Retail Space

Perennial Real Estate Holdings (Perennial) and its consortium of investors, including Singapore Press Holdings (SPH), are selling their stakes in Chinatown Point Mall for S$520 million in total, the listed companies announced on Monday morning. This includes the divestment of their entire interests in the retail mall, and four strata office units in Chinatown Point, an integrated development located in...

The Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, under a deal last Friday involving firms linked to tycoon Wee Cho Yaw. United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group. UIC is coughing up that sum...

Sim Lim Square will be put up for collective sale, after securing the requisite agreement of at least 80 per cent of its owners. The mall, located on Rochor Canal Road, will go on sale at S$1.3 billion, its sales committee head Vikas Gupta told TODAY on Wednesday (March 20) evening. He disclosed that 80.82 per cent of owners by share value and 81.43 per cent of owners by strata area voted for the...

Liang Court mall - famous at its peak as a Japanese expat haunt and for the Daimaru department store and supermarket - is expected to be sold to new owners for S$400 million. According to The Business Times, a put-and-call option agreement has been entered into between the owner, an entity linked to PGIM Real Estate, and CapitaLand and City Developments Ltd (CDL). CapitaLand's listed unit Ascott...

US-based property fund manager AEW has sold Rivervale Mall in Sengkang for S$230 million, BT understands. The buyer is SC Capital Partners, a Singapore-based private equity real estate firm chaired by Suchad Chiaranussati, who is married to a niece of property and hotel tycoon Kwek Leng Beng. The price works out to S$2,833 per square foot based on Rivervale Mall's net lettable area (NLA) of 81,193 sq...

A pair of freehold two-storey conservation shophouses at 69 and 71 Kampong Bahru Road is up for sale. The shophouses, which come with attics, occupy a land area of 2,343 square feet and have an estimated gross floor area of 5,947 sq ft. It is zoned "commercial" under the Urban Redevelopment Authority's 2014 Master Plan, which means foreigners are eligible to buy the property. In addition, there is...

Rents for retail space in the central region of Singapore rose by 1.2 per cent in the fourth quarter of 2018 over the previous three months - contrasting with the drop of 1.2 per cent in the third quarter, according to data released by the Urban Redevelopment Authority (URA) on Friday. For the whole of 2018, retail rents weakened by 1.0 per cent, after sliding 4.7 per cent in 2017. URA's price index...

Edmund Tie & Company (ET&Co), as the sole marketing agent, is pleased to offer a prime ground floor strata commercial space at Coronation Shopping Plaza located at Bukit Timah Road for sale by tender. The prized commercial property enjoys excellent visibility at street level and high footfall of crowd from the surrounding affluent residential estates and prestigious schools. Tan Kah Kee and Botanic...

Faced with promised anchor tenants that did not show up, falling retail rents and low occupancy, owners at the mall where McDonald's Place at King Albert Park once stood have taken matters into their own hands. Current owner and tenant EagleWings Group will expand its footprint in the strata mall come December by opening a cinema called EagleWings Cinematics which boasts 153 seats, including a premium...

A row of apartments with commercial shops along Phoenix Road in Bukit Panjang will be put up for collective sale via public tender on Thursday for S$42 million, marking the first time that the owners are embarking on an en bloc sale. This translates to a land rate of S$617 per square foot per plot ratio (psf ppr), and S$566 psf ppr after factoring in the 7 per cent bonus balcony gross floor area. No...