Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio. The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space. Consultants Colliers International said the top bid is in line with price expectations for sites...
Industrial Space
Business parks are set to see occupancy rates go beyond 90 per cent by the end of June this year to hit a new peak, according to property consultants CB Richard Ellis (CBRE). At the end of March, the average occupancy rate for business parks stood at about 88 per cent. CBRE said office space shortage and persistent rent increases are driving office tenants towards industrial properties. This has pushed...
Niche property developer Soilbuild Group has won the tender to build, own and operate a stack-up factory in the Tuas area. The award for the 5-hectare site at Tanjong Kling Industrial Estate was given out by JTC Corporation. This is the first time that a stack-up factory development has been awarded to a private developer. JTC said Soilbuild clinched the contract because its concept included enhanced...
JTC has achieved a record occupancy level for its ready-built facilities in the first quarter of 2008. Net allocation was 38,400 square metres, six-fold higher than the same period last year. In its quarterly report, JTC said this helped to boost the occupancy level for ready-built facilities by 1.3 percentage points to 93.9 percent. Termination level, however, has gone up as well - to 51,100 square...
The sub-prime crisis has intensified the necessary corrections in the property market. But according to Henderson Global Investors, there's an upside to it. The asset management firm, which has some $117 billion worth of assets under its wing, is positive on the medium term outlook for the global property sector. The likelihood of a US recession and the current global credit crisis is hurting investor...
Mainboard-listed logistics company, CWT, has opened two new logistics hubs in Singapore, expanding its warehouse space by one million sq ft. The new facilities cost CWT more than S$80 million, but they are expected to help drive revenue up by some 10 percent. Most of the new space will be used to store chemicals, which will help boost CWT's position in the sector. Loi Pok Yen, Group CEO of CWT, said: "We...
The tender for an industrial site at Playfair Road has attracted strong bids. There were 12 bids for the 8,600 square metre site. The highest bid of S$33 million was submitted by Trio Link Development. It works out to about S$142 per square foot per plot ratio. According to property consultants CB Richard Ellis, this was the highest bid ever for a 60-year leasehold industrial site. The Playfair Road...
Demand for JTC's industrial space jumped to a record 880,000 square metres in 2007, thanks to a strong economy. Singapore's largest industrial landlord said take-up for its ready-built facilities reached nearly 215,000 square metres. This was about 20 per cent higher than the record set in 2005. A new high was also set for prepared industrial land with take-up at over 340 hectares. Occupancy for...