Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...
Global flexible workspace provider IWG has leased over 20,600 sq ft of space at Capitol Singapore, and will launch its premium co-working space brand No18 there. The co-working space will be the brand’s flagship facility in Asia, and its first location in the region, when it commences operations in September this year. The new space in Singapore will be on the second floor of Capitol Singapore and...
ARA Asset Management and British property group Chelsfield have jointly acquired Manulife Centre at 51 Bras Basah Road for around S$555.5 million. That's about S$2,305 per sq ft for the 11-storey commercial building with a net lettable area of over 241,000 sq ft. The vendors are City Developments (CDL) and Alpha Asia Macro Trends Fund II (AAMTF II), which is managed by Alpha Investment...
A 2.75 hectare white site in Woodlands Regional Centre has been released for sale by the Urban Redevelopment Authority (URA) under the reserve list of the second half 2018 Government Land Sales programme. The mixed-use site has a maximum permissible gross floor area (GFA) of 115,747 square metres (sq m), with at least 45,000 sq m of this to be set aside for office use. The remaining GFA can be for...
Edmund Tie & Company (ET&Co), as the sole marketing agent, is pleased to offer a prime ground floor strata commercial space at Coronation Shopping Plaza located at Bukit Timah Road for sale by tender. The prized commercial property enjoys excellent visibility at street level and high footfall of crowd from the surrounding affluent residential estates and prestigious schools. Tan Kah Kee and Botanic...
A prime commercial development site in Queenstown which once housed the iconic Queenstown Cinema at 250 Commonwealth Avenue was launched for sale by tender on Monday. The vacant plot has a land area of 3,001.2 square metres (32,305 square feet) and a 99-year lease commencing from Jan 1, 1975. It is located at the corner of Commonwealth Avenue and Margaret Drive, about 300 metres from Queenstown MRT...
Keppel Reit is selling a 20 per cent stake in Ocean Financial Centre to Allianz Real Estate for S$537.3 million, but will retain a majority 79.9-per cent interest in the property, its manager Keppel Reit Management said on Friday. This is the German insurer’s property investment arm’s first core office investment in Singapore. Independent valuer Cushman and Wakefield VHS had valued the property...
Faced with promised anchor tenants that did not show up, falling retail rents and low occupancy, owners at the mall where McDonald's Place at King Albert Park once stood have taken matters into their own hands. Current owner and tenant EagleWings Group will expand its footprint in the strata mall come December by opening a cinema called EagleWings Cinematics which boasts 153 seats, including a premium...
A row of apartments with commercial shops along Phoenix Road in Bukit Panjang will be put up for collective sale via public tender on Thursday for S$42 million, marking the first time that the owners are embarking on an en bloc sale. This translates to a land rate of S$617 per square foot per plot ratio (psf ppr), and S$566 psf ppr after factoring in the 7 per cent bonus balcony gross floor area. No...
Freehold commercial property Golden Wall Centre has been sold en bloc for S$276.2 million to City View Holdings, a wholly owned subsidiary of Worldwide Hotels, which owns and manages hotel chains such as Hotel 81. The amount was higher than the reserve price of S$260 million, which was little changed from what the strata unit owners wanted in their first attempt at a collective sale in 2016. At...
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