Chancery Garden, a prime freehold mixed landed site in District 11, has been sold via private treaty for S$41 million. According to OrangeTee's Investment and Advisory Department, the S$41 million sale price translates to about S$1,391 per square foot over the land area. The three-storey block comprises 10 apartments and townhouses and has a site area of approximately 29,468 square feet. The size...
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The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Coronation Road to Athens Residential Development Pte. Ltd. The company submitted the highest bid in the tender for the site of S$366 million, about S$908.17 per square foot. Tender for the residential site was launched on 28 March 2013 and closed on 20 June 2013. The land parcel was offered for sale on a 99-year...
While “shoebox” flats have generally been attractive investments given their higher rental yields compared with other properties, analysts are warning that this may soon cease to be the case. Typically defined as units with a maximum floor size of 50 sq m, they have delivered an average gross rental yield of about 4.58 per cent so far this year, well above the 3.68 per cent that non-shoebox...
The Singapore government has set aside about 22.84 hectares of industrial land for the second half of this year. The Trade and Industry Ministry has placed a total of 22 sites under its Industrial Government Land Sales Programme. Analysts said medium-sized firms are most likely to benefit from this pipeline of land supply, which consist mostly of small sites with a shorter tenure. The government...
National Development Minister Khaw Boon Wan said the government has taken steps to help low-income tenants of rental flats who see their pay rises eaten up by a rental increase. In his blog, Mr Khaw explained how the government has helped those affected by this so-called "cliff effect" when they cross the income tier. Rentals are based on household income. Those who earn less are subsidised more and...
Eunosville, a former Housing and Urban Development Company (HUDC) estate, has been put up for collective sale. If successful, it will be the largest en bloc deal in six years. The announcement yesterday by sole marketing agent Jones Lang LaSalle came two years after the 330-unit residential estate was privatised and six years after the last successful en bloc sale of an HUDC site. Eunosville, directly...
The Urban Redevelopment Authority (URA) launched a 0.8-hectare commercial site at Cecil Street/Telok Ayer Street for public tender on Tuesday. URA had earlier received a commitment from a developer to bid at least S$623.73 million for the site. Under the Reserve List system, the site will be put up for sale by public tender as the minimum price committed by the developer is acceptable to the...
CapitaLand has acquired a 70-per cent stake in a mixed-use development in Shanghai for S$397.5 million. In a statement, the property firm said its wholly-owned business unit CapitaLand China bought a 70-per cent stake in Shanghai Guang Chuan Property Co Ltd, a unit of Shanghai Shentong Metro Assets Management (Shentong Assets). Shentong Assets is responsible for the development and asset management...
Hersing Corp is looking to sell its Asia-Pacific franchise for ERA Real Estate agency for up to S$200 million, according to a Dow Jones report citing sources with knowledge of the sales process. Hersing’s wholly-owned ERA Realty Network is Singapore’s largest real-estate agency with more than 4,800 salespeople. According to its website, Hersing also owns the master franchise rights for ERA Real...
Sales of new private homes, excluding executive condominiums, climbed 5.4 per cent to 1,455 units in May. This is compared to 1,380 new homes sold in April 2013, according to figures released by the Urban Redevelopment Authority (URA). The number of new private homes sold in the city fringes jumped by about 27 per cent from 473 units in April to 602 units in May. This was mostly due to new project...