GSM Building, a commercial property which located at 141 Middle Road has launched for en bloc sale after 80% of its owners consented to the sale.
According to marketing agent Mount Everest Properties, the asking price is set at S$98 million with addition of upgrading premium at around S$18.6 million
The enbloc site sits on a land area of 12,003 square feet with lease balance of 61 years left.
As per URA Master Plan 2019, the prime site has a plot ratio of 4.2 and mainly zoned for commercial use only. There is a height restriction of up to 16 storeys, the marketing agent added.
The commercial property is a double-frontage building that sits on the junction of middle road and Waterloo street with good visibility.
GSM Building has a total of 33 units which 30 office units located on the upper floors and 3 retail units on ground floor.
The prime commercial site in district 7 is easy access from the 3 MRT Stations nearby and only require a few mins walk.
Its is well connected with 3 different lines: Downtown Line, Circle Line and East-West Line. With Stations like Bencoolen, Bras Basah and Bugis only a few hundred meters away from the site.
Another advantage of the commercial site is that it is close to healthcare, shopping and lifestyle amenities that include Singapore Art Museum, Raffles Hospital and Bugis Junction.
Furthermore, being part of prime district 7 and tourist zone, there are many interesting places to visit and explore.
Good educational institutions are also nearby including Lasalle College of the Arts and Singapore Management University.
The GSM Building’s public tender exercise will close on July 16 at 3 pm.