Baode Building Enbloc to Amitabha Buddist Society for $27m

On Dec. 14, 2021, a new tender was opened for the sale of the Baode Building. It was sold for S$27 million in a private deal after the new tender.

Amitabha Buddhist Society (Singapore) bought the 8-storey residential apartment located at 8 Lorong 35 Geylang for its expansion plans. It has 14 apartment units on a site area of 1,031.4 square meters (sq m) (about 11,102 square feet).

The buyer lives next at 693 Geylang Road. On Monday, he put down 5% of the sale price for the house.

This means that the price of S$27 million is the same as what the owners wanted. This means that the land rate is S$1,007 a square foot per plot ratio (psf ppr).

Each unit owner will get an estimated gross sale profit of S$1.92 million to S$1.94 million if the property is sold, which needs final approval from the Strata Titles Board. This is based on the size of their unit.

The units in the house range from 113 sq m to 115 sq m.