A number of shop owners at Queensway Shopping Centre have banded together to resist the proposed collective sale of the 45-year-old development, even as residents at the adjacent housing apartment Queensway Tower seem geared up for a sale. This is the first time the mixed development site - which sits on a land area of about 100,000 sq ft - is being put up for sale, said Ms Suzie Mok, senior director of...
Sim Lim Square on Rochor Canal Road has been put up for collective sale via public tender at a reserve price of S$1.25 billion on April 29, marketing agent SLP International Property Consultants announced on Monday. The retail strata mall, one of Singapore’s largest IT shopping centres, comprises six floors and two basements, housing 492 commercial units. It sits on a 99-year leasehold site with a...
Office space rental in the central region of Singapore slipped by 0.6 per cent in the first quarter of 2019 from the previous three months, figures from the Urban Redevelopment Authority (URA) showed on Friday. The drop was in contrast with the increase of 0.5 per cent in the fourth quarter of 2018. This was the first quarter-on-quarter decline in office rents since the second quarter of 2017. The...
Perennial Real Estate Holdings (Perennial) and its consortium of investors, including Singapore Press Holdings (SPH), are selling their stakes in Chinatown Point Mall for S$520 million in total, the listed companies announced on Monday morning. This includes the divestment of their entire interests in the retail mall, and four strata office units in Chinatown Point, an integrated development located in...
SingHaiyi Group and its joint venture (JV) partners - Suntec Reit and Haiyi Holdings - have secured UBS Singapore as its anchor office tenant for their commercial development at 9 Penang Road. Formerly known as Park Mall, the property is undergoing redevelopment which is on track to be completed in the fourth quarter this year, the mainboard-listed developer said on Wednesday. UBS Singapore plans to...
The Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, under a deal last Friday involving firms linked to tycoon Wee Cho Yaw. United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group. UIC is coughing up that sum...
More than 20 ageing office buildings in Singapore's CBD, currently housing some 6 to 6.5 million sq ft of office space, could be redeveloped to make way for state-of-the-art buildings under the CBD Incentive Scheme as part of the recently released draft Master Plan 2019. This is the number of buildings JLL Research estimates could satisfy the criteria set under the scheme, which offers higher plot ratios...
A freehold four-storey commercial building with attic at 118 Joo Chiat Road has just been launched for sale via an Expression of Interest (EOI) exercise by exclusive marketing agent, JLL. The 4-storey building enjoys excellent visibility with a wide 22-metre frontage. It sits on a 4,686 sf site and has a Gross Floor Area (GFA) of approximately 18,571 sq ft. Under the Master Plan 2014, the site is zoned...
A string of government bodies have leased office space at the revamped Funan in the North Bridge Road/Hill Street location. These include the Department of Statistics (DOS) , organ of state Attorney-General's Chambers (AGC) and the Smart Nation and Digital Government Office (SNDGO), which are leasing a total of about 8,590 sq m (or 92,462 sq ft) of net lettable office space in the South Tower office...
Frasers Property said on Thursday that it "has been in discussions with certain parties who have expressed interest” in its Frasers Tower office property, located at 182 Cecil Street. It said that there is no certainty that any transaction would result from such discussions, according to a bourse filing in response to Bloomberg queries. Frasers Property also added that it continually reviews...
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