At a guide price of $85 million, the commercial building GSM Building is being offered for collective sale
GSM Building, an office building located situated at 140 Middle Road, is being revived for a collective sale with an unaffected estimate of $85 million.
This 99 year leasehold property was initially listed for auction during August of 2022 with the same price guide. The tender closed 13 September 2022. Based on Mount Everest Properties, the agency that markets the property an offer of $85 million was made on behalf of the site was later withdrawn prior to the sale and purchase agreement was agreed upon.
Skywaters Residences brochure set for every living convenience since the Central Business District is just a hop, skip and jump away.
Before this, the owners of GSM Building had attempted an open-ended selling of their property in June of 2020. The property was listed to be sold with the price set at $98 million.
GSM Building is located at the intersection of Middle Road and Waterloo Street. It is home to two shops on the ground floor, and thirty-one office spaces on upper levels. The building is situated on a 12,003 square feet site which is designated for commercial use. The plot is subject to an agreement for a balance lease of 59 years.
Based on Mount Everest Properties, the site has received an advisory from URA which supports a preliminary permission application for the preliminary development of the site to a mixed-use commercial or residential project.
GSM Building is located within close proximity to three MRT stations, including Bencoolen Station (Downtown Line), Bras Basah Station (Circle Line) and Bugis Station Interchange (East-West Line and Downtown Line), all within a five-minute walking distance.
It is within easy access to shopping, lifestyle and healthcare facilities. These comprise Bugis Junction, Bugis+, Bugis Village, Sim Lim Square, Raffles Hospital as well as the Singapore Art Museum. The nearby co-living and hospitality amenities comprise Mercure Hotel InterContinental Hotel and JW Marriott Hotel.
The tender process is open for GSM Building closes on Jan 27 at 12 noon.