Category Archives: Central

Central Area includes Core Central Region and Rest of Central Region

District 7’s new gate to the city

District 7 is getting  a lot of buzz recently. The impending launch of the City Gate mixed development in Jalan Sultan is drawing attention back to the Kampong Glam district.

Its charm as a historical and cultural zone may give it a head start over many areas but it is its location – on the edge of the city centre and close to retail and entertainment amenities – that is its strongest suit, property consultants said.

Plans to develop the surrounding Beach Road and Ophir-Rochor corridor into a district of mixed- use projects will underpin the investment outlook in the mid- to long term, they said.

“The location on the city fringe translates into easy convenience when commuting to the premier shopping belt of Orchard Road or the central business district,” said Ms Chia Siew Chuin, director for research and advisory at Colliers International.

The 30-storey City Gate is on the site of the former Keypoint, which was acquired by World Class Land for S$360 million from Frasers Commercial Trust in 2012.

The 99-year leasehold project in Beach Road will feature 311 flats – one- and two-bedroom units of 431 to 570 sq ft, two-bedroom and three-bedroom dual-key units of 678 to 1,066 sq ft and one- to four-bedroom penthouses that range from 484 to 1,819 sq ft.

It will also have 188 commercial units, ranging from 280 to 3,735 sq ft.

Residential units are expected to go for S$1,900 to S$2,000 per sq ft (psf) and commercial units could sell for S$4,000 to S$5,000 psf, marketing materials show.

This makes it cheaper than the mixed development DUO in Ophir Road, which was launched by developer M+S at an average selling price of S$2,000 psf last November. DUO is in the city centre, unlike City Gate, noted R’ST Research director Ong Kah Seng.

Two 829 sq ft units at the 360-unit Concourse Skyline, developed by Hong Fok Land, went for S$1,810 to S$2,075 psf in the fourth quarter last year. But 101 units remain unsold since the completed project was launched at about S$1,590 psf in 2008.

Ms Christine Li, research head at OrangeTee, said the new supply of homes from City Gate could place pressure on the developer to lower prices at Concourse Skyline to shift units, especially with the cooling measures in place.

Older developments in the area include the 132-unit Textile Centre, where four units have sold at median prices ranging from S$911 to S$926 psf over the past year.

At The Plaza – a strata-titled 32-storey mixed-use building owned by UOL Group – two units changed hands at a median price of S$1,257 psf a year ago.

In this year’s first quarter, 13 leases were signed at The Plaza at a median rent of S$4.06 psf, said Mr Ong. He felt that owners of units in the new developments can expect strong rental demand, saying “this is a convenient location”.

Highly accessible

The location on the city fringe translates into easy convenience when commuting to the premier shopping belt of Orchard Road or the central business district. – Ms Chia Siew Chuin, of Colliers International

– See more at: http://business.asiaone.com/news/unlocking-the-gate-the-citys-charms#sthash.IQa1Tewc.dpuf

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Sports Hub free usage while time allows

From late June 2014, the Singapore Sports Hub will unveil the Experience Sports Programme to the community – starting with an introductory period from 28 June till 30 July before the official programme kicks-off in August 2014.

This is an all inclusive in-house community programme that will allow everyone to participate for FREE.

From learning to play a new sport, to having a go at fun try-outs or just letting the kids jump around in the Experience Sports Village, there’ll be nothing short of fun activities for everyone at the Singapore Sports Hub every weekend and occasionally on weekdays.​

With the guidance of certified coaches, the Sports Hub will provide fun learning experiences for all. Their “Learn To Play” programme is designed for all ages, all sporting abilities and for all proficiency levels.

Whether you’ve ever held a badminton racquet, just played for fun at the playground or can hit a mean cross-court smash, Experience Badminton, is for you!

If you had always wondered what sand feels like in your face, Experience Beach Volleyball can be the right tonic for your Saturday.

Every Saturdays and Sundays, all year round, the Singapore Sports Hub will have a new sport for you to Experience.

See more details from the Sports Hub Home page. http://www.sportshub.com.sg/community/Pages/experience-sports.aspx

Conservation properties for sale in D7 and D8

in today’s local media news, it was reported that a hotel, comprising three shophouses along Jalan Klapa, off Victoria Street in the Kampong Glam Conservation Area has been put up for sale with an indicative pricing of $17-18 million. Located at 9, 11 and 15 Jalan Klapa, the shophouses are on total land area of 4,275 sq ft; the site has a balance lease term of about 92 years. The gross floor area is estimated at 7,911 sq ft. The site is zoned for commercial use but is permanently approved for hotel use. The shophouses have 15 themed rooms (with an average size of around 215 sq ft), spanning across two storeys and a mezzanine level, a cafe lounge and a small pool. The indicative pricing translates to a net yield of around 2-3 per cent, based on the current income stream from rooms as well as food and beverage operations.