Three freehold plots zoned for commercial/institution use off Geylang Road are up for sale by private treaty with a guide price of $31 million. The plots will be sold with vacant possession on an as-is-where-is basis.

The plots comprise a pair of adjoining terrace houses along Lorong 16 Geylang that interconnect at the rear with another pair along Westerhout Road. Two of the plots, Plots A and B, front Lorong 16 Geylang and have a combined area of 8,779 sq ft. The third, Plot C, fronts Westerhout Road and measures about 3,961 sq ft.

Together, the plots make up an L-shaped land parcel spanning six property addresses. The combined plots have a total land area of approximately 12,740 sq ft. The site has a plot ratio of 2.8.

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According to Cushman & Wakefield, which is handling the sale, the plots previously received Outline Planning Permission for an eight-storey, mixed-use commercial development comprising shops on the first storey, and office space on the remaining storeys, which would maximise the allowable plot ratio of 2.8. The firm adds that the guide price of $31 million translates to $1,103 psf based on the max permissible GFA, inclusive of the land betterment charge.

The plots may be acquired collectively or individually. Plots A and B are collectively priced at about $21.36 million, while Plot C is priced at $9.64 million. Cushman & Wakefield adds that the plots have future potential for strata subdivision, subject to approval from authorities, which would allow the divestment of strata-titled office and retail units.

Shaun Poh, executive director for capital markets at Cushman & Wakefield, believes the site’s redevelopment potential will make it appealing to local players in Singapore. “We also foresee interest from associations seeking space for their own religious or institutional operations,” he says.

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