Retail Space

URA offers sweeteners to Orchard OG, Midpoint and Faber House to spur Orchard makeover

The Urban Redevelopment Authority (URA) is offering the owners of Midpoint Orchard, Orchard OG and Faber House sweeteners to spur them to redevelop as part of Singapore’s plan to rejuvenate its most famous shopping belt. Observers said that this could be a way to negotiate the tricky situation surrounding Midpoint Orchard – a strata-titled building which, The Straits Times understands, has about 60...

Siglap Shopping Centre to go on collective sale for S$120 million

Siglap Shopping Centre will be put up for collective sale by public tender on Tuesday (Oct 27), with the reserve price for the freehold mixed-use site on East Coast Road set at S$120 million, marketing agent OrangeTee Advisory said on Monday. Completed in around 1980, the three-storey development at 883 to 903A East Coast Road is made up of eight residential units and eight commercial units sitting on...

Shophouses on Baghdad Street, Telok Ayer area up for sale

Six shophouses - three on Baghdad Street, and three in the Telok Ayer area - were put up for sale on Wednesday. With the sites for all six shophouses zoned for commercial use, purchases are open to both local and foreign buyers, with no additional buyer's stamp duty to be imposed. Three adjoining prime shophouses at 14, 16 and 18 Baghdad Street are up for sale as an entirety by expression of interest...

Two shophouses in CBD, three in Jalan Besar up for sale

Two shophouses located in the central business district (CBD) and three adjoining shophouses in Jalan Besar have been put up for sale by tender, marketing agents PropNex and Edmund Tie said separately on Tuesday. The three-story shophouse with an attic at 35 Kreta Ayer Road has a S$12 million guide price, or S$2,181 per square foot (psf) based on a total floor area of about 5,500 square feet (sq ft)....

Singapore retail rents down 3.5% q-o-q in Q2 2020, vacancy rises to 9.6%: URA

Rentals of retail space in Singapore's central region shrank 3.5 per cent in the second quarter of 2020 over the previous three months, after easing 2.3 per cent in the first quarter of 2020. Data released by the Urban Redevelopment Authority (URA) on Friday also showed that prices of retail space in the central region fell 1.5 per cent in Q2 2020, although this was a smaller drop than the 3.1 per cent...

Eleven shops in Sim Lim Square launched for sale at S$21m

A portfolio of 11 shops at Sim Lim Square is up for sale again via expression of interest (EOI) with a guide price of S$21 million, exclusive marketing agent Knight Frank Singapore said on Thursday. The indicative price works out to about S$4,134 per square foot (psf). The shops are central podium facing units on the fifth floor of Sim Lim Square, a complex catered for electronics and IT...

Three conservation shophouses in Chinatown up for sale at S$30.5m total guide price

Three shophouses at Ann Siang Road and Keong Saik Road is up for sale by expression of interest at a total guide price of S$30.5 million. The properties can be bought individually or as a portfolio. A trust company has appointed property consultancy Knight Frank Singapore to offer the portfolio for sale, Knight Frank said on Wednesday. All three shophouses are zoned "Commercial" under Master Plan...

Trio of Geylang shophouses put on market with S$12m guide price

Three adjoining conservation shophouses at 223, 225 and 227 Geylang Road are up for sale collectively by expression of interest with a guide price of S$12 million, exclusive marketing agent CBRE said on Monday. The freehold, two-storey shophouses sit on a combined site of about 4,318 square feet (sq ft), with a total built-up area of about 6,754 sq ft. After factoring in an estimated development...

Balestier Road mixed-use building up for sale with S$22m guide price

A freehold four-storey commercial and residential building at 320 Balestier Road has been launched for sale via expression of interest with a guide price of S$22 million, Showsuite Consultancy announced on Monday. The guide price translates to an estimated blended rate of S$1,200 per square feet (psf) based on the existing gross floor area (GFA), said Karamjit Singh, chief executive officer of...

Retail rents expected to drop by 4 to 14% in 2020, but new tenants not likely to rush in

With the retail sector one of the hardest hit by the Covid-19 pandemic, property analysts are expecting retail rents to decline by between 4 and 14 per cent for the whole of 2020. Despite the drop in rents, they do not expect retailers to take up vacant lots, especially in prime shopping malls in the central region. Analysts expect rents in prime malls in areas such as Orchard Road to drop by between...

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