Owners of Green Court, along Geylang Road, have put up their development for collective sale at a guide price of $28 million, according to marketing agent Knight Frank.
Green Court is a freehold, three-storey commercial and residential development comprising three ground-floor shops and six duplex walk-up apartments on the second level. It occupies a site of 9,628 sq ft.
The current development has a frontage onto Geylang Road, with provisions for eight parking lots. It is zoned for part commercial use with a gross plot ratio of 3.0, and part residential use with a GPR of 2.8.
The site is an eight-minute walk to Aljunied MRT Station on the East-West Line.
The tender for the site closes on Aug 18 at 3pm.
Retail rents to fall more sharply amid mounting mall vacancies
The Straits Times, 17 July 2020, Fri
By Ann Williams
Rents for retail space are expected to fall more sharply in this half of the year amid mounting vacancies stemming from the pandemic, according to a report yesterday.
It noted that while most retail businesses resumed operations from June 19 after the two-month circuit breaker, social distancing measures mean many activity-based tenants, such as those in food and beverage (F&B) and health and wellness, are unable to operate at full capacity.
This could lead to many businesses shuttering for good, in turn leading to a rise in vacancies in non-prime locations.
Read more at: https://www.straitstimes.com/business/property/retail-rent-to-fall-more-sharply-amid-mounting-mall-vacancies