Entities connected to veteran property investor Stanley Quek are understood to be selling a pair of adjoining shophouses in Duxton Hill and a shophouse in Stanley Street in separate deals totaling S$37.3 million. The pair of shophouses at 40 and 41 Duxton Hill are changing hands at S$24.8 million. They are on two separate land lots, but the units are linked, forming a distinctive corner shophouse...
General
When it comes to renting an office in downtown Singapore, the tables have turned. Landlords now have the upper hand in rental negotiations, with leasing rates in the city-state's prime business districts rising at the steepest pace in more than four years. And with both demand accelerating and supply dwindling, rents are forecast to remain firm until at least 2022, when new supply is expected to come...
Elias Green is the latest condominium to hit the en bloc market in search of a buyer. According to PropNex Realty's Richard Hau, the owners of the 419-unit Pasir Ris condo will launch a public tender for the site on Monday with a S$780 million reserve price. This means that the owners of the 516,877 sq ft development could each walk away with S$1.7 million to just below S$2 million. The condo,...
JTC has launched a 0.77 hectare industrial site in the Kranji area for tender, the fourth of six Confirmed List sites under the Industrial Government Land Sales (IGLS) programme for the second half of this year. The Jalan Lam Huat (Plot B) site has a gross plot ratio of 2.5 ha and is zoned B2, meaning the site may be used by heavy industries that have a greater environmental impact. It has a lease of 20...
For six months, Ms Hanna Sim was trying in vain to rent out her 1-bedroom apartment at private condominium Kingsford Hillview Peak. Her tenant search ended after her property agent lowered the monthly asking rent from an initial S$2,000 to S$1,750. With a lower rental income, the 30-year-old is making a loss out of her 52 sq m shoebox apartment in Hillview. To break even, she would need a tenant who...
Singapore Land Authority (SLA) has appointed Colliers International to lease and manage 183 black-and-white heritage bungalows across various Singapore neighbourhoods. The bungalows under Colliers' care range in land area from 800 to 13,200 square metres and are located at various exclusive residential neighbourhoods including Adam Drive, Holland Road, King Albert Park, Tanglin Road and Watten Estate...
Campfire Collaborative Spaces from Hong Kong is muscling in on Singapore's shared office space, with the startup announcing it has leased all 16 floors at 139 Cecil Street. The site is currently an 11-storey building undergoing major renovation to add five more floors, which Campfire said includes a roof terrace with an "industry-first sky pool, rooftop bar, outdoor dining area and cabanas" for...
The Urban Redevelopment Authority's (URA) rental index of retail space in the central region of Singapore slipped 1.2 per cent in the third quarter of 2018 over the previous three months. This follows a 1.1 per cent quarter-on-quarter decline in the previous quarter. However, URA's price index of retail space in the central region rose 0.3 per cent quarter on quarter in Q3 after easing 1.3 per cent...
Office rents in the central region of Singapore rose 2.5 per cent in the third quarter of this year over the previous three months, property data from the Urban Redevelopment Authority (URA) on Friday showed. This is a quicker pace of gain than the 1.6 per cent increase posted in the previous quarter. Year on year, the rental index is up 9.6 per cent. The latest reading marks the fifth consecutive...
M+S Pte Ltd, the joint-venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdlings, has appointed JLL to advise it on the sale of the office, hotel and retail components of the Duo project along Beach Road, said sources. They told The Business Times that the combined asking price for the above components is about S$2 billion. The joint-venture company has sold almost all the 660...