Category: Mortgage

At the heart of Adelphi Park Estate, located off Upper Thomson Road, are two freehold adjoining shophouses with a guide price of $10.5 million, or $2,665 psf on the floor area—5 and 7 Jasmine Road. Situated on a total site area of approximately 3,650 sq ft, the two-storey shophouses also encompass a combined existing floor area of about 3,940 sq ft.

The shophouses’ 2019 Master Plan zoning allows for commercial usage at the first storey with a gross plot ratio of 3.0 and building height control of up to four storeys. With their convenient location—about 50m away from Thomson Plaza shopping mall and mere minutes from Upper Thomson MRT Station (Thomson-East Coast Line) and Caldecott MRT Station (Circle Line)—these properties offer investors immediate rental income and long-term capital appreciation potential.

For those considering to redevelop the properties, the successful buyer is able to construct a four-storey building with commercial space …

At Marina Gardens Condo a guide price of $63 million, the owners of a four-storey walk-up development with 26-units at 52 to 62H Tanjong Katong Road in District 15 are relaunching the property for tender. Originally asking for $65.5 million when it was put up for collective sale in July of last year, the property failed to attract offers in line with the asking price.

With a land area of about 32,397 ft and a zoning that allows for a gross plot ratio of 1.4 under the 2019 Master Plan, this redevelopment could potentially have 49 residential apartments with an average size of 915 sq ft. Factoring in an estimated land betterment charge of approximately $530,000, the guide price translates to approximately $1,401 psf per plot ratio (psf ppr), potentially lowering to $1,375 psf ppr after factoring One Sophia in a 7% bonus balcony gross floor area.

Terence Lian, head …

The two conservation shophouses at 6 and 7 Perak Road have been put up for sale via tender after the pandemic, with a guide price of $13 million. The properties are well-maintained and require minimal refurbishments with an 11.4m-wide frontage along Perak Road and a built-up area of 5,360 sq ft. The three-minute walk to Rochor MRT Station makes them highly accessible, and the tourism sector recovery should make them attractive to hostel operators. The estimated potential gross rental yield to the future buyer is above 3%. Being zoned for commercial use, no additional buyer’s stamp duty is payable which further amplifies the attractiveness of this tender. The tender will close on May 8 at 3pm.

The two conservation shophouses at 6 and 7 Perak Road, situated in the Jalan Besar/Little India precinct, are up for sale with a guide price of $13 million. With minimal refurbishments required, these properties …

Sandeep Sethi has been appointed division president of work dynamics at JLL in the Asia Pacific region. With a diverse career spanning 27 years, including 10 at JLL, he has a deep understanding of corporate real estate and has forged strong client relationships. In his new role, Sethi will be responsible for providing services addressing the full real estate life cycle to occupiers, including integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management.

In addition, he will also be in charge of growing JLL’s North Asia market share in mainland China and Hong Kong, and report to Susheel Koul, JLL’s CEO for work dynamics in Asia Pacific. Koul made the following comments regarding Sethi’s appointment: “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 …

in response to the market slowdown.

Investment sales in Singapore’s real estate market got off to a “slow start” in the first quarter of 2023, with only $4.2 billion worth of investments recorded. This marks a 61% decrease compared with 1Q2022, and the lowest quarterly total since 2Q2020 when the government had implemented circuit breaker measures in response to the pandemic.

Residential-level deals were steady, totaling to $1.6 billion, including the sale of collective properties such as Meyer Park, Bagnall Court and Holland Tower. Of particular note is the sale of Holland Tower which is the first successful collective sale of a residential property in the Core Central Region since 2021. This could signal the “nascent return” of interest for prime locations, according to Knight Frank Singapore’s Head of Capital Markets (Land & Collective Sale), Chia Mein Mein.

However, a large price gap between sellers and developers continues to challenge …

A site area of over 500,000 sq ft with waterfront access has been launched for sale via an expression of interest exercise at a guide price of $11.3 million. Located at 1 Benoi Road, at the junction of Benoi Road and Pioneer Road, within Jurong Industrial Estate, and approximately 24km from the City Centre, the property is suitable for shipbuilding, ship or vessel repair and maintenance.

Isabel It, Associate Division Director of Huttons Asia, says 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. The east side of the land has a roughly 230m frontage along the waterfront. “The land is generally at an access-road level with a flat contour,” adds It.

Recent transactions of industrial property on Benoi Road according to EdgeProp Research tool, saw a 328,105 sq ft plot at …

Land-starved developers take a punt on Tengah’s industrial land GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) submitted the sole bid for a residential government land sale (GLS) site at Lentor Gardens, with a bid of $486.8 million, translating to a land rate of $985 psf per plot ratio (psf ppr).

The future development, to be a new high-end residential development of around 533 units, will complement the two upcoming developments – Lentor Modern and Lentor Hills Residences, which aim to transform the Lentor Hills estate to a premium residential area.

Mark Yip, CEO of Huttons Asia, notes that the $958 psf ppr bid is the lowest for a land parcel in the Lentor precinct, and is the first residential GLS tender to see only one bid since the tender of the Silat Avenue GLS site in 2018.

The two last residential GLS sites to be sold in …

The West side of Singapore has been an area of great potential for many years. With the government’s continued investment in infrastructure and economic development, the West side of Singapore is poised to become a major hub for the country. In the past few years, there have been a number of projects that have been launched in the West side of Singapore that promise to bring major changes to the area.

The first project is the Jurong Lake District. This project is a master plan to create Bukit Batok EC a vibrant business, residential and leisure district in the West side of Singapore. The area will feature a number of commercial, residential and leisure facilities, including retail outlets, offices, hotels and entertainment complexes. The area will also feature a number of new public parks and gardens, as well as pedestrian-friendly streets. This project is expected to bring in a large …