Category: Mortgage

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 Island Expressway, as well as being just a minute’s walking distance away from both the Upper Thomson and Caldecott MRT Stations.

The sale presents a great opportunity for investors looking to make an income via rental opportunities and benefit from capital appreciation in the long term. For those looking to upscale the asset, the revelopment of the shophouses into a four-storey residential building with commercial space on the first level could be a viable option, subject to the approval of the relevant authorities. Establishing such a building would create a gross floor area of 10,950 sq ft.

The properties are only a stone’s throw away from numerous amenities, including popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall. In addition, the vicinity boasts of prestigious educational institutions such as the Ai Tong School, the Catholic High School, the CHIJ St Nicholas Girls’ School, the Marymount Convent School, and the Whitley Secondary School, all of which are within a 1-2km radius.

Currently, the two shophouses come with existing tenancies and are sold “as is where is”. The deadline for the expression of interest exercise is May 8 at 3pm.

For those on the hunt for more commercial properties located in the area, they need not look far. There has been a recent transaction of commercial property on Jasmine Road, with more Singapore commercial properties just a search away.…

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 from Paya Lebar MRT Station. Shopping malls such as PLQ mall, i12 and Parkway Parade can also be found nearby.

Furthermore, recreational facilities such as the Singapore Sports Hub and East Coast Park are close by, as well as various F&B and cafe offerings in the Katong and Joo Chiat areas. Terence Lian, Head of Investment Sales at Huttons Asia, believes that this desirable location and the recent brisk sale of Tembusu Grand in the area bode well for the collective sale.

The successful development of Tembusu Grand at Jalan Tembusu, which is just off Tanjong Katong Road, demonstrates the market demand there. The 638-unit condo by City Developments and MCL Land sold 53% of its units at an average price of $2,456 psf during its launch weekend.

This sale suggests that buyers appreciate the area for its convenience – it is only five stops to City Hall Interchange and within a short walk to the Paya Lebar Commercial Hub. Young couples and professionals alike will no doubt be interested in such a desirable location.

The tender for 52 to 62H Tanjong Katong Road closes on May 9 at 2pm. …

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 sector post-pandemic, the properties may be just what hostel operators are looking for – convenient and accessible accommodation that can cater to the influx of tourist and travellers. The vendor is selling the properties with vacant possession, enabling the new owner to fill the units with the tenant profile they desire.

What better incentive to purchase these properties than knowing no additional buyer’s stamp duty is payable. Additionally, the future owner could potentially get a gross rental yield of over 3%.

With the tender closing on May 8 at 3pm, this is an opportunity that shouldn’t be missed. Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, is expecting interest from investors and hostel operators alike.…

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 people to serve our rapidly diversifying client base across Asia Pacific.”

JLL’s Work Dynamics business unit provides occupiers with integrated facilities management, construction management services, sustainability services, workspace consulting, and lease transaction management. With Sethi’s appointment to this important role, the company looks to enhance its portfolio even further.

Commenting on bringing Sethi into the leadership fold, Koul said, “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate.”

With rate hikes, cooling sentiments, and 2022 seeing a 27% y-o-y decrease in Apac real estate investments, as per JLL’s report, the industry is now looking to opportunistic investments in 2023, as predicted by CBRE. This expansion of Sethi’s portfolio is therefore the perfect opportunity for JLL to capitalise on this trend and establish a powerful foothold in the Asia Pacific region.…

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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 capital markets (land & building, international real estate) at Knight Frank Singapore, noted the gulf in price expectations between sellers and developers. The success rate for collective sales from 2021 up to now has been around 33%, compared to the 63% success rate from 2017 to 2018.

Chia Mein Mein, head of capital markets (land & collective sale) at Knight Frank Singapore, commented that “for the collective sales mechanism to work in the current cycle, owners must adopt reasonable expectations on price in order to pique the interest of developers and for developers to appreciate that replacement costs for owners have increased substantially.”

The commercial market in 1Q2023 was mostly quiet, however two noteworthy transactions include the sale of 39 Robinson Road to Yangzijiang Shipbuilding for $399 million, and Frasers Centrepoint Trust and Frasers Property’s acquisition of a 50% stake in Nex for $652.5 million.

The industrial sector saw an increase in investment sales in 1Q2023, rising 62.8% q-o-q to $681.1 million. Knight Frank attributes this to the market shifting focus while waiting on the potential repricing of assets in the commercial sector. Notable industrial deals last quarter include the acquisition of four Cycle & Carriage properties by M&G Real Estate at approximately $333 million, as well as the disposal of 12 and 31 Tannery Lane by Ho Bee Land for $115 million.

Knight Frank forecasts that investment activity in Singapore “will get worse before it gets better”, due to macroeconomic uncertainties and volatility in the global banking sector. Financing has become more challenging, and will remain so until there are visible signs of the global economy and financial conditions stabilising.

Consequently, the consultancy has downgraded its projections for full-year investment sales, from a range between $22 billion and $25 billion to a range between $20 billion and $22 billion. Investors will remain cautious as they monitor for signs of repricing before deciding on their next move.…

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 property, has set a guide price of $11.3 million for the sale, which is subject to approval from relevant authorities. The EOI exercise for the property closes on April 27 at 3pm.

Recent transactions of industrial property in the vicinity of 1 Benoi Road may be indicative of the plot’s potential for future growth. In December 2020, a 328,105 sq ft plot at 5 Benoi Road was purchased at $10.5 million. Moreover, a shipyard with a site area of about 1.5 million sq ft at 55 Gul Road located 10 minutes away from 1 Benoi Road was acquired by ST Engineering for $95 million in February this year.

For anyone looking to take advantage of this rare opportunity to venture into shipbuilding or maintenance activities, 1 Benoi Road could make an ideal investment.…

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 bid for a GLS site at Lentor Hills Road (Parcel A) in January 2022 translates to $1,060 psf ppr, while the top bids for Lentor Central and Lentor Hill (Parcel B) were $481.03 million ($1,108 psf ppr) and $276.36 million ($1,130 psf ppr) respectively.

These two land parcels can yield about 470 and 265 units respectively, while the Lentor Gardens site has the potential to bring in 530 units. Steven Tan, CEO of OrangeTee & Tie, believes that the eventual launch at the site could see units priced around $1,950 to $2,050 psf.

The Lentor Gardens site is within walking distance of the Lentor MRT station and close to Thomson Nature Park and Yio Chu Kang Stadium and Sports Complex. Additionally, it is also about 1km away from CHIJ St Nicholas Girls’ School, which should be attractive to parents of school-going children.

Leonard Tay, head of research at Knight Frank Singapore, points out that all seven residential sites in Lentor – the five that have now been sold and the two still available for sale – could potentially bring about some 3,500 new units to the area, equating to almost 11,000 new residents.

This may deter developers from bidding given the possible oversupply of homes and the risk of being slapped with Additional Buyer’s Stamp Duty if they are unable to sell all units within five years, given the current economic outlook.

GuocoLand is set to launch the 598-unit Lentor Hills Residences, developed by GuocoLand, Hong Leong Holdings and TID. It follows GuocoLand’s launch of the 605-unit Lentor Modern integrated development last September, which is now 88% sold at an average price of $2,104 psf.

Two other GLS sites at Lentor are available for sale under the 1H2023 GLS Programme; a site at Lentor Central, capable of yielding 475 units, is expected to be launched for tender this month, while a 500-unit residential site at Lentor Gardens is listed on the Reserved List.…

Singapore is a small island city-state with a population of over 5 million people. The country is known for its efficient public transportation system, excellent healthcare, and high standard of living. One of the key contributors to Singapore’s high standard of living is its well-planned and well-designed public housing estates. Two of the most popular and livable housing estates in Singapore are Tengah Town and Bukit Batok Town. In this article, we will compare and contrast these two estates to determine which one is the best.

Tengah Town is Singapore’s newest public housing estate. It is located in the west of Singapore, adjacent to Choa Chu Kang Town. Tengah Town is designed to be Singapore’s first “forest town” with a focus on sustainable living. The town is expected to have 42,000 homes and a population of 100,000 when it is fully developed.

Bukit Batok Town, on the other hand, is an older housing estate that was built in the 1970s. It is located in the western part of Singapore and is known for its well-established infrastructure and amenities. Bukit Batok Town is home to around 140,000 residents and is one of the largest public housing estates in Singapore.

Transportation

When it comes to transportation, both Tengah Town and Bukit Batok Town are well connected to the rest of Singapore. Tengah Town is located near the upcoming Jurong Region Line and the Cross Island Line, which are expected to be completed by 2026 and 2030, respectively. These new train lines will make it easier for residents to travel to other parts of Singapore.

Bukit Batok Town, on the other hand, is located near the Bukit Batok MRT station, which is part of the North-South Line. The town is also well connected to major expressways, such as the Pan Island Expressway and the Bukit Timah Expressway, making it easy for residents to drive to other parts of Singapore.

Overall, both estates have excellent transportation connectivity, but Tengah Town may have a slight edge due to its proximity to the upcoming train lines.

Amenities

When it comes to amenities, Bukit Batok Town has a clear advantage over Tengah Town. Bukit Batok Town has a well-established infrastructure that includes shopping malls, supermarkets, hawker centers, sports facilities, and community centers. The town also has several parks and green spaces, such as Bukit Batok Nature Park and Little Guilin.

Tengah Town, being a new estate, is still in the process of developing its amenities. However, the town is expected to have several parks and green spaces, as well as community facilities, such as a community center and a market. Tengah Town will also have a unique feature known as the Forest Corridor, a continuous forest that connects the Western Water Catchment area to the Central Catchment Nature Reserve.

Overall, while Bukit Batok Town has more established amenities, Tengah Town has a unique feature that sets it apart from other housing estates in Singapore.

Housing

When it comes to housing, both Tengah Town and Bukit Batok Town offer a variety of options for residents. Tengah Town has a mix of flats, including 2-room, 3-room, 4-room, 5-room, and executive flats. The flats are designed to be energy-efficient and have features such as smart lighting and air conditioning systems.

Bukit Batok Town also has a variety of flat types, including studio apartments, 2-room, 3-room, 4-room, 5-room, and executive flats. The flats are well designed and have been upgraded over the years to keep up with modern standards.

One advantage of Tengah Town’s housing is that it has been designed with sustainability in mind. The town is built around the concept of the “Forest Town,” with green spaces and parks incorporated into the design. The flats are also designed to be energy-efficient, with features such as solar panels and rainwater harvesting systems.

On the other hand, Bukit Batok Town’s flats have been around for several decades and may require more maintenance than Tengah Town’s newer flats. However, the older flats in Bukit Batok Town have the advantage of being larger and more spacious than some of the newer flats in Tengah Town.

Overall, both estates offer a variety of housing options for residents, but Tengah Town’s focus on sustainability may be a significant advantage.

Community

The community is an essential aspect of any housing estate. Both Tengah Town and Bukit Batok Town have active and engaged communities, with regular events and activities organized for residents.

Bukit Batok Town has a well-established community with several active grassroots organizations. The town also has a variety of community centers and clubs, including a senior citizens’ club and a sports club.

Tengah Town, being a new estate, is still developing its community. However, the town has several community facilities in the works, including a community center and a market. Tengah Town also has several parks and green spaces that can be used for community activities.

Overall, both estates have active and engaged communities, but Bukit Batok Town’s more established grassroots organizations may give it a slight advantage in this category.

Conclusion

In conclusion, both Tengah Town and Bukit Batok Town are excellent housing estates with their own unique strengths. Tengah Town is a new estate with a focus on sustainability and a unique “Forest Town” concept. The estate is still developing its amenities, but its energy-efficient flats and green spaces make it an attractive option for those looking to live in a sustainable community. On the other hand, Bukit Batok Town is an older estate with well-established amenities, including shopping malls, sports facilities, and community centers. The estate’s larger and more spacious flats may also be an advantage for some residents.

Ultimately, the choice between Tengah Town and Bukit Batok Town will depend on individual preferences and priorities. Both estates are well designed and well connected to the rest of Singapore. Whether you prioritize sustainability or established amenities, both estates offer excellent livability and are great options for those looking for public housing in Singapore.…

Tengah Town, located in the western region of Singapore, has been touted as the most highly anticipated housing estate in Singapore. This is not just because it is Singapore’s first smart and sustainable town, but also because of the many unique features that set it apart from other housing estates in the country. From its eco-friendly design to its abundant green spaces, Tengah Town is poised to become one of the most sought-after residential areas in Singapore. In this article, we will explore why Tengah Town is the most highly anticipated housing estate in Singapore.

Smart and Sustainable Design

Tengah Town has been designed with a focus on sustainability and smart technology. The town’s infrastructure includes a network of sensors and cameras that monitor everything from traffic flow to waste management, allowing for better efficiency and cost-effectiveness. The town is also designed to be energy-efficient, with features like solar panels and rainwater harvesting systems that reduce its carbon footprint. All these features are aimed at creating a town that is not only livable but also environmentally sustainable for future generations.

Abundant Green Spaces

One of the most significant selling points of Tengah Town is its abundance of green spaces. The town is designed to be a “forest town,” with lush greenery and biodiversity integrated into its landscape. The town’s planners have set aside more than 700 hectares of land for green spaces, including parks, nature reserves, and a central park spanning over 20 hectares. The green spaces are designed to provide residents with a respite from urban life and to promote a healthy lifestyle. The town’s planners hope that the abundance of green spaces will create a strong sense of community and promote social cohesion among residents.

Excellent Connectivity

Tengah Town is well-connected to the rest of Singapore, making it an ideal location for people who want to live away from the hustle and bustle of the city but still have easy access to amenities. The town is located near major expressways such as the Pan Island Expressway (PIE) and the Bukit Timah Expressway (BKE), making it easy to travel to other parts of Singapore. The town is also serviced by the upcoming Jurong Region Line, which will provide residents with seamless connectivity to the rest of Singapore.

Affordable Housing Options

Tengah Town offers a range of affordable housing options for Singaporeans. The town’s planners have designed a mix of public and private housing to cater to different income levels. The public housing in Tengah Town will include flats with a lease of 99 years, as well as studio apartments for elderly residents. The private housing options in Tengah Town will include executive condominiums (ECs) and flats with shorter lease periods of 99 years or less. The range of affordable housing options in Tengah Town is designed to ensure that everyone, regardless of their income level, has access to comfortable and affordable housing.

Exciting New Amenities

Tengah Town will be home to a range of exciting new amenities that are not currently available in other housing estates in Singapore. These amenities include a car-free town centre, where pedestrians and cyclists can roam freely, and an integrated transport hub that will provide seamless connectivity to other parts of Singapore. The town will also have a “smart” hawker centre that will incorporate technology to improve efficiency and reduce waste. The town’s planners have also set aside space for community farming and urban agriculture, which will allow residents to grow their fruits and vegetables.

Conclusion

Tengah Town is poised to become one of the most sought-after residential areas in Singapore. With its focus on sustainability, abundance of green spaces, excellent connectivity, affordable housing options, and exciting new amenities, it is not hard to see why. The town’s planners have put a lot of thought into creating a livable and healthy environment that promotes a strong sense of community and social cohesion among residents.

In addition to the above features, Tengah Town is also designed to be a pedestrian-friendly town. This means that most of the amenities, such as shops, schools, and parks, are within walking distance of the residential areas. This is a welcome change from the usual Singaporean housing estates, where residents have to rely on public transport or cars to access amenities.

Another exciting feature of Tengah Town is its “smart” technology. The town’s infrastructure includes a network of sensors and cameras that monitor everything from traffic flow to waste management, allowing for better efficiency and cost-effectiveness. This will make the town more sustainable and environmentally friendly, reducing its carbon footprint and contributing to Singapore’s overall goal of becoming a smart city.

Overall, Tengah Town is a unique and innovative housing estate that is set to redefine what it means to live in a sustainable and healthy environment in Singapore. With its focus on green spaces, affordable housing, excellent connectivity, and exciting new amenities, Tengah Town is the most highly anticipated housing estate in Singapore, and it is not hard to see why.…