GS Building sells for $67m

JVA Venture Pte Ltd won the tender for the property’s collective sale.

JVA Venture Pte Ltd acquired GS Building at 16, 18 and 20 Lorong Ampas for $67m, the property’s marketing agent, EDMUND TIE announced.

EDMUND TIE conducted the property’s en bloc of sale by public tender.

GS Building is a three-storey industrial building comprising 18 strata units. The building sits on a freehold redevelopment regular-shaped site in Whampoa.

The site’s land area is approximately 3,426.7 sq m (36,885 sq ft).

Under the Master Plan 2019, the site is zoned “Business 1” with a plot ratio of 2.5. A rezoning of the land to “Residential” with a plot ratio of 2.8 can also be considered, subject to authorities’ approval.