put up for sale through expression of interest with a $18 million asking rate. The residential property is marketed by Mount Everest Properties.