Real estate services firm C B Richard Ellis has announced the public tender sale of Pasir Panjang Village. Located at the junction of South Buona Vista Road and Pasir Panjang Road, the freehold Pasir Panjang Village consists of a row of 14 conserved two-and-a-half-storey shophouses that are adjacent to the Village Centre. The 22,000-sq-ft site is zoned for both commercial and residential use. With a gross...
Industrial
Investment sales of industrial properties could set a new record of S$3 billion this year, said property consultants, easily outstripping last year's record high of S$1.9 billion. Analysts attribute the increase to more acquisitions by real estate investment trusts and an impending divestment by JTC. JTC, Singapore's largest industrial landlord, is expected to divest properties totalling some 1.7...
Rents and capital values of all industrial space in Singapore rose about five per cent in the first quarter from the previous three months.CB Richard Ellis says further increases are expected later in the year. The average monthly rents for warehouses improved by between 4 and 4.8 per cent during the three months to March. Rents were $1.30 per square foot for ground floor units and $1.10 per square foot...
The Ministry of Trade and Industry on Tuesday released six sites under the Government Industrial Land Sales Programme to meet continued demand for industrial land for the first half of this year. Of the six, two sites zoned for business use totalling 3.3 hectares are on the Confirmed List. They are at Tampines Street 92 and Kaki Bukit Road 3. Details for the Tampines site are expected to be released...
The Urban Redevelopment Authority has launched an industrial site in Tuas for sale by public tender. This after a developer committed to bid at least S$5.1m for the site at Tuas Bay Drive and Tuas South Avenue 3.The 60 year leasehold land parcel has a site area of about 3.7 hectares. It has a maximum permissible gross plot ratio of one but the successful bidder will be able to put up a building of up to...
The Urban Redevelopment Authority is inviting developers to apply to put a reserve site at Sin Ming Lane up for tender.The 5.13 hectare site is earmarked for industrial development. It has a lease of 30 years with a maximum permissible gross plot ratio of 2.5. An 8-storey building with about 128,000 square metres of maximum gross floor area can be built on the site. Under the government's land sales...
Ascendas REIT will build a distribution facility at Changi LogisPark for some $32.5m.The facility is expected to be completed by the start of 2008. A-REIT's existing customer Zuellig Pharma, a marketing and distribution company for pharmaceutical products, will be the anchor tenant. Zuellig has committed to leasing about 80 percent of the total lettable area for 10 years. In a statement, A-REIT said it...
JTC Corporation has launched a one-hectare land parcel at Serangoon North for sale by public tender.The 60-year lease industrial site has a maximum permissible gross plot ratio of 1.4 and is zoned for business development. It is one of three industrial sites being offered under the Government Land Sales programme for the second half of the year. The tender will close in six weeks. The third industrial...
Ascendas REIT says its distributable income for the first half of the year improved by 20 percent on year.This amounts to over S$80 million. This will give a distribution of 6.25 cents per unit for the six months to September. For the second quarter alone, its distributable income was up 19 percent to S$40 million. In line with the growing economy in Singapore, the property trust expects demand for...