Office Space

Mixed-use tower High Street Centre at 1 North Bridge Road will be available from Tuesday for collective sale via public tender at a reserve price of S$800 million, with approval received for commercial and hotel use. Owners holding not less than 80 per cent of strata area and share value of the commercial and residential property have agreed to put it on the market with that price tag, the appointed...

A mixed-use development at 101 Beach Road will be up for collective sale at a reserve price of S$90 million, real estate services firm Cushman & Wakefield said in a press statement on Tuesday. The property will be officially launched for sale by tender on Wednesday. 101 Beach Road sits on a corner land plot of 698.9 square metres (7,523 square feet) at the junction of Beach Road and Liang Seah...

GSM Building at 141 Middle Road has been launched for sale by tender, after the minimum consent level required for the site to be launched for an en bloc sale was achieved, according to marketing agent Mount Everest Properties. The upgrading premium is about S$18.6 million, on top of the asking price in the region of S$98 million, Mount Everest Properties said. The building has a land area of about...

Chinese e-commerce giant Alibaba Group has agreed to buy a 50 per cent stake in AXA Tower in a deal that values the property at S$1.68 billion, a boost of confidence to the Singapore market amid a downturn caused by the COVID-19 coronavirus pandemic. A share purchase agreement was made between a consortium of investors led by Perennial Real Estate Holdings to sell the stake to the Singapore arm of...

The 11th floor of Samsung Hub has transacted for nearly S$50 million or S$3,800 per square foot (psf) on a strata area of about 13,100 sq ft. This is the highest psf price achieved for an office floor in the 999-year leasehold building in the Raffles Place financial district, exceeding the previous high of S$3,550 psf set in 2018 for the 20th floor. In the latest deal, a South Korean high net worth...

IOB Building, a six-storey office block with two levels of basement car park at 64 Cecil Street, has been put up for sale via tender at an overall guide price of S$217.7 million, said exclusive marketing agent Knight Frank on Monday. The redevelopment property at the junction of Cecil Street and Cross Street in the central business district (CBD) has a tenure of 99 years from May 1983 and a site area of...

Singapore Shopping Centre is back on the collective-sale market, half a year after its previous attempt in July 2019, with an unchanged reserve price of S$255 million. This time, though, the seven-storey retail and office building in Clemenceau Avenue has been given provisional approval to re-zone for hotel use, its marketing agent said on Wednesday. The site, which occupies a 2,449.8 square metre...

Three strata office units at Fu Lu Shou Complex on Rochor Road are up for sale at a guide price of S$7.2 million or S$1,400 per square foot (psf), marketing agent CBRE said on Tuesday. The units, which have a 99-year leasehold tenure starting 1980, may be sold individually or as a bundle. Located next to the lift lobby on level five of Fu Lu Shou Complex, the portfolio has a combined strata floor...

Rentals of office space in the central region of Singapore eased 3.2 per cent in the fourth quarter of 2019 over the previous three months - a bigger drop compared with the 0.6 per cent fall in the third quarter of 2019, figures released by the Urban Redevelopment Authority (URA) showed on Thursday. For the whole of 2019, the rental index slipped 3.1 per cent - contrasting with the increase of 7.4 per...

Last year was a controversial one for WeWork, but it is not planning to scale back its plans in Singapore, said the co-working space operator's Southeast Asia managing director Turochas Fuad in an interview with CNA on Friday (Jan 10). Once valued at almost US$50 billion, WeWork's growth hit a roadblock in 2019 after it filed its prospectus for an IPO in August. Advertisement Potential investors...