British and Malayan Trustees as the trustee of Frasers Commercial Trust (FCOT) has entered into an agreement for the sale of a commercial property at 55 Market Street, in Raffles Place for a sale consideration of S$216.8 million. Manager of the trust, Frasers Commercial Asset Management Ltd, said the transaction is expected to be completed by Aug 31, 2018. The sale consideration of S$216.8 million is...
A collection that includes seven freehold shophouses, 15 terrace houses, four walk-up apartments and three plots of state land at the intersection of St George’s Road and Serangoon Road has been launched for sale at a reserve price of $133.7 million. A short four-minute walk from Boon Keng MRT station, the properties have a total land area of 25,621 sq ft. Owners of the 29 units can expect to receive...
A row of four contiguous freehold conservation shophouses at No. 15, 17, 19 and 21 Tessensohn Road (the “Property”) has been launched for sale. Cushman & Wakefield, the appointed marketing agents for the site is expecting a good reception to the tender as the property can be partially developed into a mixed use retail/residential project in a charming heritage precinct dotted with conservation...
According to market sources, Allianz is understood to have entered into a lease at ASB Tower, the new development coming up on the former CPF Building site in Robinson Road, at a gross signing rental of around S$11.50 per square foot (psf) a month. The deal is said to reflect a gross effective rent of close to S$10 psf a month after taking into account the rent-free period and other...
Interest in commercial and industrial property could shoot up as investors look for alternative opportunities following the latest tough new cooling measures for residential real estate, say experts. Retail investors who can afford a higher capital outlay could turn to strata-titled offices and conserved shophouses that are zoned commercial, said Cushman & Wakefield's senior director of research...
Safra Mount Faber is to undergo a facelift by mid-2019, complete with new facilities such as a dedicated co-working space. The four-storey lifestyle club in Telok Blangah Way will begin enhancement works in late July. Several entertainment facilities and food outlets at the club will be closed from July 9 in preparation for the enhancement works. The new club will feature an industrial chic look,...
Wah Loon Engineering founder Alan Chong has recently snapped up one of the tallest conservation shophouses along Boat Quay for S$21.35 million. Spanning six levels, the shophouse has an estimated built-up area of 6,300 sq ft, according to information on the website of Clifton Partners, a real estate investment firm. The property is being sold by an affiliate of the company. Boasting views of the...
Homegrown insurance bigwigs Great Eastern and NTUC Income have leased office space at Paya Lebar Quarter (PLQ). According to Business Times, Great Eastern - a listed subsidiary of OCBC, has leased about 125,000 sq ft on four floors of the 13-storey Tower 3 in the project. This is the same tower where SMRT has leased 97,000 sq ft (three levels) and property consulting group CBRE, 31,000 sq ft (one...
Cushman & Wakefield and PropNex Realty have been appointed as the joint exclusive marketing agents for the sale of the House of Tan Yeok Nee at 101 Penang Road, Singapore (the “Property”) through an expression of interest exercise which will close on 12 July 2018, 3.00 pm. The Property is to be sold at an indicative minimum price of S$93 million. This translates to approximately S$ 1,590 per square...
Shophouse prices have appreciated significantly in the past year or so. What's fuelling interest in these prime conservation properties? A niche market often bypassed by real estate investors due to its specific guidelines on use, the prime conservation shophouse market in Singapore's city core has been buzzing with activity of late. Shophouses in the CBD and Chinatown (the old postal districts 1 and 2)...
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