A COUPLE of commercial property deals were sealed recently. Along Cantonment Road, two floors of the 16-storey freehold Southpoint office building are being sold for S$78.4 million or S$2,444 per square foot based on the strata area of 32,076 sq ft. In the Katong area, a pair of freehold adjoining shophouses at the corner of East Coast and Joo Chiat roads, currently leased to German restaurant chain...
Parklane Shopping Mall has 33 strata retail units located in the first level basement of the mall put up for sale via an expression of interest exercise, with an indicative value of S$55.7 million. This translates to around S$2,200 per square foot (psf) based on a total strata floor area of 2,352 square metres (sq m), real estate services firm Colliers International said on Wednesday. Due to the...
Fifteen strata offices at Peninsula Plaza have been put up for sale via tender with an indicative price of S$17.6 million, said exclusive marketing agent Cushman & Wakefield on Wednesday. That works out to S$2,255 per square foot (psf), with the offices also for sale individually. This is within the price range of recently transacted units at Peninsula Plaza which hit S$2,500 psf earlier in April...
Fund manager Arch Capital Management completed the acquisition of Anson House for S$210 million on Wednesday. The price works out to S$2,435 per square foot based on the 13-storey building's net lettable area (NLA) of 86,239 sq ft. This confirms a report in June in The Business Times Weekend, which had cited market watchers tipping Hong Kong based Arch Capital Management as the party that was doing...
A row of six adjoining conservation shophouses along Kampong Bahru Road has been launched for sale at a guide price of S$39.6 million, or about S$6.6 million each, marketing agents JLL and Tuscany Realty said in a press statement on Wednesday. Located at 69, 71, 73, 75, 77 and 79 Kampong Bahru Road near Outram MRT station, the six freehold two-storey shophouses can be sold either individually or...
Flexible space operator JustCo is set to lease a 16-storey building in Seoul's Gangnam business district for its largest location, raising its bets on growing demand for co-working space, while eyeing new markets like Japan, Vietnam and India. Co-working spaces have become popular among startups due to their flexibility of short-term leases in well-decorated spaces in prime locations and keep costs low....
Commerz Real has sold its 71 Robinson Road property to SV Robinson for S$655 million. SV Robinson is a real estate investment company which is a member the Sun Venture group of companies. The sale was done through its open-ended real estate fund hausInvest, Commerz Real said on Tuesday. Commerz Real was also advised on the sale by CBRE and JLL, with law firm Dentons providing legal consulting, and EY...
A joint venture between Malaysia sovereign wealth fund Khazanah and Singapore state investor Temasek is selling the office and retail units of its DUO property development in Singapore, it said late on Monday (Jul 29). The joint venture named M+S Pte Ltd will sell all the shares of its wholly owned subsidiary, Ophir-Rochor Commercial Pte Ltd, worth S$1.575 billion (US$1.15 billion) to Allianz Real...
Rents of office space in the central region of Singapore rose 1.3 per cent in the second quarter of this year over the previous three months. This contrasts with the drop of 0.6 per cent in the first quarter, according to figures from the Urban Redevelopment Authority (URA) released on Friday. URA's price index of office space in the central region rose 0.9 per cent in second quarter 2019, a slower pace...
Rents of retail space in the central region of Singapore declined 1.5 per cent in the second quarter of 2019 over the previous three months, after dipping 0.2 per cent in the first quarter of this year, according to data released by the Urban Redevelopment Authority (URA) on Friday. URA's price index of retail space in the central region rose by 0.4 per cent in the second quarter of 2019 over the...
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