Tekka Place, a redevelopment of the former The Verge shopping mall in Little India, is set to open in late 2019. The integrated mall is developed by Singapore-listed construction and property development company, Lum Chang Holdings, and a fund managed by LaSalle Investment Management Asia. The new development will comprise a 10-storey main block and a seven-storey annex block with rooftop deck....
Singapore’s office market is in the early stages of a recovery as tapering office supply and strong pre-commitment levels have caused the office vacancy rate to decline, offering landlords higher bargaining power to increase rents. “Office rent is expected to increase by 20 to 25 per cent between 2018 and 2020, of which 12 to 16 per cent is expected in 2018,” said Ms Regina Lim, head of capital...
Three plots of prime conservation shophouses located in Little India and Chinatown conservation areas are being offered for sale by expression of interest. The plot in Little India is a block of four adjoining shophouses, while the other plots are two shophouses in Chinatown. Located within Little India along Jalan Besar, the 999-year leasehold block of four shophouses are located directly opposite...
The recent property cooling measures in Singapore has once again diverted the spotlight from the private residential market to the shophouse market. Shophouse clusters can be classified into two main submarkets. Those in the central business district (CBD) are in areas such as Chinatown, Tanjong Pagar, Upper Circular Road and Boat Quay, while the rest are farther out in places like Kampong Glam, Little...
Robinson 77 is on the market for S$725 million, less than two years after a CLSA fund bought the property for S$530.8 million and just over a decade after another CLSA investment vehicle bought and resold the building within a ten-month period. If the deal materialises by year-end at the expected price of more than S$725 million (or S$2,357 psf on net lettable area), this would most likely be the...
A "rare strata office portfolio" in GB Building at Tanjong Pagar area has been launched for sale via an expression of interest (EOI) exercise, CBRE announced on Wednesday. The portfolio comprises a podium block and four office floors in a 26-storey commercial building located at the junction of McCallum Street and Cecil Street. GB Building is situated close to Amoy Street Food Centre and within...
A property under construction at 21/23 Mohamed Sultan Road in prime District 9, consisting of an eight-storey residential block and adjoining commercial building, has been put up for sale by tender by a privately held investment holding company (owner). The indicative price is about S$30 million, said its sole marketing agent, SRI (Singapore Realtors Inc). Tony Koe, SRI managing director said that...
Woods Square is the first office space for sale in Woodlands Regional Centre (Singapore’s Northern Gateway), which is being further rejuvenated and developed under the URA’s Master Plan 2014. It is an integrated office development with retail, F&B, and a childcare centre. It will have direct connectivity to the neighbouring Causeway Point mall and Woodlands MRT Station. Future Singapore-JB Rapid...
A increased supply of retail space will pose a bigger risk to Singapore's retail Reits than online shopping over the next 12 to 18 months. This is according to a sector report released by Moody's Investors Service on Tuesday. Nevertheless, analysts are maintaining their credit profiles on rated Reits (real estate investment trusts) such as CapitaLand Mall Trust (CMT) which is rated "A2 stable", and...
Epic Land has executed a sale and purchase agreement (SPA) to sell six of its wholly-owned subsidiaries, which hold seven strata office units in Prudential Tower, to an unrelated third party. The sale price will be determined based on the net asset value of the sale companies as at the completion date and will take into consideration the value of the properties, which is about S$130.07 million. The...
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