Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil

At the junction of Upper Thomson Road and Jasmine Road lies two freehold connecting shophouses, which are now up for sale via expression of interest (EOI) with a guide price of ten and a half million dollars. This equates to two thousand six hundred and sixty-five Singapore dollars psf for the floor area.

Standing two-storey tall, the properties occupy a total area of three thousand six hundred and fifty square feet and boast an existing floor area of thirty-nine hundred and forty square feet. The area is designated for both residential and commercial use, with a gross plot ratio of three, and a building height limit of four stories, in line with the 2019 Master Plan.

With an array of amenities and services in close proximity, the shophouses are just fifty metres away from the local shopping mall, and a minute’s walk from Upper Thomson MRT Station, with the Caldecott …

Collective sale of Tanjong Katong development relaunched at $63 mil

At 52 to 62H Tanjong Katong Road, the owners of a 26-unit walk-up development have relaunched the property for tender at a guide price of $63 million. The four-storey site, located in District 15, first had an asking price of $65.5 million last July and generated several offers below the figures.

Spread over 32,397 sq ft, the property has a land rate of $1,401 psf ppr – including an estimated land betterment charge of $530,000. This rate could be further lowered to $1,375 psf ppr once factoring in an added 7% bonus balcony floor area.

With a gross plot ratio of 1.4, the development has the potential to yield approximately 45,356 ft of gross floor area after improving the site. This could potentially have 49 residential apartments with an average size of 915 sq ft.

The collective sale property is situated in a desirable location. It enjoys a 10-minute drive …

Two shophouses at Perak Road up for sale at $13 mil

Reinvigorated interest in tourism, given the global pandemic situation, has spurred the sale of two conservation shophouses at 6 and 7 Perak Road in Singapore. As they are zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties. With an expected guide price of $13 million, this works out to $2,425 psf on the total floor area.

The two-storey shophouses, with mezzanine space and boasting a build-up area of 5,360 sq ft and occupying a land area of approximately 2,870 sq ft, have an 11.4m-wide frontage along Perak Road. Additionally, the properties have approval for usage as a backpackers’ hostel and are a mere three-minute walk from Rochor MRT Station.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, notes that these well-maintained structures require minimal refurbishments and, being located in the Little India/Jalan Besar area, enjoy strong rental demand.

With …

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Sandeep Sethi has been appointed as Division President of Work Dynamics in Asia Pacific by JLL. Sethi will bring 27 years of corporate experience, 10 of which were with JLL, to the role. He is currently the Managing Director and Head of Work Dynamics for West Asia.

As Division President, Sethi will be responsible for providing integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management for occupiers, along with overseeing services delivered to clients in North Asia, and developing and growing JLL’s North Asia market share in Mainland China and Hong Kong.

Under his new role, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific. Koul commented; “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating …

JLL promotes Sandeep Sethi to Asia Pacific division president for work dynamics

Sandeep Sethi has been appointed as the Division President of JLL’s Work Dynamics in Asia Pacific. Sethi previously served as Managing Director and Head of Work Dynamics for West Asia, where he was responsible for managing over 160 million square feet of office space across 1,500 client sites in India, Sri Lanka, Mauritius and Bangladesh.

In his new role, Sethi will expand his portfolio to include North Asia, overseeing services provided to clients, and growing JLL’s North Asia market share in mainland China and Hong Kong. Based in Gurgaon, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific.

Commenting on his appointment, Koul said: “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating our people to serve our rapidly diversifying client base across …

Shipyard at Benoi Road for sale at $11.3 mil

The property at 1 Benoi Road in Singapore’s Jurong Industrial Estate has been launched for sale at an expression of interest (EOI) exercise and a guide price of $11.3 million. This site of a shipyard has a site area of over 500,000 sq ft with waterfront access.

Located at the junction of Benoi Road and Pioneer Road, it’s approximately 24km from the City Centre and nearby housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Additionally, the property has easy access to the island’s highways – the nearby Ayer Rajah Expressway and Pan-Island Expressway. Joo Koon MRT Station is just a five minute drive away.

Associate Division Director of Huttons Asia, Isabel It, describes the plot as regular in shape and possessing a corner frontage of 255m on Benoi Road and Pioneer Road with an average plot depth of 213m. The land also has a …

GuocoLand sole bidder for Lentor Gardens GLS site at $985 psf ppr

Sold! Singapore residential land prices soar, setting new GLS records

The 99-year leasehold residential government land sale (GLS) site at Lentor Gardens closed today with only one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr).

According to Mark Yip, CEO of Huttons Asia, the bid of $958 psf ppr is the lowest for a land parcel in the Lentor precinct and it is also the first residential GLS tender to receive only one bid since the tender of the Silat Avenue GLS site in 2018. The site was launched as the 1,074 unit Avenue South Residences in September 2019 and is now fully sold.

The last two residential GLS sites to be sold in Lentor were in Lentor Central and Lentor Hill …

The Myst Condo Bukit Timah by City Developments Limited

The Myst Condo is a fresh development located in the centre of Bukit Panjang and Cashew created by City Developments Limited (CDL Aries), has obtained the rights to two adjacent plots at 798 and 800 Upper Bukit Timah Road in Northwest Singapore’s Tan Chong industrial park. Spanning 16,620 square metres (178,900 square feet), the property is zoned for residential use with a plot ratio of 2.1, making it possible for the developer to build a project of up to 24 storeys in height.

In recent years, the Bukit Timah area has seen a number of initiatives to revitalise the neighbourhood. This includes the Railway Corridor project near The Myst Condo, which will transform existing railway tracks into a vibrant, communal area, as well as the Beauty World rejuvenation scheme that envisions the emergence of a green urban village. Both of these projects will work to bolster connectivity and add more …

Singapore office rents see subdued growth in 1Q2023: JLL

Grade A office rents in Singapore’s CBD rose in the first quarter of 2023, according to data by real estate consultancy JLL. Despite this, the growth was slower than that seen in the previous quarter, as uncertainty surrounding the global economic outlook continues to hamper demand for office space.

Large space users are mostly hesitant when it comes to expansion or relocation plans, while the majority of leasing activity has been driven by small to medium-sized space occupiers with immediate requirements. Examples of such occupiers are German insurer Munich Re, who took two floors at 18 Cross Street for their new office, and Corney & Barrow, who relocated to Hub Synergy Point.

Despite the currently cautious attitude, tight supply of Grade A office space saw some occupiers seize the chance to upgrade to better office spaces at new developments. Prominent examples include Guoco Midtown, which received its Temporary Occupation Permit …

Why Bukit Timah is a Highly Sought After Location to Stay

Bukit Timah is a beautiful and vibrant district located in the central region of Singapore. It is named after the highest hill in the country, which is also located within the district. Bukit Timah is a popular residential area for both locals and expats due to its convenient location, greenery, and excellent schools. Here are some of the highlights of Bukit Timah in 1000 words:

Geography and History:

Bukit Timah is located in the central region of Singapore, bordered by Bukit Batok to the west, Clementi to the south, and Novena to the east. It covers an area of approximately 17.53 square kilometers and is home to a population of around 80,000 people.

The district is named after Bukit Timah Hill, which stands at 163.63 meters and is the highest natural point in Singapore. The hill is located within the Bukit Timah Nature Reserve, which covers an area of 163 …