Loft68 at Geylang up for sale with S$14.9m asking price

Loft68 at Geylang up for sale with S$14.9m asking price

Sep 22, 2021

LOFT68, an apartment building located at 6 and 8 Lorong 19 Geylang, is up for sale with an asking price of about S$14.9 million, Mount Everest Properties said in a statement on Wednesday.

The freehold site has an area of 5,583 square feet (sq ft) with a gross plot ratio of 2.8 and an allowable height of up to eight storeys. The site is zoned for residential or institutional use.

The asking price translates to a land rate of S$949 per sq ft per plot ratio (psf ppr) or S$977 psf ppr, after factoring in the 7 per cent bonus balcony gross floor area and a corresponding estimated development charge of about S$1.5 million.

Marketing agent Mount Everest Properties said a boutique developer can potentially configure the allowable gross floor area of 15,900 sq ft to accommodate up to 17 apartments with an average size of between 850 and 925 sq ft.

The property, which is a 10 minute walk from Aljunied MRT station, is also near food and beverage outlets, leisure and lifestyle options, and nearby districts including Paya Lebar Centre, Singapore Sports Hub, the central business district as well as the future Kallang Riverside.

The tender exercise closes at 3pm on Oct 13.