Retail Space

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...

High Street Centre up for en bloc with S$800m reserve price

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...

101 Beach Road up for en bloc sale with S$90m reserve price

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 Middle Road launched for en bloc sale

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...

IKEA’s first small-store concept in Southeast Asia to open at Jem in 2021

Home furnishing store IKEA announced on Monday (May 11) that it’s opening a new small-store concept – the first of its kind in Southeast Asia – at Jem in 2021. This will make it the third IKEA store in Singapore, with the other two at Tampines and Alexandra. At 6,500 sq m, the new small-store concept will span three floors in the shopping mall. A spokesperson from Landlease, the mall's...

Three commercial shophouses in Bugis, CBD up for sale

Three shophouses in Bugis and the central business district have been put on the market, sole marketing agent PropNex announced on Wednesday. On 534 North Bridge Road is a corner shophouse with a guide price starting from S$10 million, while the 60 South Bridge Road property's guide price is at least S$7 million. Both have been launched for sale by tender. Meanwhile, the shophouse on 96 Amoy Street...

3 commercial shophouses, terrace house in Districts 1 & 2 up for sale at S$38.4m

A portfolio of three conservation shophouses and a terrace house located within Districts 1 & 2 is now up for sale in the market, at a guide price of about S$38.4 million, Knight Frank Singapore said in a media statement on Monday. The properties can be purchased either individually or as a portfolio. The commercial shophouses are located within District 1 at Ann Siang Road, and District 2 at Keong...

Joo Chiat conservation shophouse put on market with S$4.5m guide price

A conservation shophouse at 452 Joo Chiat Road is up for sale in the market with an indicative price of S$4.5 million, marketing agent CBRE said on Tuesday. The guide price translates to about S$2,140 per square foot on the existing built-up area of 2,100 square feet (sq ft). The two-storey shophouse sits on a freehold site of about 1,100 sq ft. Located in the Joo Chiat/East Coast enclave, the...

Singapore Shopping Centre back on en bloc market with S$255m price tag

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...

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