The former Changi Military Camp at Hendon Road has been offered for development as a hotel. This is the second state property that has been put up for hotel use. The first state property that has been converted for hotel use is No. 175A Chin Swee Road. It is now a boutique business hotel called Hotel Re!. The former military camp has a land area of 9,666 square metres – slightly larger than a football...
Land Sales
Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio. The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space. Consultants Colliers International said the top bid is in line with price expectations for sites...
The Singapore Land Authority (SLA) has awarded the first two sites for transitional office space this year. One of the most keenly-watched sites was the former Home Affairs Ministry complex at Phoenix Park. The parcel was awarded to LHN Facilities Management, which will pay S$368,888 in rent per month. 11 bids were received for the Phoenix Park site, 10 of which were above the guide rent of S$165,000...
Property developer Hiap Hoe has put in the top bid of S$73.3 million for a hotel site at Balestier Road and Ah Hood Road. The price works out to S$172 per square foot per plot ratio for the 99-year leasehold site. Consultants CB Richard Ellis said the bid is relatively low compared to other hotel sites. The site has a maximum gross floor area of 425,942 square feet, which can potentially yield some 675...
AN EXCITING cluster of shops, homes, entertainment centres, hotel and office space - all set within an attractive garden-like environment in the heart of Singapore’s city centre. This is the Urban Redevelopment Authority’s (URA) vision for the 2.7-hectare green field development site, :bordering Ophir and Rochor roads, it is putting out for tender. With analysts forecasting a possible land sales...
The Urban Redevelopment Authority (URA) has launched a white site for sale in the Ophir Rochor corridor. The announcement did not come as a surprise, as the government had already indicated it will be sold under the confirmed list of the land sales programme. The 2.7 hectare site is expected to be a mixed use cluster, acting as a connector between the existing financial district and the historical...
Frasers Centrepoint Trust has put in the top bid of nearly S$88 million for a residential site at Woodleigh Close. The price works out to S$270 per square foot per plot ratio. The next highest bid came from Hoi Hup Realty at about S$83 million. The lowest bid of S$74 million was put in by Sim Lian Land. The Urban Redevelopment Authority received six bids in total when the tender closed on Tuesday. The...
The National Development Minister, Mah Bow Tan, said the government decided on a more measured approach in its latest land sales programme, taking into account the country’s medium to long-term needs. Speaking on the sidelines of a community event, he said the strategy is to ensure that there’s sufficient land set aside for development in the medium term, while at the same time, not forcing supply...
PROPERTY watchers say they do not expect to see any sale of the hotel sites under the Reserve List during the coming quarter, because of the current cautious sentiment in the market. Under the Government Land Sales programme for the second half of the year announced on Thursday, 10 hotel sites were up for sale but only one via the Confirmed List. Hotel room rates have been rising as Singapore receives...
The government will release enough land to build about 7,960 private residential units in the second half of this year. The sites will also produce 400,000 square metres of gross floor area of commercial space and 5,750 hotel rooms. The details were released by the Ministry of National Development (MND) on Thursday when it announced the Government Land Sales (GLS) programme for the second half of...