Author: senoiaraceway

Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been put up for sale at an advertised guide price of $10.5 million, or $2,665 per square foot on their existing combined floor area of 3,940 sq ft. The site boasts a total area of 3,650 sq ft and the properties are zoned for “residential with commercial at first storey” use.

According to Steven Tan, managing director of capital markets and investment sales at ERA Realty Network – which is the exclusive marketing agent for the shophouses – the 2019 Master Plan permits the construction of up to four storeys with a gross plot ratio of 3.0. Located a 50 metres away from Thomson Plaza, these properties benefit from their convenient access to major highways and expressways such as the Lornie Road, the Thomson Road, the Braddell Road, the Marymount Road and the Pan …

The owners of a four-storey, 26-unit walk-up development at 52 to 62H Tanjong Katong Road in Singapore have put the property back up for tender at a guide price of $63 million. The site is zoned for residential use and has the potential to yield up to 45,356 sq ft of gross floor area upon redevelopment. With an estimated land betterment charge of $530,000 included, this gives a psf ppr of $1,401, or $1,375 with the addition of a 7% bonus balcony gross floor area.

Huttons Asia, the sole marketing agent for the property, noted that it had initially been put up for sale at an indicative price of $65.5 million in July last year, but no offers matched the asking price.

The location of the property is ideal for prospective buyers looking for new homes in District 15. It is a 10-minute drive from the CBD and only 500m …

The properties at 6 and 7 Perak Road have been put up for sale via tender with a guide price of $13 million. At $2,425 psf on the total floor area, this pair of conservation shophouses is a great investment opportunity for investors looking for assets that offer strong rental and capital growth. Both two-storey buildings with mezzanine space have a built-up area of 5,360 sq ft and occupy a land area of roughly 2,870 sq ft, boasting an 11.4m-wide frontage along Perak Road.

The properties are situated in the Jalan Besar/Little India precinct, just a three minute walk from Rochor MRT Station. On top of that, they are well-maintained and only require minimal refurbishment. This makes them attractive for rental purposes, with their prime location surrounded by amenities close to the Bugis area. The current owner is receiving “multiple offers” from prospective tenants.

Given the recovery of the tourism …

Sandeep Sethi has been appointed to the role of Division President of Work Dynamics in Asia Pacific by JLL. With a diverse experience of 27 years in the corporate sector and ten of them with JLL, Sethi has played a vital role in forging strong client relationships and growing the business to its largest occupier base in West Asia. He is currently based in Gurgaon, reporting to Susheel Koul, CEO of Work Dynamics in Asia Pacific.

In his new role, Sethi will be responsible for overseeing services delivered to JLL’s clients in the North Asia market, and for increasing the business’ market share in mainland China and Hong Kong. In addition, Sethi has been entrusted with the task of growing JLL’s occupier business in India, Sri Lanka, Mauritius, and Bangladesh.

Describing Sethi’s importance to the team, Koul spoke about his appointment as “reinforcing JLL’s commitment to developing and elevating our …

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Singapore’s real estate investments got off to a “slow start” in 2023, with the amount of investment sales for the first quarter of the year amounting to only $4.2 billion. This marked decrease in sales compared to that of 1Q2022’s $10.8 billion, is the lowest quarterly total since 2Q2020, when the government imposed “circuit breaker” measures.

Residential deals in the first quarter of 2023 amounted to $1.6 billion, with three notable collective sales; Meyer Park, Bagnall Court and of Holland Tower, totalling to some $583.8 million.

The sale of Holland Tower is particularly significant as it is the first successful residential en bloc transaction in the Core Central Region (CCR) since property cooling measures were imposed in December 2021, signifying “a nascent return” of interest for prime location development sites, upon the reopening of China.

However, the return does not guarantee success for collective sales. Daniel Ding, head of …

For a potential buyer looking to acquire an industrial site for shipbuilding, repair or maintenance activities, 1 Benoi Road in Jurong Industrial Estate offers an ideal opportunity. The property has a site area of over 500,000 sq ft with waterfront access, and is located at the junction of Benoi Road and Pioneer Road, roughly 24km from the City Centre. It 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.

The plot is regular in shape with a corner frontage of about 255m on Benoi Road and Pioneer Road, with an average plot depth of about 213m. Adjacent to it lies an approximately 230m frontage along the waterfront. It is generally at an access-road level with a flat contour, making it suitable for companies looking to expand their business.

Huttons Asia, the marketing agent for the …

GuocoLand and Hong Leong Group’s joint venture has emerged as the sole bidder for the 99-year leasehold residential government land sale (GLS) site at Lentor Gardens after the tender closed today, submitting a bid of $486.8 million. Translating to an estimated land rate of $985 psf per plot ratio (psf ppr), the two entities are looking to develop a new high-end residential project with around 533 units and 600 sqm of childcare facilities.

This is the first residential GLS tender to see only one bid since the tender of the Silat Avenue GLS site in 2018, which a consortium led by UOL Group won for $1.035 billion. The 1,074-unit Avenue South Residences was launched in September 2019 and is now fully sold.

Mark Yip, CEO of Huttons Asia, notes that the bid of $958 psf ppr is the lowest for a land parcel in the Lentor precinct. The $586.6 million …