Developer OKH Management has placed the top bid of S$27.2 million for the industrial site at Yishun Avenue 6. This is slightly more than double the minimum bid of S$11.5 million committed by an unnamed developed on March 8 this year. The top bid of S$27.2 million translates to about S$71 per square foot per plot ratio. The breakeven cost for this development is estimated to be between S$250 per square...
Industrial
UNITED Engineers (UE) has acquired an industrial property that it will use as its headquarters in Ang Mo Kio Street 64 for $25.18 million. It will be centralising most of its business operations - including its headquarters currently located in UE Square in the River Valley area - at the new property by the end of the year. The group will then rent out its prime headquarters space at UE Square, which...
UNITED Engineers (UE) has bought two industrial buildings at Ang Mo Kio for about $25 million, as part of plans to grow its portfolio in build-to-suit properties. Motorola owned the two buildings - Motorola Innovation Centre and Motorola Excellence Centre. They will collectively be known as UE BizHub Central after the ownership change. The two complexes have a total gross floor area (GFA) of 378,426 sq...
Construction firm United Engineers has acquired an industrial property in Ang Mo Kio for about S$25 million. The property to be renamed UE BizHub Central comprises two buildings. It has a seven-storey and a four-storey building linked by a skybridge with a total gross floor area of about 378,000 square feet. United Engineers plans to further modernise and expand the property's gross floor area to up to...
Units of a new development located in the Kaki Bukit Industrial Estate are being put up for sale. The development, called "First East Centre", sits on the first site that is zoned for "Business 2" use and can be used for most trades including engineering and manufacturing. First East Centre, developed by KNG Development, is a four-storey ramp-up industrial building located at 10 Kaki Bukit Road 2. The...
Singapore's industrial and office property markets are showing signs of improvement. Property consultancy DTZ Research on Wednesday said that islandwide office occupancy improved in the first quarter of this year. The average islandwide office occupancy rate rose 0.7 percentage-point on-quarter to 92.4 per cent. DTZ said the improvement in occupancy rate was due to an increase in demand. There was also...
Average monthly gross rent for hi-tech industrial space up 1.6% in Q1 Better days may be ahead for landlords of industrial space, with rents having stopped falling for some properties and even rising slightly for others. According to DTZ, the average monthly gross rent for hi-tech industrial space, including that at business and science parks, was $3.15 per sq ft in the first quarter of 2010. This is a...
Property consultancy Colliers International has launched the tender of a freehold industrial site at No.21, Kim Keat Road at an asking price of S$42 million. That works out to S$734 per square foot per plot ratio. This includes a possible development charge of S$25 million. Under the 2008 Master Plan, the site is zoned for 'Business 1' use. But the Urban Redevelopment Authority (URA) would consider...
It's clear skies for the industrial investment market with the influx of foreign investors, say LEE PEI YING and DONALD HAN THERE has been a change in foreign investors' perception of the industrial market over the last 10 years. Industrial properties have evolved from being a non-core investment product to a preferred asset class. This became more marked around 2008. Before that, en bloc industrial...
From Seletar Aerospace Park to Biopolis and Fusionopolis, estates showcase green technologies for a sustainable environment DEVELOPING industrial parks used to be relatively straightforward - clear the land, build the factory blocks and companies will come and set up their production lines. But JTC Corporation's job has got more complex over the years as Singapore's manufacturing sector moved up the...