The government has been ramping up housing supply in recent years, particularly in the north-eastern part of Singapore and some analysts said there is room for more commercial developments to meet the needs of the growing population. According to the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB), a total of 44,868 residential units will be completed in Sengkang and...
Retail Space
Prime shopping space in the central business district (CBD) has shrunk. As at end of September 2012, retail space - excluding that for drinking, eating and entertainment - has fallen by about 3 per cent, according to data by the Urban Redevelopment Authority (URA) which was analysed by real estate firm Colliers International. Prints, an upmarket stationery retailer, has been looking to expand in the...
Prime area rent for shopping malls and retailers in Orchard Road inched down 0.28 per cent this quarter, compared to the previous quarter. In a report by Savills World Research, average monthly rent in prime areas in Orchard Road were S$35.1 per square foot in the fourth quarter. This is a slight drop from the S$35.2 per square foot in Q3. Analysts felt that this is due to adjustments in the market, as...
The Singapore Sports Hub has appointed SMRT Alpha to lease and operate 41,000 square metres of commercial retail space at the Singapore Sports Hub. This new joint venture is a partnership between subsidiaries of SMRT and NTUC FairPrice. The retail mall and waterfront area will feature a variety of indoor and alfresco food and beverage outlets. For shoppers, the mall will offer a wide range of stores and...
Renting retail space at a suburban mall these days may not be very much cheaper than renting one at Orchard Road, say analysts. Colliers International said the gap between prime retail rents in the two segments have narrowed from 17 per cent in 2009 to 12 per cent this year. Demand for retail space in suburban malls will continue to be strong, say analysts, citing the improving quality of suburban...
Strata commercial property such as shops and offices have been extremely popular in the primary market this year and are expected to sustain buyer interest, even in the sub-sale market, as attention is increasingly diverted away from residential and industrial segments. Since the introduction of the seller's stamp duty for private residential purchases in January last year, investors have flocked into...
Riding on the strata retail property boom, Griffin Real Estate Investment Holdings, a wholly-owned subsidiary of education group ERC Holdings, is launching units for sale at Bugis Cube this Saturday. Up to 91 strata units will be available at Bugis Cube, a six-storey, 999-year leasehold building at North Bridge Road. It is currently undergoing a multi-million-dollar retrofitting that is expected to be...
Singapore's retail rents remained resilient in Q2 2012, supported by a high employment rate and tourist arrivals. According to property consultancy DTZ, the average rents of prime retail space in Orchard/Scotts Road rose marginally by 0.1 per cent quarter-on-quarter to S$30.33 per sq ft per month. Meanwhile, average rents in suburban areas increased 0.2 per cent to S$28.35 per sq ft per month. However,...
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...
The proliferation of mixed developments in suburban areas in recent years has pushed up sales for shops substantially, with demand for strata-titled retail units experiencing strong growth. More than 600 shop units were sold last year, more than double the 300 units sold in 2009. At the Promenade @ pelikat in the Upper Serangoon area, comprising 270 retail units and 164 residential units, shop prices...