PROPERTY investment sales in Singapore are likely to rebound as vaccination programmes are rolled out next year, with business sentiment picking up and border restrictions gradually eased, CBRE said in a press statement on Monday.

Michael Tay, head of capital markets for Singapore at CBRE, noted that the Singapore investment market has been resilient and has demonstrated its ability to recover from crisis situations in the past. “This was apparent post global financial crisis when real estate investment sales volume improved by a strong 265.4 per cent in 2010,” he said.

While investors are likely to remain discerning at the start of next year, they will still be in search of investments that provide higher returns, spurred by the low interest rate environment and ample liquidity, Mr Tay said.

As an investment destination, Singapore fits this bill given its “proven ability to handle the pandemic, macroeconomic stability and political-neutral stance”, he added.

(more…)
Read More

SINGAPORE-BASED property investment company 8M Real Estate (8MRE) has picked up two conservation shophouse properties in the Duxton Hill/Craig Road area for a total of S$26.4 million.

The District 2 properties on sites with balance leasehold tenures of close to 68 years each are being sold by entities linked to veteran property investor Stanley Quek.

8MRE is paying S$15.75 million for 28 Duxton Hill, a two-storey shophouse on land area of 3,557 square feet (sq ft). The ground floor is leased to Greek restaurant Fotia, while the office tenant that used to occupy the second level recently left when its lease expired. 8MRE is on the lookout for a replacement tenant for the second level. Dr Quek bought the property in 2011 for S$10.6 million.

(more…)
Read More

TWO conservation shophouses along Craig Road have been offered for sale with a total guide price of S$31 million, exclusive marketing agent Savills Singapore said on Monday.

The price tag translates to about S$3,157 per square foot based on an estimated built-up area of 9,817 square feet (sq ft).

The pair – located at 38 and 39 Craig Road – sits on a combined leasehold land area of about 3,726 sq ft. The site’s 99-year lease started in July 1989.

The plot is zoned for commercial use within the Chinatown-Tanjong Pagar conservation area, Savills said.

(more…)
Read More

THREE corner conservation shophouses with private courtyards, located at the junction of Craig Road and Duxton Road, are up for sale by expression of interest with a guide price of S$36 million, exclusive marketing agent Savills Singapore said on Wednesday.

This translates to approximately S$2,936 per square foot on the floor area, it added.

The adjoining shophouses, located at No 8, 9 and 10 Craig Road, sit on a combined land area of approximately 5,948 square feet (sq ft), with an estimated total built-up area of about 12,260 sq ft.

The land is zoned for commercial use, and the development boasts a 55 metre-wide dual road frontage along Craig Road and Duxton Road.

(more…)
Read More

THE slide in Singapore industrial property rents and prices continued in the third quarter, with the pace of decline gathering pace though occupancy improved, latest figures from JTC Corp show.

The industrial land and infrastructure agency said the rise in occupancy was driven by an increase in demand for storage amid a delay in new completions.

However, some property consultants offered another explanation for the rise in occupancy despite continuing rental declines.

Christine Li, head of research for Singapore and South-east Asia at Cushman and Wakefield, said: “This could mean that landlords were prioritising increasing occupancy at the expense of rental rates.”

(more…)
Read More

Seventh storey offering has been renovated; price is about S$1,800 psf

AN ENTIRE floor of GB Building in Singapore’s central business district has been launched for sale with a guide price of nearly S$9.8 million.

Located on the seventh storey of the 143 Cecil Street tower, the sale offering has been renovated and features a regular floor plate with a column-free layout.

Its price tag works out to about S$1,800 per square foot (psf) based on the strata area of 5,425 square feet.

(more…)
Read More

A ROW of freehold conserved shophouses near the Tiong Bahru Market food court will be launched for sale on Thursday via an expression of interest (EOI) exercise.

This comes hot on the heels of numerous other shophouses that have been put on the market or sold in recent weeks as the market continues to gain pace.

Located at 265, 267, 269 and 271 Outram Road, the four adjoining shophouses will carry an indicative price of at least S$50 million.

This translates to about S$2,733 per square foot (psf) based on an existing gross floor area of 18,295 square feet (sq ft), marketing agent Colliers International told The Business Times.

(more…)
Read More

MORE shophouses in Singapore have been launched for sale or transacted this week as the market continues to heat up after a months-long lull from pandemic-related restrictions.

Freshly launched properties include shophouses in River Valley, Bugis and Telok Ayer.

A four-storey conservation shophouse at 14 Mohamed Sultan Road, near Fort Canning Park, was also sold on Tuesday at S$12.2 million, Isabel Redrup Agency told The Business Times (BT).

(more…)
Read More

A PRIME ground-floor commercial unit, including 12 accessory car-park lots, within Bukit Timah Plaza has been launched for sale via an expression of interest (EOI) exercise, exclusive marketing agent SRI told The Business Times.

The strata area spans 17,351 square feet (sq ft). This includes the 12 car-park lots located on the surface open car park, leased to a parking management company.

(more…)
Read More

A PORTFOLIO of 27 strata office units occupying four levels of 20 Cecil Street in the heart of Singapore’s central business district has been offered for sale.

The indicative price for the entire portfolio is S$100 million, which translates to an average price of S$3,143 per square foot based on a total strata area of about 31,979 square feet (sq ft). The strata area of each unit ranges from 786 sq ft to 2,303 sq ft. The 27 Grade A units can be purchased individually or in bulk, said joint marketing agents PropNex Singapore and Savills Singapore.

(more…)
Read More