Borders has said that a dispute with its landlord, Wheelock Properties, has caused its bookstore at Wheelock Place to be closed since Tuesday. Borders said it was "extremely disappointed" with its landlord of 13 years, but did not elaborate. It also reassured the public that the store's closure is not linked in any way to the shutdown of over 200 Borders stores in Australia and the US when its parent...
Rental
The lower office rents in Singapore could be an attraction to some businesses in Hong Kong to relocate here. This is according to a report issued on Monday by property consultant Jones Lang LaSalle (JLL). Chua Yang Liang, Head of Research for Singapore and Southeast Asia at JLL believes that there could be some spill over effects from the Hong Kong office market which is experiencing rapidly escalating...
Singapore has maintained its position as the third most expensive office location in the Asia Pacific region for the eighth consecutive quarter since the office market bottomed in third quarter 2009. According to Colliers International Research's latest Asia Pacific Office Market Overview report, annual gross rents for Grade A offices in the Central Business District (CBD) increased 9 per cent to S$105.31...
A 41-year-old man, believed to be involved in at least five rental scams has surrendered himself to the police and arrested. On Tuesday, the police had appealed for information on the man, identified as Dennis Ang Beng Kiat to assist with investigations. In all these cases, the victims responded to flat rental advertisements placed in the newspapers. The suspect, who was the owner of the flat, arranged...
Grade A office properties in the Marina Bay and Raffles Place vicinity have been commanding respectable take-up rates. Overseas Union Enterprise's OUE Bayfront, which obtained its temporary occupancy permit (TOP) in January, has committed leases of 77 per cent of its 500,000 square feet of net lettable area. OUE said that its latest tenants include international law firm Hogan Lovells International and...
Police are looking for a man whom they believe can help them with their investigations into a series of flat rental scams reported at Blk 123 Rivervale Drive. The man was identified as Dennis Ang Beng Kiat who's in his 40s. He is slim-built and about 1.7 metres tall. Police said at least three cases have been reported since November last year. The victims had responded to flat rental advertisements...
With Singaporeans increasingly turning to renting out their apartments for extra income, more disputes are flaring up between landlords and tenants, according to lawyers and property agents. And it is not only the landlords who are giving their tenants headaches. Anecdotally, complaints of landlords being held ransom by tenants in arrears and refusing to move out are increasing. Property agent G Rajan...
More small and medium enterprises (SME) are taking steps to own their business premises. Experts said the upturn in Singapore's economy encouraged companies to increase their capacity. And SMEs are also opting to buy office, warehouse and factory space to save on rental costs which analysts said could rise by 15 to 18 per cent this year. Packaging solutions provider Greenpac believes consolidating its...
Property consultant Colliers International has released research reports covering industrial, investment sales, office and the retail space in Singapore for the second quarter of the year. In the office space sector, Colliers said competition for tenants kept the rental growth of Grade A office space within the single-digit territory. In the Raffles Place and New Downtown micro-market, monthly gross...
Rental growth for hi-tech industrial space in Singapore, which includes business parks, rose at a faster pace in the second quarter than in the first quarter of this year, according to DTZ Research. The real estate services firm said the average monthly gross rent for private high-tech space increased 4.5 per cent quarter-on-quarter to S$3.45 per square foot (psf) per month in the April-June quarter,...