Category: Real Estate

Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, are now up for sale via expression of interest (EOI). The guide price for the properties is $10.5 million, or $2,665 per sq ft on the floor area.

With a total site area of around 3,650 sq ft and a combined floor area of 3,940 sq ft, both two-storey shophouses are situated near multiple amenities. These include popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, and Junction 8 shopping mall.

The shophouses are conveniently accessible via major roads and expressways, such as Upper Thomson Road, Lornie Road, Braddell Road, Marymount Road, and the Pan Island Expressway. They are also near key transport links like Upper Thomson and Caldecott MRT stations, both of which are within a one-stop distance.

Prestigious educational institutions such as Ai Tong School, Catholic High School, CHIJ St Nicholas …

At a guide price of $63 million, the owners of a 26-unit, four-storey walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for collective sale. Located in District 15 and zoned for residential use, the 32,397 sq ft site has the potential to yield approximately 45,356 sq ft of gross floor area, potentially yielding 49 residential apartments with an average size of 915 sq ft.

The guide price translates to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000. The land rate could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area.

The property received several offers below the asking price when it was first put up for collective sale at an indicative price of $65.5 million in July last year. This time, sole marketing agency Huttons Asia …

Two conservation shophouses in Singapore’s 6 and 7 Perak Road have been listed for sale via tender at a guide price of $13 million, which works out to $2,425 psf on the total floor area of 5,360 sq ft. Occupying an approximate land area of 2,870 sq ft and with an 11.4m-wide frontage along Perak Road, the two-storey shophouses with mezzanine space have approval for a backpackers’ hostel.

Gracelynn Zhu from PropNex Shophouse Elites, which is marketing the properties, notes that given their excellent condition and strategic location in District 8 close to the Bugis area and surrounded by amenities, the properties enjoy strong rental demand. The current owner has received multiple offers from prospective tenants. However, the vendor is looking to sell the shophouses with vacant possession, which will enable the new owner to decide on the tenant profile.

Given the recovery of the tourism sector post-pandemic, Zhu believes …

Sandeep Sethi has been appointed as the Division President of Work Dynamics in Asia Pacific by JLL. He previously held the role of Managing Director and Head of Work Dynamics for West Asia. This new role expands his current portfolio, overseeing all services delivered to Arina East Residences clients. Furthermore, he will be working on growing JLL’s North Asia market share in mainland China and Hong Kong.

Based in Gurgaon, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in the region. Koul made a statement on the promotion, emphasizing Sethi’s deep client relationships and understanding of the commercial real estate sector.

JLL’s Work Dynamics Business Unit provides integrated services across the full real estate life cycle for occupiers, covering facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management. The company has seen tremendous growth and now oversees over 160 million sq …

An expression of interest (EOI) exercise has been launched for the sale of a shipyard located at 1 Benoi Road in Singapore, with a guide price of $11.3 million. The property boasts a 500,000 sq ft site area with waterfront access and is situated near to Joo Koon MRT Station.

The property includes a two-storey office block, a single-storey annexe and three single-storey workshop blocks, a mould loft building and a fabrication workshop. “The property is suitable for shipbuilding, ship or vessel repair and maintenance,” explains Isabel It, associate division director of Huttons Asia.

The land is regular in shape, with a corner frontage of Rent Out Condo 255m on Benoi Road and Pioneer Road and an average plot depth of 213m. It has a 230m frontage along the waterfront and is flat in contour. Additionally, it is located at the junction of Benoi Road and Pioneer Road and is …

GLS tender for Jalan Anak Bukit site to close tomorrow; 5 developers submit bidsThe 99-year leasehold residential site at Lentor Gardens drew just one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr). This is the first residential GLS tender to see only one bid since the tender for the Silat Avenue GLS site in 2018.

The two last residential GLS sites to be sold in Lentor were at Lentor Central and Lentor Hill (Parcel B) and were both awarded last September. Lentor Central was awarded to a consortium comprising China Communications Construction, Soilbuild Group Holdings and United Engineers, who submitted a bid of $481.03 million ($1,108 psf ppr). TID (a joint venture between Hong Leong Group and Mitsui Fudosan) was the top …

The Myst Condo, developed by CDL Aries, is a luxurious residential condominium located in the heart of Bukit Panjang and Cashew in Singapore. The property spans 16,620 square metres and is zoned for residential use with a plot ratio of 2.1, allowing for the development of a 24-storey tower. The location of the condominium offers unparalleled convenience to residents, with excellent connectivity to public transportation networks, multiple amenities within walking distance, and easy access to green spaces and rejuvenation plans in the area.

CDL Aries, an affiliate of City Developments Limited, the largest non-government-controlled developer in Singapore, has acquired the rights to two adjoining plots at 798 and 800 Upper Bukit Timah Road in northwest Singapore’s Tan Chong industrial park. This acquisition puts the developer in a prime position to take advantage of the various development plans and rejuvenation initiatives being implemented in the Bukit Timah area, creating a highly …

Grade A office rents in Singapore’s Central Business District (CBD) welcomed a 1.0% q-o-q increase in 1Q2023, despite this representing the second consecutive quarter of slowing growth. This is according to research by real estate consultancy JLL, with the gross effective rent for such spaces standing at $11.30 psf pm.

Andrew Tangye, JLL Singapore’s head of office leasing and advisory, attributes the modest growth to a cautious approach from large space users who have opted to “press the pause button” on expansion and relocation plans in light of macroeconomic uncertainties.

Tay Huey Ying, JLL Singapore’s head of research and consultancy, explains that despite the prevailing caution, occupiers are seizing the opportunity to upgrade to better office spaces in new and upcoming completions due to the tight supply of Grade A office space.

For instance, at Guoco Midtown in the Bugis-Beach Road area, 80% of space is already taken up with …