Sixty-seven strata units in Upper Serangoon Shopping Centre, a freehold mixed development, have been put up for sale by tender. Jones Lang LaSalle, the exclusive marketing agent, said the development consists of a total of 173 units comprising of shops, offices and residential units. The 67 strata retail units with a total area of about 4,392 square metres are up for sale. These units make up a 59 per...
Singapore Retail
Some retailers in malls affected by road closures because of the Singapore Grand Prix have complained that shopper-traffic during the Formula One weekend dipped the worst in the event's three-year run. This was despite the Circle Line rail network offering shoppers a new access to Marina Bay. Mohammad Ariff, manager of Digi-Tech Exchange at Suntec City Mall, said: "For our shop, business has dropped 60...
Rental for prime Orchard Road locations remained stable at about S$31.10 per square foot in July and September after contracting for the last seven quarters. Property consultancy CB Richard Ellis (CBRE) said rent in suburban malls however continued to strengthen. It said this is because of a strong catchment demand. Prime Suburban rents rose to S$29 per square foot, per month between July and September...
CapitaLand has said its new development at Bedok Town will likely attract potential buyers such as HDB upgraders. Property analysts believe the area will also be rejuvenated as it now lacks new residential and commercial developments. The Bedok Bus Interchange will receive a facelift in the fourth quarter of next year. The bus interchange, together with a piece of land next to it, will be transformed and...
Retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Government roll out plans to improve the rail network, according to some analysts. With the Land Transport Authority set to spend $60 billion over the next decade on initiatives to ease passenger congestion, market watchers said the move could also direct more traffic to underground...
Some analysts have said retail rents for underground malls in the city could rise by between 20 and 40 per cent in the years ahead, as the Singapore government rolls out plans to improve the rail network. The Land Transport Authority will spend S$60 billion over the next decade on initiatives to ease passenger congestion. Market watchers added that the move could also direct more traffic to underground...
THE Clementi Mall, a six-storey shopping complex boasting about 190,000 sq ft of retail space is scheduled to be operational by January next year, with Fairprice Finest, Foodfare and the National Library Board (NLB) as its anchor tenants. The 99-year leasehold property is owned by a joint venture of Times Properties, NTUC FairPrice Co-Op and NTUC Income Insurance Co-op. Level one and basement one -...
New flats, seamless link for MRT and bus interchange BEDOK Town Centre will receive a complete facelift in the next few years, with the construction of a new integrated public transport hub and private homes. These developments will also have space for commercial use totalling 35,000 sq m. The most dramatic change will be the seamless linking of Bedok bus interchange to the MRT station and the building of...
Plans to woo shoppers back, correct impression that area is best avoided due to events held there BUSINESSES in the Suntec City area are languishing, even as shoppers nurse the impression that the area is now best avoided. Shoppers think that, with the area being a mega-event hub, it is where road closures, traffic diversions and parking problems are. Suntec Reit, the owner and manager of Suntec City...
Some shop tenants at the Jurong East, Clementi and Bukit Batok train stations are hoping for rental rebates from SMRT, which manages the stations. This follows the announcement that those stations will not have train services on a few days in September due to upgrading works. Some tenants estimate that they will suffer a loss of a few hundred dollars in earnings for each day the trains do not run from...