Renting prime office spaces in the Central Business District (CBD) has been getting cheaper since the third quarter of 2011. However, landlords need not fret any further. Experts said the Grade A office market will soon reach its bottom by the end of 2012. Without new office space in the CBD being injected in the second quarter of 2012, landlords have much to cheer. Analysts said this will stem the...
Office Space
Bugis Cube is located at North Bridge Road, within a 10 minute walk to 5 MRT stations. It is across Bugis Junction Mall and Hotel Intercontinental. With ERC Institute (ERCI) expected to use a level for academic purposes, this education mall will be focused on the young. Potential tenants will include F&B and electronics, creating a very lively concept. Location: 470 North Bridge Road Tenure: 999...
Singapore's office vacancy rates are expected to rise further across all grades and micro markets, with a peak expected in 2013, according to property consultant CB Richard Ellis (CBRE). Island-wide vacancy in Singapore increased to 7.3 per cent in Q1 2012. Vacant stock island-wide totalled 3.8 million sf. In Core CBD, the vacancy rate grew to 9.30 per cent from 8.80 per cent in Q4 2011. Going forward,...
Rents of grade A office space has increased in 13 markets in Asia Pacific in the first quarter of 2012, according to Jones Lang LaSalle in its just-released Q1 Asia Pacific Office Index Report. The Index monitors grade A net effective rents in 27 key markets in Asia Pacific. It also highlighted that rents of grade A office space remained static in 3 markets and declined in 11 markets. Aggregate rental...
Vacancy rates of Grade A office buildings in the central business district (CBD) declined at a slower pace to 6.5 per cent in the first quarter this year. This compared to the 6.8 per cent fall in the fourth quarter of last year. According to property consultancy Savills Research in its latest report on the office sector on Friday, the leasing market has been dominated by enquires from small- to...
The remaking of Paya Lebar Central is taking shape with the ground breaking of a new 13-storey commercial project, on Tuesday. Paya Lebar Central has been earmarked by the government for development as a commercial hub, under its 2008 Master Plan. At the ground breaking ceremony of Paya Lebar Square, its developer said 75 per cent of the office space has been committed. The S$1 billion development will...
Hong Kong and Singapore commercial property rents and prices will drop by more than 15 per cent this year as financial services companies keep a lid on growth or shrink, according to Jones Lang LaSalle. Hong Kong rents will drop by 15 per cent this year and prices by 16 per cent, while Singapore rents will fall 11 per cent and values 20 per cent, Mr Alastair Hughes, Asia-Pacific chief executive officer of...
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...