Office / Retail Space

Shophouses on Baghdad Street, Telok Ayer area up for sale

Six shophouses - three on Baghdad Street, and three in the Telok Ayer area - were put up for sale on Wednesday. With the sites for all six shophouses zoned for commercial use, purchases are open to both local and foreign buyers, with no additional buyer's stamp duty to be imposed. Three adjoining prime shophouses at 14, 16 and 18 Baghdad Street are up for sale as an entirety by expression of interest...

Maxwell House up for collective sale with S$295m reserve price

Commercial building Maxwell House has been launched for collective sale via a public tender, the appointed property consultant Cushman & Wakefield announced on Monday. Owners holding not less than 80 per cent by strata area and share value have agreed to put the property on the market at a reserve price of S$295 million. Located at 20 Maxwell Road, the 13-storey property is built on a trapezoidal...

Singapore’s CBD needs to redevelop to stay relevant in a post-COVID world

Forced to work from home over the past few months, companies and organisations are set to embrace remote work as a permanent management strategy for some functions within organisations. COVID-19 has demonstrated that for many companies, working from home can be almost as productive as being in the office, especially carrying out operational functions. It is now viewed as being a prudent way of...

Two office floors at Samsung Hub up for sale with S$104.88m indicative price

Property developer Sun Ventures has appointed CBRE as the exclusive marketing agent for the sale of two consecutive strata office floors - levels nine and 10 - at Samsung Hub by way of an expression of interest (EOI) exercise. The indicative price is S$104.88 million, which translates to about S$4,000 per square foot based on a total strata area of about 26,220 square feet (sq ft) or 13,110 sq ft for...

Two shophouses in CBD, three in Jalan Besar up for sale

Two shophouses located in the central business district (CBD) and three adjoining shophouses in Jalan Besar have been put up for sale by tender, marketing agents PropNex and Edmund Tie said separately on Tuesday. The three-story shophouse with an attic at 35 Kreta Ayer Road has a S$12 million guide price, or S$2,181 per square foot (psf) based on a total floor area of about 5,500 square feet (sq ft)....

Office rents flat in Q2, but vacancy rises to 12.1%

Net absorption of office space in Singapore shrank by a record 55,000 square metres of net lettable area in the second quarter of this year. Meanwhile, the island-wide office vacancy rate climbed to 12.1 per cent from 11 per cent at the end of Q1 2020, according to data from the Urban Redevelopment Authority. There is no denying that office demand has weakened amid the recession triggered by...

Singapore retail rents down 3.5% q-o-q in Q2 2020, vacancy rises to 9.6%: URA

Rentals of retail space in Singapore's central region shrank 3.5 per cent in the second quarter of 2020 over the previous three months, after easing 2.3 per cent in the first quarter of 2020. Data released by the Urban Redevelopment Authority (URA) on Friday also showed that prices of retail space in the central region fell 1.5 per cent in Q2 2020, although this was a smaller drop than the 3.1 per cent...

Three conservation shophouses in Chinatown up for sale at S$30.5m total guide price

Three shophouses at Ann Siang Road and Keong Saik Road is up for sale by expression of interest at a total guide price of S$30.5 million. The properties can be bought individually or as a portfolio. A trust company has appointed property consultancy Knight Frank Singapore to offer the portfolio for sale, Knight Frank said on Wednesday. All three shophouses are zoned "Commercial" under Master Plan...

Hoe Chiang Road site in CBD up for sale with S$715m guide price

A prime development site at 15 Hoe Chiang Road will be put up for sale with a guide price of S$715 million via expression of interest on Wednesday, exclusive marketing agent JLL said on Tuesday. The freehold 39,337 square foot (sq ft) site has been approved for hospitality use with a gross floor area (GFA) of about 248,483 sq ft, or an equivalent gross plot ratio (GPR) of above 6.31 based on written...

Trio of Geylang shophouses put on market with S$12m guide price

Three adjoining conservation shophouses at 223, 225 and 227 Geylang Road are up for sale collectively by expression of interest with a guide price of S$12 million, exclusive marketing agent CBRE said on Monday. The freehold, two-storey shophouses sit on a combined site of about 4,318 square feet (sq ft), with a total built-up area of about 6,754 sq ft. After factoring in an estimated development...

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