Retail Space

Freehold commercial property Golden Wall Centre has been sold en bloc for S$276.2 million to City View Holdings, a wholly owned subsidiary of Worldwide Hotels, which owns and manages hotel chains such as Hotel 81. The amount was higher than the reserve price of S$260 million, which was little changed from what the strata unit owners wanted in their first attempt at a collective sale in 2016. At...

GuocoLand Limited today announced the groundbreaking of Guoco Midtown, unveiling the name of the prime site that is set to rejuvenate the Beach Road district. It will provide a new epicentre for this side of Singapore’s Central Business District (CBD). Guoco Midtown is expected to be completed by the first half of 2022. Nestled within the City Hall office micromarket, Guoco Midtown will be the final...

Veteran property investor Stanley Quek is selling another conservation shophouse property. This time, an entity connected to him has offloaded three adjoining two-storey shophouses on Tras Street, for S$21.2 million. The property, which is part of the Tanjong Pagar Conservation Area, is being bought by an entity affiliated to Clifton Partners, a real estate investment firm owned by Singaporean Zain...

The appointed exclusive marketing agent - JLL, is calling offers for the purchase of two prime three-story conservation shophouses in Singapore’s historic Chinatown district. The two shophouses are a freehold and a 99-year leasehold property located respectively at 31 and 76 Pagoda Street. Both properties are zoned "commercial" and have been approved for use as food and beverage outlets. Foreigners...

A 999-year leasehold corner shophouse in Serangoon Gardens is up for sale with an indicative guide price of S$25 million. The two-storey non-conservation shophouse, located at 56 Serangoon Garden Way, occupies a land area of 2,122 square feet and total built up area of 3,482 square feet. According to marketing agent JLL, which is currently inviting offers through an expression of interest (EOI) exercise,...

Singapore’s latest mall library will open in VivoCity on 12 January 2019, promising book lovers here a new exciting venue with the latest features and services. The public library will offer conducive reading spaces for patrons of all ages set against a splendid view of Sentosa. To fit its location and help patrons locate it easily, the library will be named library@harbourfront. The library, which...

Entities connected to veteran property investor Stanley Quek are understood to be selling a pair of adjoining shophouses in Duxton Hill and a shophouse in Stanley Street in separate deals totaling S$37.3 million. The pair of shophouses at 40 and 41 Duxton Hill are changing hands at S$24.8 million. They are on two separate land lots, but the units are linked, forming a distinctive corner shophouse...

The Urban Redevelopment Authority's (URA) rental index of retail space in the central region of Singapore slipped 1.2 per cent in the third quarter of 2018 over the previous three months. This follows a 1.1 per cent quarter-on-quarter decline in the previous quarter. However, URA's price index of retail space in the central region rose 0.3 per cent quarter on quarter in Q3 after easing 1.3 per cent...

M+S Pte Ltd, the joint-venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdlings, has appointed JLL to advise it on the sale of the office, hotel and retail components of the Duo project along Beach Road, said sources. They told The Business Times that the combined asking price for the above components is about S$2 billion. The joint-venture company has sold almost all the 660...

Plans are being drawn up to transform Singapore's main shopping belt, Orchard Road, into something more than rows of boutiques and malls, Senior Minister of State for Trade and Industry Chee Hong Tat said on Wednesday (Oct 17). These plans could include turning Orchard Road into an innovation district, where start-ups and social entrepreneurs use the precinct as a "living lab" to test out ideas for new...