Category: Mortgage

A rare opportunity is now up for grabs in the market – two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road. These two-storey shophouses have a total site area of approximately 3,650 sq ft and an existing combined floor area of about 3,940 sq ft. The properties are launched for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.

The shophouses are zoned for “residential with commercial at 1st storey” use with a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan. Situated around 50m away from Thomson Plaza shopping mall and adjacent to Adelphi Park Estate, this location is accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island …

At 52 to 62H Tanjong Katong Road in Singapore, the owners of this 26-unit walk-up development have relaunched the property for a collective sale with a guide price of $63 million. Huttons Asia, the sole marketing agency, explains that the property was initially offered last July with an indicative price of $65.5 million. Various bids were below the asking price.

This 9,999-year parcel of land has an area of 32,397 ft and is zoned for residential use with a Gross Plot Ratio of 1.4, according to the 2019 Master Plan. This sets the stage for the potential for 45,356 ft of gross floor area upon redevelopment into 49 apartments with an average size of 915 sq ft.

The guide price translates to a land rate of $1,401 psf per plot ratio with an estimated land betterment charge of approximately $530,000. Taking into consideration the 7% bonus balcony gross floor area, …

Properties 6 & 7 Perak Road have recently been made available for sale via tender with a guide price of $13 million. These two-storied shophouses with a mezzanine floor boast a built-up area of 5,360 sq ft, and sit perched atop a plot of land measuring about 2,870 sq ft, with an 11.4m-wide frontage along Perak Road.

This prime property resides in the Jalan Besar/Little India precinct in District 8 of Singapore, and is a mere three-minute walk to Rochor MRT Station. The properties are in a well-maintained condition, and might require minimal refurbishments only.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, reveals that the owner had received multiple offers from prospective tenants, despite the fact that the vendor is looking to sell the shophouses with vacant possession. Zhu anticipates the properties to draw interest from investors seeking assets that can offer strong rental and capital …

Sandeep Sethi has been appointed as division president of work dynamics in Asia Pacific by JLL. As Managing Director and Head of Work Dynamics in West Asia, Sethi has already forged deep client relations and grown the business to a large scale – managing over 160 million sq ft of office space across 1,500 client sites in India, Sri Lanka, Mauritius and Bangladesh.

In his new role, apart from expanding his current portfolio for West Asia, Sethi will now be responsible for North Asia markets too, overseeing services delivered to clients and aiming to grow JLL’s North Asia market share in mainland China and Hong Kong. He will be reporting to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific from his base in Gurgaon.

Susheel Koul commented on his appointment with admiration: “Sandeep is an established leader and a respected client advisor with an astute understanding of the …

A property with waterfront access located at the popular intersection of Benoi Road and Pioneer Road within Jurong Industrial Estate is now open for sale. The site area in total spans across over 500,000 sq ft. and consists of a two-storey office block plus an annexe office, three blocks of single-storey workshops, a mould loft building, a fabrication workshop and a wharf.

The property has been listed via an expression of interest (EOI) exercise, with a guide price at $11.3 million and is suitable for land usage such as shipbuilding, ship or vessel repair and maintenance.

The property is approximately 24km from the city centre, situated in close proximity to numerous housing estates like Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Drivers will find easy access to the area via Ayer Rajah Expressway and Pan-Island Expressway and the nearby Joo Koon MRT Station is just five-minutes away.…

A tender for a 99-year leasehold residential government land sale (GLS) site at Lentor Gardens closed today with just one bid from GuocoLand and Intrepid Investments (a subsidiary of Marina Gardens Condo Hong Leong Group). In submitting a bid of $486.8 million, the joint venture partners translated to a land rate of $985 psf per plot ratio (psf ppr). This was the lowest bid for a land parcel in the Lentor precinct, and the first time a residential GLS tender had seen only one bid since Silat Avenue GLS site in 2018.

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

City Developments Limited’s affiliate, CDL Aries, has acquired two adjacent plots of land at 798 and 800 Upper Bukit Timah Road in northwest Singapore’s Tan Chong industrial park. The 16,620 square metre (178,900 square foot) property is zoned for residential use with a plot ratio of 2.1, allowing the developer to build a project up to 24-storeys in height. The Myst Condo is situated in the heart of Bukit Panjang and Cashew, and is well-connected to public transport networks, with the Cashew MRT station on Singapore’s Downtown Line just seven minutes away and the old Bukit Timah railway station within a 13-minute walk. The area has been targeted for rejuvenation, including the Railway Corridor development and the Beauty World rejuvenation plan.

Residents of The Myst Condo will enjoy unparalleled convenience with Bukit Panjang Integrated Transport Hub just a short walk away, providing quick access to public transportation and the nearby …

Despite macroeconomic uncertainties that dampen demand for office space causing large space users to “generally press the pause button” for expansionary and relocation plans, Grade A office rents in Singapore’s Central Business District (CBD) saw a 1% q-o-q increase in 1Q2023 to an average of $11.30 psf per month (psf pm). This marks a second consecutive quarter of slowed growth following five straight quarters of growth previously.

Andrew Tangye, Head of Office Leasing and Advisory at JLL Singapore, attributes the current cautious mood of occupiers to the macroeconomic environment. Leasing activity in 1Q2023 was mainy driven by small-to-medium-sized space occupier with immediate requirements such as new market entrants and those looking to accommodate new workplace design or increased hirings that took place in 2022. Such occupiers include Munich Re and Corney & Barrow.

Despite the current cautious mood, occupancy of Grade A office space remains tight, with some occupiers seizing …

.A charming, riverfront-facing property in the heart of Singapore’s CBD has been sold for a whopping price of $37 million, following strong interest from investors. Savills Singapore brokered the deal, which saw the seller gain massive profits of $16 million since their purchase in June 2018 for $21.35 million.

Situated at 52 Boat Quay, the six storey shophouse features a total built-up area of 6,446 sq ft and occupies a 1,119 sq ft site. After undergoing extensive renovations in 2015, the commercial space is now modern and well-equipped. Braci, an Italian restaurant, occupies the top two floors while the ground floor houses an Izakaya bar. The second and fourth floors have corporate office tenants.

Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore, noted the overwhelming interest displyed by investors and highlighted the rarity of a riverfront-facing property available for sale in the tightly …