Grade A office rents in Singapore’s central business district (CBD) rose for the eighth straight quarter, hitting a 10-year high at S$9.93 per square foot per month (psf pm). This is up 12.6 per cent from a year ago, according to Colliers Research data. Out of the six office micro-markets tracked, rental growth remained the strong in the Beach Road or Bugis area, rising 18 per cent from a year ago,...
A row of four freehold, adjoining conversation shophouses – which caught fire earlier this year – in Geylang have been launched for sale via expression of interest, with a guide price of S$14 million, property consultancy Knight Frank Singapore said on Tuesday. In March, a massive fire broke out early in the morning to fully engulf five of seven double-storey shophouses along the row. The fire...
The iconic Eu Yan Sang Building in Chinatown has been launched for sale with a guide price of S$62.5 million, the property’s exclusive marketing agent JLL said on Monday. Built in 1910, it housed the first traditional Chinese medicine Eu Yan Sang outlet in Singapore set up by its founder Eu Tong Sen. The building was designed by architect Alfred Bidwell from the firm Swan & Maclaren, whose other...
Co-working space provider WeWork is set to take over the lease of the 21-storey HSBC building in Collyer Quay, marking an expansion by the US firm in Asia. WeWork, backed by Japan's SoftBank Group, will lease the building from CapitaLand Commercial Trust (CCT), the Singaporean office landlord said in a statement on Wednesday (Jul 17). The tower, 21 Collyer Quay, will be WeWork's biggest property in...
A row of six adjoining three-storey shophouses along Joo Chiat Road has been put for sale via public tender, real estate services firm CBRE said on Wednesday afternoon. To be sold as a bundle, the conservation shophouses are located at 454, 456, 458, 460, 462, and 464 Joo Chiat Road. They sit on a freehold site of about 7,400 square feet (sq ft) and the total existing built-up area is around 13,000...
71 Robinson Road is all set to change hands and a sale is in the works for this 15-storey office block. It has been reported in the media that Sun Venture, the property investment group is busy conducting exclusive due diligence, for which it has been granted the rights with the aim to purchase this office property. It is being estimated that the price for this acquisition would be around S$2,800 psf...
A sale is in the works for 71 Robinson Road. The Business Times understands that property investment group Sun Venture has been granted exclusive due diligence with a view to buy the 15-storey office block. The pricing is slightly under S$2,800 per square foot of net lettable area (NLA), which would translate to an absolute price in the region of S$660 million. The pricing would reflect a net yield...
Co-working space provider JustCo will open at Manulife Centre in the fourth quarter of 2019, it said on Wednesday. JustCo at Manulife Centre will take up more than 50,000 square feet (sq ft) and occupy two levels of the building, which is at Bras Basah’s Art and Heritage district. The new space is expected to house more than 1,000 members, and will bring JustCo’s portfolio to a total of 33...
The new Funan mall welcomed its first customers on Friday morning, unveiling its new look after a S$560 million renovation which took three years. The former IT mall, which closed in mid 2016 for redevelopment, has swapped its geeky image for a swankier lifestyle vibe. A six-storey steel structure called the Tree Of Life forms the centrepiece of the revamped mall, housing retail pods for brands to...
The entire 30th floor located in Grade A office building Springleaf Tower is up for sale via an expression of interest exercise, with a guide price of S$29.5 million. This works out to about S$2,746 per square foot (sq ft) based on the strata area of 10,742 sq ft, exclusive marketing agent CBRE said on Wednesday. There will be no additional buyer's stamp duty or seller's stamp duty. Springleaf Tower,...
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