Compass Point Shopping Centre is up for sale by public tender. Sengkang Mall Ltd, the owner of the mall, revealed that the proceeds from the sale will go towards a full redemption of its outstanding bonds totalling $335 million due in November 2012. The $201 million secured fixed rate senior bonds and $134 million secured fixed rate junior bonds are secured against Compass Point Shopping Centre. There...
Office / Retail Space
A new 500-room hotel with six floors of retail space as well as office space will open in Orchard Road in the second half of 2013. Called orchardgateway, the development will straddle the sites formerly occupied by Hotel Phoenix, Specialists Centre and Orchard Emerald. The two towers will be linked by a glass tubular overhead bridge as well as an underpass across Orchard Road. These plans were unveiled...
Oxley Tower set to rise from the heart of Robinson Road, Singapore’s Central Business District (CBD). The flexibility of the modular office units suit small and medium businesses perfectly as business owned may choose an office layout that best suits their needs. Coupled with a great balance of work, play and living facilities and amenities, it is the right choice for the future of any business. The...
EON Shenton rises at the coveted site of 70 Shenton Way, illuminating the Tanjong Pagar waterfront with its majestic grandeur. Here in the Central Business District, each and every angle gives rise to international recognition and promises impressive city and sea views that extend towards the waterfront bungalows of Sentosa. Interweaving both residential and commercial spaces seamlessly, it is the epitome...
A total of 66 strata-titled office units in Burlington Square have been put up for sale by expression of interest by property consultant, Colliers International. In a statement, Colliers said buyers are to submit their offer by noon on April 18, 2012. Burlington Square is a mixed development located at Bencoolen Street and it sits on a 99-year leasehold site with effect from June 1996. Colliers said the...
Shenton House, located in the heart of the central business district in Singapore, has been put up for collective sale. In a statement, its sole marketing agent DTZ said the site which is situated at Shenton Way could fetch S$530 million. This translates to S$1,720 psf per plot ratio based on the allowable approved gross floor area of nearly 427,500 square feet. The leasehold property sits on a land...
Three new tenants are taking up space at the Tower 3 of Marina Bay Financial Centre (MBFC). According to a news release, the three are mining group Rio Tinto, Fitness First and The Regus Group. They will collectively occupy a total of 75,000 square feet of the 46-storey tower. Mining giant Rio Tinto will occupy one-and-a-half floors totalling 46,000 square feet when it moves its Singapore staff to MBFC...
Over the next five years, the cost of occupying a workstation in Singapore's business district will be among the slowest to grow globally, according to property services firm, DTZ. Driven by downward pressure from negative rental growth in 2012 and 2013, Singapore joins Bangkok and Kuala Lumpur as locations that will see the lowest growth in office occupancy costs. Factors that contribute to this...
A billion-dollar office block is being erected at the site of Market Street Car Park in Singapore's financial district. As the market for prime-grade office space is softening, property analysts are wary that the developers may not achieve the rentals they are seeking. Property group CapitaLand, together with CapitaCommercial Trust (CCT) and Mitsubishi Estate Asia (MEA), will jointly develop the former...
More than a decade's supply of retail space is under construction in Singapore. This is putting pressure on retailers in existing malls and forcing their owners to refurbish as the competition heats up. Construction is well underway at shopping malls in suburban Jurong. The two malls there and another in Punggol will house one million square feet of commercial space. Nationwide, 3.6 million square feet...