TWO strata office floors located at AXA Tower at 8 Shenton Way is up for sale from S$2,550 per square foot. The office space belongs to Perennial Real Estate Holdings, while JLL is the marketing agent for the expression of interest exercise. With a total strata area of about 25,500 square feet, the offering spans two office floors at the development and comprises eight strata office units on the 21st...
Singapore Office
Singapore office space prices fell by 1.5 per cent in the second quarter. Rentals of office space also fell by 3.5 per cent in this quarter, compared to the 2.1 per cent dip in the first quarter of the year, URA figures showed. Meanwhile, prices for retail space fell by 3.1 per cent in the second quarter, following a 1.9 per cent dip in the previous quarter. Rentals of retail space also fell by 3.9 per...
Rents across both Grade A CBD office spaces and prime retail spots will likely continue to face pressure in the coming 12 months, says property consultancy Cushman & Wakefield in its Q2 Marketbeat reports. It forecasts declines across the board, except for prime suburban retail which has a stable 12-month outlook. On the retail front, the consultancy noted that there are increased food and beverage...
Singapore's Asia Square Tower 1 has set the record of being the largest single-asset and office transaction in the Asia-Pacific region with a sale value of US$2.45 billion (S$3.31 billion), according to real estate consultancy JLL. The 43-storey retail and office building was sold earlier this month by global investment management firm, BlackRock, to Qatar Investment Authority's sovereign wealth...
OCBC has put up for sale a 12-storey freehold office block at 110 Robinson Road, with an indicative price of S$45 million. The price translates to about S$3,162 per square foot based on the building's net lettable area (NLA) of 14,233 square feet. According to Cushman & Wakefield, which OCBC has appointed sole marketing agent for the sale of the property, the bank does not occupy any space in the...
M+S Pte Ltd, a joint venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdings, said on Tuesday it has "topped out" (meaning put the top of the building on) Marina One in Singapore's Marina Bay area. Indoor furnishings are not yet completed, however, and the development remains on track for completion in 2017. It added that it has secured strong office leasing pre-commitments of...
AMID strong and stable demand for office space in top Asian cities such as Hong Kong, Beijing, Tokyo and New Delhi, Singapore has, comparatively speaking, fallen well behind its peers, according to data from global property consultancy CBRE. In its biannual Global Prime Office Occupancy Costs survey of 126 markets, CBRE reported that the Asia-Pacific region had seven cities in the top 10 list of office...
BlackRock has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion, in what the US firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located along Marina View at Marina Bay, has more than 1.25 million square feet of net lettable area and has Citigroup as its anchor...
QATAR Investment Authority (QIA) said on Monday it has reached an agreement with a subsidiary of a fund advised by BlackRock to acquire Asia Square Tower 1 in Singapore at about S$3.4 billion. This marks the largest single-tower real estate transaction in Asia-Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office...
CapitaLand Commercial Trust (CCT), Singapore’s largest office real estate investment trust, will acquire the remaining 60 per cent stake it does not own in the CapitaGreen office tower for S$393 million. CCT will buy a 50 per cent share from CapitaLand group and another 10 per cent share from Mitsubishi Estate Asia, the company said in a filing to the Singapore Exchange on Monday (May 23). The...