Merchant Square, an office building located at the fringe of the Central Business District (CBD), is up for sale by Expression of Interest. The building, completed in 1996, comprises a four-storey office tower and two blocks of shophouses. It is situated close to the junction of Merchant Road and Clemenceau Avenue, with a tenure of 99 years leasehold from 1993. CB Richard Ellis, which is the sole...
Office / Retail Space
The first phase of Marina Bay Financial Centre is now 67 per cent pre-leased ahead of its completion in the second quarter of next year. This phase includes Tower Two and the fully pre-leased Tower One. The latest tenant at the location is Servcorp, a serviced and virtual office provider. In a statement, Raffles Quay Asset management said Servcorp's seven-year lease will start next year. Servcorp will...
Fashion retailer FJ Benjamin said it will open three new outlets at the upcoming Marina Bay Sands integrated resort. It plans to bring US brand Guess, lingerie giant La Senza and the company's own fashion label Raoul to the new Marina Bay Sands Shoppes mall when it opens early next year. FJ Benjamin said it is also considering opening stores for several other brands within its portfolio of apparel...
Marina Bay Sands has leased about 75 per cent of its retail space, or 225 units of the 300 stores at the Marina Bay Sands Shoppes. The integrated resort provides over 800,000 square feet of retail and restaurant space. Sands said about half of the total retail space will be ready by the first phase of its opening in early 2010. And 80 per cent of the stores that are due to open has already been...
Retail landlords are turning to more creative ways to charge rent amid the current downturn and market watchers are also expecting changes in rental structures. This is due to factors such as the increased presence of institutional landlords. The economic slowdown is also expected to lead to falls in retail rentals by up to 20 per cent by the end of the year. An expected glut in retail space, especially...
The slide in office rental rates across the region has slowed, and analysts said this is a good sign the market has stabilised. A year ago, office space rental in Singapore's central business district could come up to as much as S$19 per square foot a month. Today, that rate has fallen by almost half. Singapore, which is home to Asian headquarters of a number of foreign companies, has seen rents fall...
Office rents in Singapore fell 26.2 per cent in the second quarter, according to latest figures from real estate consultancy firm Colliers International. This was the steepest decline quarter-on-quarter among Asia-Pacific cities. Singapore is the fourth most expensive office location after Tokyo, Hong Kong and Ho Chi Minh City for Grade A offices – one spot down from the first quarter this...
A new S$1 million training centre for Singapore's retail industry has opened in the heart of the Orchard Road shopping belt. The 313@Somerset Training and Career Centre is run by Australian property firm Lend Lease with SPRING Singapore and the Workforce Development Council. The new Training and Career Centre is located across the road from the 313@Somerset retail mall and it aims to raise service...
Retail therapy takes an artistic twist along Orchard Road. Developers have commissioned multi-million dollar artworks to be put up at Singapore's newest mall. A two-tonne nutmeg greets shoppers at the entrance to ION Orchard. The sculpture by Singapore artist Kumari is a tribute to Orchard Road's history, when it was once a nutmeg plantation. "Urban People" is the name of six sculptures by a Swiss...
Mainboard-listed retailer Isetan (Singapore) will open its sixth Isetan department store here by end-2010 in the upcoming Serangoon mall called nex. To cost a reported $1.3 billion, the store is said to be Isetan's first in 15 years in Singapore. It will occupy a total retail area of about 53,000 square feet over three floors, Isetan said yesterday. Source : Today – 24 Jul...