All posts by David King

Your ideal partner in getting your dream homes. 衣食住行您本需 唯有屋檐为首居 选屋应当倾全心 家乐融融安乐栖。 '您'是售屋与搜屋过程的最重要一环。 我们的服务方针是: - 适时与您报告服务过程 - 全程经历与您密切联络 - 新颖有效的行销服务予您 - 专业的态度赋予您 客户‘您’们的好评就是此服务方针的最佳见证。 许许多多的屋主与买家都因此收益。此时,我们 虽然专注与加东/东海岸一带的房屋公寓的搜售出租, 我们房仲服务也在各个地区的楼房都颇有经验。如市区、乌节路、 武吉知马路、淡滨泥、巴西里、榜鹅的房屋、公寓、商业不动产和组屋。 如今我们正在销售的房屋包括 Reflections @ Keppel Bay, Costa Rhu, Pebble Bay ,Tanjong Rhu homes, Mountbatten, Tanjong Katong, Joo Chiat, East Coast, Frankel 和Siglap 的公寓和有地住宅。 若要找个超出您期待的房仲,不如拨电9477-2121 与我联络。 你会满意的。 服务至上,房屋之赞。 Of all things that are essential to U Over all matters is a roof over U Finding a home that belongs to U Brings joy and harmony to Ur kin and U. 'U' is the most important person in every home search and sale. Seeking to exceed expectations of 'U', David King adopts the 4-step KING service approach: Keep U updated of home sale/search progress Involve U throughout the home sale/search experience Novel ways of marketing and home search to U Give the professionalism due U. A dedicated realtor, his numerous favorable testimonies from U clients is a proof many homeowners and home searchers have enjoyed the fruits of the service mantra. Currently focusing on landed homes and condominiums in Katong and East Coast, David King has rich experience in serving U in other areas as well such as Orchard, River Valley, Bt Timah and Upp Bt Timah, Farrer Road, Telok Blangah, Tampines, Tanah Merah, Pasir Ris, and Punggol. Properties involved included landed properties, condominiums, apartments, commercial buildings and HDB flats. Among the many properties he is marketing includes condominiums in Reflections @ Keppel Bay, Costa Rhu, Pebble Bay and other Tanjong Rhu homes, and Katong landed houses in Mountbatten, Tanjong Katong, Joo Chiat, East Coast, Frankel and Siglap. Looking to find a realtor that exceeds Ur expectations? Call David King @ 9477-2121 a non-obligatory discussion, and you will know you have found the right realtor. Art of Service, Craft of Real Estate

Raffles Place commercial building seeking new owner

Chevron House, a commercial building located near the entrances to the Raffles Place MRT station, is reportedly available for sale. The building owner, Deka Immobilien GmbH — a unit of DekaBank Group of Germany — bought the premises in 2010 for around S$420M. The previous owner was a Goldman SachGroup-managed property fund.

The market price was understood to be S$700M based on anonymous sources. Recent prominent completed commercial deals includes:
– S$2.6B bid led by Malaysian IOI on a Marina Bay white site
Sale of Sime Darby Centre in Bt Timah area by Blackstone to Tuan Sing
Purchase of Wilkie Edge from Capitaland by Lian Beng Group

Chevron House is a skyscraper building in CBD housing Chevron Corp. The 262,650 sqft building consists of a 4-storey retail podium with a basement as well as a 29-storey office block.

Woodleigh site attracts top bid of $700.7M

A unit of Chip Eng Seng Corp and Unique Real Estate has put in the top bid for a plum site in Woodleigh Lane. Unique Real Estate is a joint venture of Heeton Holdings and KSH Holdings units.

The 99-year leasehold site launched on May 30 under the confirmed list for the first half of this year drew a top bid of $700.7 million from CEL Unique Development, which is 60 per cent owned by Chip Eng Seng Corp, and 40 per cent by Unique Real Estate.

The Government land sales site tender attracted 15 bidders. The land is next to Woodleigh MRT station, adjacent to Bidadari New Town and near amenities such as Nex shopping mall. The 19,547 sq m site has a maximum gross floor area of 58,641 sq m.

The selling price of the proposed development to expected to range from $1,720 psf to $1,800 psf and could face some competition from the mixed-use site in Bidadari estate linked to Singapore Press Holdings and Kajima Development.

Top Japanese Shipping lines taking up Marina One space bigly

OCEAN Network Express is said to be taking up some 50,000 sq ft of office space at Marina One. The joint-venture company of Japan’s “Big Three” shipping lines, is a consolidation of the container shipping businesses of Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK Line). It includes their worldwide terminal operation businesses, except those in Japan. Ocean Network Express is planning to use the new office spanning 1½ floors as its regional and global headquarters.

Macquarie Bank, which is now at Marina Bay Financial Centre Tower 2, is also said to be in advanced negotiations for some 50,000 sq ft of office space at Marina One.

The two new office towers at Marina One, an integrated development in downtown Marina Bay, are due to be completed soon. Developed by M+S, Marina One’s 1.88 million sq ft Grade-A office space is said to be about 70 per cent pre-leased ahead of its completion.

The first-half of 2017 saw a good volume of pre-committed space in the upcoming premium developments such as Marina One and UIC Building in the CBD.

At Guoco Tower of Tanjong Pagar Centre, which is already 90 % committed, Thai rubber group Sri Trang Agro-Industry Public Company is moving into close to 6,000 sq ft of office space on the 25th floor in early December, letting go of its existing 5,100 sq ft office at One Raffles Place where it has been operating for more than 10 years.

Grade-A CBD rents rose by 1.7 % in Q2 2017 to about S$8.51 psf pm, the first increase in nine quarters, led by a 5.8 % rise in premium office rents in Marina Bay.

The Urban Redevelopment Authority is slated to release the second-quarter real estate statistics on July 28.

Super Penthouse in Singapore for S$100M

Who will be buying the most expensive apartment or “bungalow in the sky” in Singapore? The asking price for a new three-storey Singapore penthouse, complete with a private pool on the 64th floor, has reached more than $100 million. This amount of money can well easily buy one a few good-class bungalows (GCBs) in District 9/10.

The Wallich Residence’s penthouse is in the tallest building in Singapore, the island of well-heeled stability that attracts the super-rich from its less-developed South-east Asian neighbours, as well as multi-millionaires from mainland China.

It will test the endurance of demand for luxury property in the city-state – the part of the market that has taken the biggest hit from measures aimed at cooling down prices in recent years.

Prices for luxury homes in Singapore have fallen 15-20 % from a 2013 peak. However the recent events has cause optimism among market insiders to foresee a turnaround – at least at the top end of the market – and is forecasting a 3-5 % increase in luxury prices this year, citing demand from both locals and foreigners who feel the market is bottoming out.

The volume of transactions in the first four months of the year in Singapore’s core central region was 35% higher than in the same period last year. The Core Central Region includes the popular areas among wealthy foreigners — the Orchard Road shopping area and Sentosa island.

Buying by foreigners has picked up since the start of the year at the developer’s high-end Leedon Residence project, near the 150-year-old Singapore Botanic Gardens. GuocoLand is part of Malaysian conglomerate Hong Leong Group, headed by billionaire Quek Leng Chan.

The recent tightening of property market controls in places like Hong Kong and Australia played a part in attracting foreign demand to Singapore’s luxury property this year. While prices in Hong Kong tripled and Sydney’s doubled over the past decade, Singapore prices rose just 29 %.

City Developments (CDL), one of the largest Singapore developers, also said the average sales price at its high-end Gramercy Park project has risen to more than $2,800 per sq ft in recent months, up 8 % from a year ago, and foreign buyers accounted for three-quarters of the project so far.

One may note though that the Singapore’s residential market has fallen for 15 straight quarters to log its longest losing streak since official records began in 1975. Analysts expect a bottoming of prices in the year 2017.

Singapore introduced property price cooling measures to curb speculation for the past 7 years. Some measures were relaxed slightly this year but the authorities announced that there would be no more rolling back of the remaining measures for now.

More information of the Penthouse can be found at the following link.
https://www.guocoland.com.sg/Properties/SG/Resources/WR/Wallich_PentHse.pdf

Golden Shoe Carpark’s billion-dollar redevelopment plan finally unveiled

A highly anticipated redevelopment project in Raffles Place, touted for years, was finally unveiled over the week by the press. A 51-storey mixed-use development – slated for completion in the first half of 2021 – will be built on the site. It will comprise office space, serviced residences, a multi-storey carpark, a food centre and shops.

The redevelopment will be led by CapitaLand in a joint venture (JV) for an estimated cost of $1.82 billion. The JV partners are: CapitaLand, CapitaLand Commercial Trust (CCT) and Mitsubishi Estate Co (MEC).

Of the $1.82 billion development cost, about 52.6 %, or $957.8 million, was attributed to charges for the intensification of land use and other land-related costs.

At 280m high, it will be among the tallest buildings in the heart of the Central Business District. The other highlights of the plan include:

– 635,000 sq ft of net lettable area
– 29 floors of Grade A office space
– 299 serviced residences over eight storeys managed by CapitaLand’s The Ascott – five floors of carpark space
– 12,000 sq ft of retail space at ground level
– a shared four-storey-high “Green Oasis”, where tenants can hold meetings or other activities amid lush greenery
– a new food centre owned by the government, which will house former stallholders of Market Street Food Centre in Golden Shoe Car Park on the second and third levels of the new building’s podium. In the meantime, starting from 1 Aug, the stallholders will be at an interim centre next to Telok Ayer MRT station
– flexible offices and co-working spaces.

J Gateway for rent at $2.98K

For Rent  –  J Gateway (D22)

S$ 2,980 / month  Negotiable   |  S$ 4.01 psf   |  743 sqft (69.03 sqm)   |  Partially Furnished    |  2 Beds   |  2 baths

Beautiful unblocked home in the most happening place in Singapore. High floor with captivating view of the Singapore South East, this is a luxury stay for the well discerned. Partial furnished. Suitable for couples and young families. Call for a viewing appointment. David 94772121

http://www.sgbayhomes.com/20620833

 

Farrer Park Hotel going though EOI

RB CAPITAL is considering sale of its 20-storey Park Hotel Farrer Park, after receiving unsolicited offers since the hotel began operations just about a month ago from the region – from both high net worth individuals as well as hotel developers/owners. RB Capital developed the project on a 99-year-leasehold site that it clinched at a state tender in 2012. The balance lease on the site is 94 years.

Most of the rooms in the hotel, directly connected to Farrer Park MRT Station, are about 22 sq m with some going up to 27 sq m. The hotel is part of RB Capital’s Farrer Square mixed development that received Temporary Occupation Permit in April. Another tower, 12 storeys high, that houses 42 medical suites has been mostly either sold or leased.

There is also a retail space about 3,584-sq-ft on the ground floor of the project facing the Farrer Park MRT Station entrance, partly leased to a restaurant. The retail space is also available for sale to the potential buyer of the hotel.

Past deals of similar type includes that for Grand Park Orchard in 2013, which was also available with either vacant possession or a management agreement. Its S$1.16 billion sale price included a substantial retail component; indicatively, the 308 hotel rooms were priced at S$460 million (translating to S$1.5 million per key). The seller in that transaction, Park Hotel Group, continues to manage the hotel. Grand Park Orchard is freehold and in the prime Orchard Road shopping belt.

The Westin Singapore in Asia Square in the financial district is another example that went for S$468 million or S$1.5 million per room in late 2013. The balance lease on the site at the time was about 93 years.

These two benchmarks are for the higher spectrum of five-star hotels due to their location, facilities and/or tenure, and one has to adjust for these various factors to estimate the price for this particular property.

Kishin RK, chief executive of RB Capital, said the 300-room hotel was recently valued at about S$390 million, or S$1.3 million per room. However they are not quoting a specific price but will let the market determine the true price of this upscale hotel through a global expressions of interest (EOI) exercise. JLL Hotels & Hospitality Group has been appointed the exclusive agent. Buyers will have the choice of buying the hotel with vacant possession, or with a management contract with Park Hotel Group.