Office / Retail Space

Consortium buys conserved building Golden Mile Complex for S$700 million en bloc

The building will be "sensitively renovated," with special attention made to preserving its major features and unique terraced profile The Golden Mile Complex was sold for S$700 million to a consortium consisting of Perennial Holdings, Sino Land, and Far East Organization, according to Edmund Tie, the complex's sole marketing agent (May 6). This comes after the agency obtained "overwhelming support"...

Verdun House sold for $55.1m to Fragrance Group CEO

At a tender procedure that ended on April 26, 2022, Verdun House, an en bloc site in Farrer Park that is situated at the intersection of Verdun Road and Sam Leong Road, was sold for $55.1 million. The CEO of the Fragrance Group, Mr. James Koh, placed the highest offer. The transaction has the approval of the owners of 15 out of the 16 strata-titled apartments, or 93 percent of the complex. The Strata...

Tanglin Shopping Centre sold for S$868 million in 4th collective sale attempt

Savills Singapore, the mall's marketing agent, said on Wednesday that Tanglin Shopping Centre has been sold for S$868 million after its fourth collective sale effort (Feb 23). The building was sold to Pacific Eagle Real Estate, a Singapore-based developer owned by the Tanoto family, who has for over 50 years developed and managed the Royal Golden Eagle group of companies, which produces natural fibers,...

Peace Centre, Peace Mansion sold for S$650 million on fifth attempt

Peace Centre, a shopping mall, and Peace Mansion, an adjacent apartment complex, have been sold after a fifth attempt at a collective sale, according to exclusive marketing agent JLL (Dec 3). CEL Development, Sing-Haiyi Crystal, and Ultra Infinity formed a joint venture to purchase the mixed-use property on Sophia Road for S$650 million. The reserve price for the collective sale was established at...

Foreign buyers, family offices and funds hold up demand for shophouses

Following a significant surge in purchasing activity at the end of last year, continued interest from overseas purchasers, family offices, and institutional investors has maintained demand for shophouses in the first quarter of 2021. 51 transactions totaling S$328.3 million were registered in the first quarter of this year, as per data gathered on April 6. Despite the fact that this is less than the...

URA offers sweeteners to Orchard OG, Midpoint and Faber House to spur Orchard makeover

The Urban Redevelopment Authority (URA) is offering the owners of Midpoint Orchard, Orchard OG and Faber House sweeteners to spur them to redevelop as part of Singapore’s plan to rejuvenate its most famous shopping belt. Observers said that this could be a way to negotiate the tricky situation surrounding Midpoint Orchard – a strata-titled building which, The Straits Times understands, has about 60...

Siglap Shopping Centre to go on collective sale for S$120 million

Siglap Shopping Centre will be put up for collective sale by public tender on Tuesday (Oct 27), with the reserve price for the freehold mixed-use site on East Coast Road set at S$120 million, marketing agent OrangeTee Advisory said on Monday. Completed in around 1980, the three-storey development at 883 to 903A East Coast Road is made up of eight residential units and eight commercial units sitting on...

Singapore commercial property investment sales pick up in Q3; demand for GCBs resilient

The buzz may be returning to Singapore's real estate investment sales market, with interest and activity recovering in the commercial sector in particular during the July-September quarter, compared with preceding quarters. That being said, overall, investment sales - defined as transactions totalling S$10 million and more - in the city-state was still down 55.1 per cent year on year to about S$4.4...

Grade A office leasing in Singapore ‘sluggish’ in Q3: Cushman & Wakefield

Leasing activity for Grade A offices in Singapore came to a halt during the "circuit-breaker" period and remained sluggish during the third quarter this year, according to a press statement by Cushman & Wakefield (C&W) on Tuesday. In the face of business uncertainty, tenants with immediate lease expiries are seeking short-term renewals. And with office space underutilised as work from home remains the...

Amazon to take Citigroup’s office space in Singapore

Amazon is planning to take over some of Citigroup's office space in Singapore at a time when a number of the e-commerce giant's Chinese tech rivals are expanding here. The online retail giant will lease three floors covering about 90,000 square feet at Asia Square Tower 1 in the heart of the financial district, according to people with knowledge of the plans. Staff will move into the new offices...

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