Category: Property News

Two freehold, adjoining shophouses located at Jasmine Road, off Upper Thomson Road, have been launched for sale via expression of interest (EOI). These properties are situated just a minute’s walk away from the Upper Thomson MRT station and have a combined floor area of around 3,940 sq ft. According to ERA Realty Network, the exclusive marketing agent for the shophouses, the guide price is set at $10.5 million, or $2,665 psf.

The shophouses offer an immediate rental income and potentially, future capital appreciation. It may also be possible to redevelop the property into a four-storey residential building with a commercial space at the first storey, subject to authorities’ approval. The reveloped building could have a gross floor area of around 10,950 sq ft.

The two-storey shophouses are zoned for “residential with commercial at 1st storey” use with a gross plot ratio of 3.0 and building height limit of up to four storeys under the 2019 Master Plan. They are around 50m away from Thomson Plaza shopping mall and are adjacent to Adelphi Park Estate.

These properties are close to numerous amenities and valuable educational institutions. Popular eateries, cafes, Sin Ming Plaza and Junction 8 shopping mall are all within a …

An urban oasis at Tembusu Grand, the new collective sale offer in Tanjong KatongThe potential of a 9,999-year site at 52 to 62H Tanjong Katong Road could unlock its urban oasis at an attractive price. With a guide price of $63 million, the 26-unit walk-up development translates to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000. According to sole marketing agency Huttons Asia, located in District 15, the 4-storey building has a land area of 32,397 sq ft, allowing it to potentially have 49 residential apartments with an average size of 915 sq ft.

The potential of a 9,999-year site at 52 to 62H Tanjong Katong Road is now available for purchase! With a guide price of $63 million, the four-storey development features a land area of about 32,397 sq ft, offering the potential to yield approximately 45,356 ft of gross floor area upon redevelopment. This is based on the allowable gross plot ratio of 1.4 due to the property being zoned for residential use under the 2019 Master Plan.

The new development could potentially have 49 residential apartments with an average size of 915 sq ft, translating …

Two conservation shophouses located in the Jalan Besar/Little India precinct at 6 and 7 Perak Road have been made available for sale via tender with a guide price of $13 million. A three-minute walk away from Rochor MRT Station, these two-storey shophouses come with mezzanine space and a built-up area of 5,360 sq ft. Approved for use as a backpackers’ hostel, they occupy a land area of approximately 2,870 sq ft and have an 11.4m-wide frontage along Perak Road.

The properties are well-maintained and need minimal refurbishments, making them ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers post-pandemic. Investors are also expected to show keen interest in the properties, as they can potentially bring in a gross rental yield of over 3% due to their strong rental demand and close proximity to amenities in District 8 and the Bugis area.

The vendor is willing to sell the shophouses with vacant possession, thus enabling the new owner to decide which type of tenant profile they desire for the property. As they are zoned for commercial use, no additional buyer’s stamp duty will be payable on the purchase. The tender for …

Sandeep Sethi has been appointed as Division President of Work Dynamics in the Asia Pacific region by JLL. He will now be responsible for overseeing and expanding the North Asia market share for JLL in Mainland China, Hong Kong and his current portfolio in West Asia.

Based in Gurgaon, Sandeep will directly report to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific. He has 27 years of experience in the corporate sector, having worked with JLL for the last decade. His appointment is a reflection of deep client relationships and growth in the occupier business in West Asia, which now manages over 160 million sq ft of office space across 1,500 client sites in India, Sri Lanka, Mauritius, and Bangladesh.

JLL’s Work Dynamics business unit provides services addressing the full real estate life cycle for occupiers, such as integrated facilities management, construction management services, sustainability and workplace consulting, and lease transaction management. Sandeep’s appointment reinforces JLL’s commitment to both developing and elevating its people to meet the rapidly diversifying client base across the Asia Pacific.

Susheel Koul, CEO of Work Dynamics in Asia Pacific, said: “Sandeep is an established leader and a respected client advisor with an astute …

An industrial property at 1 Benoi Road, located in Jurong Industrial Estate, has launched for sale with an Expression of Interest (EOI) exercise with a guide price of $11.3 million. With a sprawling site area of over 500,000 sq ft, the property has waterfront access.

Huttons Asia, the marketing agent for this property, said in a press release that it is suitable for shipbuilding, ship or vessel repair and maintenance. The property is situated at the junction of Benoi Road and Pioneer Road and lies 24km from the city centre. It is close to housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. The Ayer Rajah Expressway and Pan-Island Expressway facilitate greater connectivity.

Isabel It, associate division director at Huttons Asia, said the plot is a regular shape, with a corner frontage of 255m along Benoi Road and Pioneer Road and an average plot depth of 213m. At its east, the land has a 230m frontage along the waterfront. She also said the land is of a flat contour, with an access road level.

Lee Sze Teck, senior director of research at Huttons Asia, noted from records that the last known transaction of comparable property …

GLS plot at Lentor Hill fetches $1,130 psf pprGuocoLand emerges victorious for GLS plot at Lentor Gardens at $985 psf ppr

Today, the tender for the residential government land sale (GLS) site at Lentor Gardens closed with only one bid, $486.8 million, from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The amount translates to a land rate of $985 psf per plot ratio (psf ppr).

The joint venture partners are envisioning the development of a new, high-end residential area with around 533 units that will include 600 sqm of childcare facilities. This new development complements the two projects – Lentor Modern and Lentor Hills Residences – of the transforming Lentor Hills estate.

Mark Yip, CEO of Huttons Asia, remarks that this $958 psf ppr bid is the lowest for a land parcel in the Lentor precinct. There was also only one bid since the tender of the Silat Avenue GLS site in 2018, won by a consortium led by UOL Group for $1.035 billion.

Two other residential GLS sites have been sold in Lentor: Lentor Central, won by a consortium comprising China Communications Construction, Soilbuild Group Holdings and United Engineers for $481.03 million ($1,108 psf ppr), and …

Grade A office rents in the CBD of Singapore grew in 1Q2023 and q-o-q growth slowed for the second consecutive quarter according to JLL, a real estate consultancy. The growth of 1.0% q-o-q in gross effective rents to an average of $11.30 psf per month (psf pm) was lower than the 1.2% recorded in the previous quarter, which marked the first slowdown after five consecutive quarters of growth.

Andrew Tangye, Head of Office Leasing and Advisory at JLL Singapore, believes that the easing of rental growth is due to macroeconomic uncertainties which have dampened demand for office space. Large space users are reportedly “pressing the pause button” on expansionary and relocation plans.

Despite the current “cautious mood”, the tight supply of Grade A office space has seen some occupiers seizing the opportunity to upgrade to better office spaces at new and upcoming completions. An example of this is Corney & Barrow who relocated to Hub Synergy Point and German insurer Munich Re who took up two floors at 18 Cross Street for its new office.

New office space in the CBD includes Guoco Midtown in the Bugis-Beach Road area which received its Temporary Occupation Permit in January. About 80% of …

Bukit Timah Estate is a luxurious and prestigious residential area located in the central region of Singapore. The estate is known for its lush greenery, serene environment, and high-end properties that offer a luxurious lifestyle. It’s a popular residential area among expatriates, high-net-worth individuals, and affluent locals.

History of Bukit Timah Estate

Bukit Timah Estate is named after Bukit Timah Hill, which is the highest natural point in Singapore. The estate was developed in the early 1900s as a residential area for wealthy Europeans and Asians. The estate was later expanded in the 1960s and 1970s to cater to the growing population of Singapore.

Today, Bukit Timah Estate is a prime residential area that boasts some of the most luxurious and exclusive properties in Singapore. The estate is home to a mix of landed properties, condominiums, and apartments, making it an ideal place for families, couples, and singles.

Things to do in Bukit Timah Estate

Bukit Timah Estate is known for its lush greenery and scenic spots that offer a serene escape from the hustle and bustle of Luminar Grand city life. One of the most popular destinations in Bukit Timah is the Bukit Timah Nature Reserve. The reserve is …