Property consultant and agent CBRE has been appointed to sell a prominent land site in Silom, Bangkok according to a press release.
The prime freehold property fronts directly onto Silom Road close to the junction with Narathiwas Ratchanakarin Road and comprises of a total land area of five rai.
The area has close access to the commercial district as well as being 120 metres from the BTS sky train.
After an extensive marketing campaign the site will be sold by formal tender with a submission date for bidding set for August 7, 2012.
The prime freehold property fronts directly onto Silom Road close to the junction with Narathiwas Ratchanakarin Road and comprises of a total land area of five rai.
The area has close access to the commercial district as well as being 120 metres from the BTS sky train.
After an extensive marketing campaign the site will be sold by formal tender with a submission date for bidding set for August 7, 2012.
“We are delighted to have been chosen for this prestigious instruction”, said David Simister, chairman of CBRE Thailand. “Offering the site for sale by tender will allow a level playing field for all potential buyers, both developers and end-users, and is the most fair and transparent method of sale.”
Sites on Silom Road are capable of development at a 10:1 plot ratio and the site has many potential uses ranging from residential condominiums to commercial properties.
“Developers and major commercial organizations all appreciate that the opportunity to acquire such a significant site on a prime road is becoming increasingly rare,” said Simister. “Access to the BTS further improves the site location, and prime land sale transactions in central Bangkok continue to set new records in terms of price per square wah.”
Bangkok’s property market has had increasing take-up and price increases in condominiums, offices, and retail. Over the last five years, land prices have consistently appreciated in value, mainly due to scarcity and the fact that prime sites rarely become available.
“It has been over 10 years since a large freehold site has been available on Silom Road,” CBRE Thailand’s head of Investment & Land Services, executive director, Kulwadee Sawangsri. “This is very a rare opportunity and we expect significant interest. Over the last 5 years, we have handled several high profile disposals of major sites and buildings in Bangkok and we expect to be very busy with viewings.”
by Property Report
Sites on Silom Road are capable of development at a 10:1 plot ratio and the site has many potential uses ranging from residential condominiums to commercial properties.
“Developers and major commercial organizations all appreciate that the opportunity to acquire such a significant site on a prime road is becoming increasingly rare,” said Simister. “Access to the BTS further improves the site location, and prime land sale transactions in central Bangkok continue to set new records in terms of price per square wah.”
Bangkok’s property market has had increasing take-up and price increases in condominiums, offices, and retail. Over the last five years, land prices have consistently appreciated in value, mainly due to scarcity and the fact that prime sites rarely become available.
“It has been over 10 years since a large freehold site has been available on Silom Road,” CBRE Thailand’s head of Investment & Land Services, executive director, Kulwadee Sawangsri. “This is very a rare opportunity and we expect significant interest. Over the last 5 years, we have handled several high profile disposals of major sites and buildings in Bangkok and we expect to be very busy with viewings.”
by Property Report
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