Office Space

Keppel Reit has sold Bugis Junction Towers to Village Prop Pte Ltd for S$547.5 million or S$2,200 per square foot, S$388 million more than the S$159.5 million the property was acquired for in 2006. The Business Times understands the main buyer is a fund managed by Angelo Gordon, a US-headquartered global alternative investment manager. Alongside the fund, Singapore-based property investment manager...

AN associated company of CapitaLand is buying the office space at the former GSH Plaza in Cecil Street from a fund led by Hongkong-listed Fullshare Holdings in a deal expected to exceed S$500 million. The building, now known as Plus, is at 20 Cecil Street, beside Republic Plaza. Sources told The Business Times the price works out to about S$2,320 per square foot, lower than what Nanjing-headquartered...

City Developments Limited (CDL) on Wednesday morning unveiled the revamped Republic Plaza, its flagship property in Raffles Place, following an extensive S$70 million asset enhancement initiative (AEI) which started in April 2018. Although the building had previously undergone several enhancements, this was its first major facelift since it was completed in 1996. At 280 metres tall, the 66-storey...

Coworking spaces now take up 3.7 million square feet (sq ft) in net lettable area (NLA) of Singapore's commercial space, tripling from 1.2 million sq ft in 2015 to become one of the top six occupier sectors, said Colliers International. The top occupier sector in the Singapore CBD (central business district) Grade A office space are financial services, followed by professional services, technology,...

Local e-commerce firm Shopee opened its new regional headquarters on Tuesday (Sep 3) as it leverages strong growth in Southeast Asia. The six-storey building in Kent Ridge, spanning 244,000 sq ft, is nearly six times larger than its previous office across the street. It can house up to 3,000 employees. Shopee has seen "tremendous" growth since it was founded four years ago, said Deputy Prime Minister...

Five strata lots for retail and office use spanning seven storeys at 30 Raffles Place have been launched for sale by joint marketing agents JLL and Cushman & Wakefield. The building, formerly known as Chevron House, is undergoing comprehensive asset enhancement initiative (AEI) works, after property developer Oxley Holdings agreed to sell it to Golden Compass, the investment vehicle of US-based real...

A COUPLE of commercial property deals were sealed recently. Along Cantonment Road, two floors of the 16-storey freehold Southpoint office building are being sold for S$78.4 million or S$2,444 per square foot based on the strata area of 32,076 sq ft. In the Katong area, a pair of freehold adjoining shophouses at the corner of East Coast and Joo Chiat roads, currently leased to German restaurant chain...

Fifteen strata offices at Peninsula Plaza have been put up for sale via tender with an indicative price of S$17.6 million, said exclusive marketing agent Cushman & Wakefield on Wednesday. That works out to S$2,255 per square foot (psf), with the offices also for sale individually. This is within the price range of recently transacted units at Peninsula Plaza which hit S$2,500 psf earlier in April...

Fund manager Arch Capital Management completed the acquisition of Anson House for S$210 million on Wednesday. The price works out to S$2,435 per square foot based on the 13-storey building's net lettable area (NLA) of 86,239 sq ft. This confirms a report in June in The Business Times Weekend, which had cited market watchers tipping Hong Kong based Arch Capital Management as the party that was doing...

Commerz Real has sold its 71 Robinson Road property to SV Robinson for S$655 million. SV Robinson is a real estate investment company which is a member the Sun Venture group of companies. The sale was done through its open-ended real estate fund hausInvest, Commerz Real said on Tuesday. Commerz Real was also advised on the sale by CBRE and JLL, with law firm Dentons providing legal consulting, and EY...