Singapore Retail

A row of six adjoining conservation shophouses in Tanjong Pagar has been put up for sale at an indicative price of $57.8 million. Marketing agent JLL yesterday said the guide price for the units - 48 to 56 Peck Seah Street - works out to about $2,900 per sq ft, based on the existing gross floor area of 19,938 sq ft. The units, which are owned by a fund managed by Phoenix Property Investors, have a...

CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore's first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates to a land price of $S2,248 per square foot of gross floor area, said Cushman & Wakefield, the exclusive marketing agent...

A New party has emerged in the race for Jurong Point mall. The Business Times has learnt that Mercatus Co-operative - an NTUC social enterprise that owns and manages suburban malls - is now the front runner for Jurong Point. Its bid is understood to be about S$2.2 billion, which would translate to S$3,343 per square foot based on the 658,000 square feet of commercial net lettable area owned by an...

Rents and prices of commercial space in Singapore fell at a faster clip last year compared to 2015, with office vacancies rising to a near five-year high since Q1 2012 after some large projects were completed. Latest data from the Urban Redevelopment Authority (URA) released on Thursday showed that rents of office and retail space have fallen more than 8 per cent in 2016, steeper than the 6.5 per cent drop...

RENTS and prices of commercial space in Singapore fell by a faster clip in 2016 compared to 2015, with office vacancies shooting up to a four-year high since Q1 2012. Latest data from the Urban Redevelopment Authority (URA) released on Thursday showed that rents of office and retail space slipped over 8 per cent in 2016. Office rents slipped for the seventh straight quarter by 1.8 per cent in the...

The five-storey Serangoon Plaza will soon be torn down to make way for a new commercial development, said property group Tong Eng on Tuesday (Jan 10). Tenants have been told to move out by the end of this month, Tong Eng said, adding that all tenants have said they will be able to meet the deadline. Mustafa, Singapore’s biggest 24-hour mall, has a branch at Serangoon Plaza and is the largest tenant...

Macquarie, Blackstone and Frasers Centrepoint have been shortlisted for the purchase of Guthrie and Lee Kim Tah's space in Jurong Point mall. The Business Times understands that Macquarie and Blackstone have each offered about S$2.2 billion - crossing S$3,350 per square foot (psf) on the 658,000 square foot commercial net lettable area owned by the equal joint-venture between Lee Kim Tah Holdings and...

The total value of big-ticket retail properties that have changed hands so far this quarter has surged to S$731.3 million, up 22.4 per cent from S$597.4 million in the preceding quarter and more than double the S$320.3 million in Q4 last year. This tally as at Dec 8, compiled by Savills Singapore, was based on deals of at least S$10 million originating from the private sector. Perennial Real Estate...

Retail space is filling up at Bukit Panjang’s upcoming shopping centre called Hillion Mall, announced Sim Lian Group on Friday (Nov 25). It said in a press release that 90 percent of the approximately 174,730 sq ft of lettable area has been taken up by about 100 retail as well as food and beverage (F&B) tenants. There are five anchor tenants - NTUC FairPrice, PCF Sparkletots Preschool, Amore...

Unfazed by the sluggish local retail conditions, Toys “R” Us is expanding its foothold in Singapore, with plans to unveil two more stores in the coming months. One will be slated for opening before Christmas and another by early-2017, country manager Raymond Burt told Channel NewsAsia on Wednesday (Nov 2) at the launch of its newly-refurbished flagship store at VivoCity. That will bring the number...