Office Space

71 Robinson Road quietly put on the market

Stealth marketing is going on at 71 Robinson Road, which was last transacted in April 2008 at a then-record price of S$3,125 per square foot. The Business Times understands that an expression-of-interest exercise to find a buyer for the 15-storey office block began without publicity in April, with the appointed marketing agents, CBRE and JLL, approaching a small pool of potential buyers. Submissions...

Funan to reopen on Jun 28 with new stores, facilities

After a three-year redevelopment, Funan is set to reopen its doors to shoppers on Jun 28, developer CapitaLand announced in a press release on Monday (Jun 3). More than 180 brands, including new-to-market brands, new concept stores and flagships, will feature at Funan. Among the mall’s new tenants is tech company Dyson, whose first standalone store in Singapore will be dedicated to its Supersonic...

Three floors at The Octagon up for sale with total S$43m indicative price

Three floors at The Octagon, a 25-storey freehold office building on 105 Cecil Street, have been launched for bulk sale by tender on Monday. The prime ground floor retail unit and two office floors have a total indicative price of S$43 million, which works out to S$3,500 psf for the retail floor and S$2,450 psf for the office floors, according to sole marketing agent Cushman & Wakefield. Located on...

Shenton Way, Tanjong Pagar among top locations for tech, media and telco tenants in Asia: Colliers

Singapore has been ranked among Asia’s top commercial real estate locations with attractive submarkets for technology, media and telecommunications (TMT) occupiers, according to a research report by property services firm Colliers International. In particular, the Shenton Way/Tanjong Pagar district was rated top in Singapore for TMT firms and flexible workspace operators due to its "excellent...

Chevron House sale to be completed by Q1 of 2020: Oxley

Oxley Holdings will complete asset enhancement initiative (AEI) works on Chevron House and expects to achieve final completion of the sale of the 32-storey Raffles Place commercial building no later than the first quarter of 2020. It will also divest the retail and banking units "as soon as practicable, taking into consideration market conditions" but will do so before the final completion, the...

Spaces opens new co-working locations in Somerset and Clarke Quay

Spaces, owned by flexible workspace provider IWG, has opened two new locations in Singapore, at TripleOne Somerset and Clarke Quay. This brings the number of locations it has to four, with plans to open an additional two more by year-end. The TripleOne Somerset branch has a blue-chip tenant list which includes luxury and lifestyle brands such as Gucci, Casio and Samsonite. It spans over 35,000 square...

JustCo expands to Taiwan with opening of 3 new co-working centres

JustCo has expanded to Taipei, securing three new co-working centres in the city. The centres are located at the Xinyi, Songshan and Zhongshan financial districts, and brings the company's portfolio to 32 centres across eight cities. The expansion follows JustCo's announcement in January that it is entering South Korea and Australia, with the opening of six co-working spaces in Melbourne, Sydney and...

Funan’s twin office blocks achieve 98% pre-leasing commitment

The twin office blocks of CapitaLand's revamped Funan integrated development has garnered 98 per cent pre-leasing commitment of its total office net lettable area (NLA) of 214,000 square feet (sq ft). The CapitaLand Mall Trust-owned (CMT) Funan secured the pre-leasing commitment of about 210,000 sq ft of its NLA when it got its Temporary Occupation Permit in April. Funan’s office tenants, which...

Oxley inks deal to sell Chevron House for S$1.03b

Property developer Oxley Holdings announced on Tuesday morning that it has signed a deal to sell Chevron House for up to S$1.025 billion, just 16 months after acquiring the prime office building in Raffles Place for S$660 million in December 2017. Oxley said that on April 29, it entered into a sale and purchase agreement with Golden Compass (BVI) for the latter to buy the entire interest in its wholly...

Singapore office rents decline 0.6% in Q1; retail rents fall 0.2%: URA

Office space rental in the central region of Singapore slipped by 0.6 per cent in the first quarter of 2019 from the previous three months, figures from the Urban Redevelopment Authority (URA) showed on Friday. The drop was in contrast with the increase of 0.5 per cent in the fourth quarter of 2018. This was the first quarter-on-quarter decline in office rents since the second quarter of 2017. The...

Compare listings

Compare