Month: April 2023

A rare opportunity is up for sale in the form of two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road. The two-storey shophouses have a combined floor area of about 3,940 sq ft and a guide price of $10.5 million, or $2,665 psf on the floor area.

The properties 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 near a number of major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway, the properties have great accessibility. They are just a minute’s walk away from Upper Thomson MRT Station and Caldecott MRT Station, both part of the Thomson-East Coast Line and the Circle Line respectively.

Investors can look forward …

At a guide price of $63 million, the owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the collective sale of the property. Boasting a land area of approximately 32,397 ft and zoned for residential use with an allowable gross plot ratio of 1.4 under the 2019 Master Plan, the sale could yield approximately 45,356 ft of gross floor area upon redevelopment.

The guide price works out to a land rate of $1,401 per square foot according to plot ratio (psf ppr) and includes an estimated land betterment charge of approximately $530,000. Additional 7% bonus balcony gross floor area allows the land rate to go down to $1,375 psf ppr.

Located just five stops to City Hall Interchange and within a 500m walk to Paya Lebar MRT Station as well as having many nearby shopping malls such as PLQ mall, i12 and Parkway Parade, …

Two-storey conservation shophouses in District 8 situated at 6 and 7 Perak Road have been listed with a guide price of $13 million which works out to $2,425 psf on the total floor area. These well-maintained shophouses have a built-up area of 5,360 sq ft and occupy a land area of approximately 2,870 sq ft. Approved to be used as a backpackers’ hostel, they have an 11.4m-wide frontage along Perak Road.

The properties are located in the Jalan Besar/Little India precinct, and are a three-minute walk to Rochor MRT Station. With strong rental demand, the current owner has received multiple offers from prospective tenants. The vendor is offering the shophouses with vacant possession, to enable the new owner to decide which tenant profile they desire for the property.

As the tourism sector is recovering strongly post-pandemic, the properties may be ideal for a hostel operator to take advantage of the …

Sandeep Sethi has been appointed as the division president of work dynamics in Asia Pacific by JLL. Possessing 27 years of experience in the corporate sector, Sandeep was chosen for the role due to his understanding of the dynamic nature of commercial real estate and the capacity to forge deep client relationships. He has previously served as the managing director and head of work dynamics for West Asia.

In this new position, Sandeep will manage services delivered to clients in North Asia, along with overseeing JLL’s share in mainland China and Hong Kong. He will be additionally responsible for the full real estate life Lumina Grand EC cycle for occupiers, including integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management.

Reporting directly to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific, the role further entrenches Sethi’s accomplishments in the ten years …

. Singapore’s real estate investment sales got off to a slow start in 2023, let down by the country recording just $4.2 billion of investment sales during the first quarter. This was a marked decrease of 61% compared to the same period in 2022.

The residential market had its own share of challenges, with only $1.6 billion of deals made during the first three months of the year. However, the sale of Holland Tower is the first successful residential en bloc transaction in the Core Central Region since property cooling measures were imposed in December 2021. This suggests that there is a developing interest for prime locations for development sites, as the nation waits for signs of recovery from the pandemic.

Frasers Centrepoint Trust and Frasers Property paid $652.5 million for a 50% stake in Nex, one of the notable transactions that took place in the commercial sector. The industrial …

This incredible plot of land located at 1 Benoi Road in Singapore’s Jurong Industrial Estate, is now up for sale and is going for a guide price of $11.3 million. With a site area of over 500,000 sq ft, the plot of land has plenty of waterfront access and is situated near housing estates such as Jurong East, Jurong West, Bukit Batok, and Boon Lay Gardens.

The property includes a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and wharf, making it ideal for shipbuilding, ship repair and maintenance. Additionally, Access to other parts of the island is facilitated by the nearby Ayer Rajah Expressway and Pan-Island Expressway, while Marina Gardens Condo Joo Koon MRT Station is only a 5-minute drive away.

In terms of size and shape, the land plot has a regular shape with a corner …

GuocoLand and Intrepid Investment (a subsidiary of Hong Leong Group) have emerged as the sole bidder for the 99-year leasehold government land sale (GLS) site at Lentor Gardens, submitting a bid of $486.8 million which translates to a land rate of $985 psf per plot ratio (psf ppr). In doing so, they have set a new low for land parcels in the Lentor precinct.

The joint venture partners have revealed that their planned development for the site will be a new high-end residential project featuring around 533 units and 600 sqm of childcare facilities. They intend for the project to complement their two other upcoming developments in the Lentor Hills estate and add to the area’s reputation as a premium residential area.

Mark Yip, CEO of Huttons Asia, notes that this is the first GLS tender to see only one bid since the Silat Avenue GLS site in 2018, which …