Tag Archives: arc 380

Kallang-Lavender area sees more interest in commercial properties

The Lavender-Kallang area is gentrifying with a blend of the old and new: shophouses under conservation alongside new commercial developments, including City Square and Kallang Leisure Park.

The mixed-use developments ARC 380 and City Gate will add to the eclectic mix. Rents and prices of commercial and industrial properties have also been given a lift by the two projects and the completion of mixed-use Aperia.

Aperia has two towers zoned for Business 1 (B1) use – meaning it is suitable for light and clean industrial use – with a gross floor area of 72,290sqm, and a three-storey retail podium of gross floor area 14,406sqm. The project is available only for lease and it has already secured commitment for over 50 per cent of its space. It will be home to tenants including Intel, Audi, McDonald’s, Cold Storage and Tim Ho Wan, said a spokesman for Ascendas Reit, which bought Aperia in August.

Another recent entrant is mixed-use CT Hub 2, set for completion next year. It offers about 310 strata B1 units and 41 retail units, with about 186 units sold overall. A further 77 office units have not yet been released.

“Those who bought strata units at CT Hub and CT Hub 2 during 2011 and 2012 are likely to be investors that switched over from the residential sector, when it was slapped with several rounds of cooling measures,” said Ms Elaine Chow, executive director and head of research at Chestertons Singapore.

But given patchy manufacturing growth, end-users and small and medium-sized enterprises are not likely to fork out high rentals for a smallish industrial unit, she said. “Investors may need to review their rental and yield expectations for these newly completed strata industrial units,” she added.

Still, demand has been healthy enough in the Kallang planning area for rents to rise from $5.50 to $6.50 per sq ft per month for new B1 industrial spaces, said Mr Nicholas Mak, executive director at SLP International.

Demand for CT Hub 2 could also have contributed to the profitable subsale deals at the project in 2012 and 2013, which had about 18 to 22 per cent per annum annualised profit margin, he added.

“Industrial real-estate prices are likely to remain steady in the area, with no new supply of industrial land site for sale here in the second-half 2014 industrial government land sales programme.”

Over the past year, the median price of shop units in the Kallang planning area had declined steadily until City Gate, launched in the third quarter this year, pushed the quarterly median price up from $1,084 in the second quarter to $3,824 in the third, he said.

“Prices of retail space are likely to remain healthy due to limited supply and steady demand.”

Ms Chow added that investor interest in commercial properties in the area is strong, evident when all strata office units at ARC 380 were sold out earlier this year.

– See more at: http://business.asiaone.com/news/kallang-lavender-area-sees-greater-commercial-interest#sthash.CXuRcPWX.dpuf

Best-Selling Commercial Units in Districts 7 and 8 for the 1st Half of 2014

No.1 ARC 380 (32 units sold)

ARC 380

 

Location: 380 JLN BESAR

Units sold: 32 units (31 OFFICES, 1 SHOP)

$Psf sold: S$2,366 – S$5,880

Transacted $ per unit: S$1,695,700 – $6,468,700

Tenure: FreeHold

Average Floor Square Feet per unit sold: 971psf (334psf – 2,734 psf)

Arc 380 consists of 144 strata titled office units and 23 strata titled retail shops of freehold tenure. As the rare Freehold Offices/Shop @ Jalan Besar. Arc 380 is strategically located in a prime location with constant flow of both human and vehicular traffic in huge volumes. Bendemeer MRT (Downtown Line) will be within minutes walk.

No.2 SUNSHINE PLAZA (11 units sold)

sunshine plaza

Location: 91 BENCOOLEN ST

Units sold: 11 units (7 OFFICES, 4 SHOPS)

$Psf sold: S$1,867 – S$4,919

Transacted $ per unit: S$1,120,000 – $2,277,000

Tenure: 99 YEARS FROM 19-MAR-1997

Average Floor Square Feet per unit sold: 577psf (248psf – 1098 psf)

Sunshine Plaza is a 99-year Leasehold commercial property located at 91, Bencoolen Street, 189652 in District 07. Sunshine Plaza is primarily used for Office rental and sale. Sunshine Plaza is close to Bras Basah MRT (CC2) and Bugis MRT (EW12). It is near to several bus stops located at Middle Road, Opp Prime Centre – 07571, Bencoolen Street, Aft Prinsep Link – 04029, Bencoolen Street, Fortune Centre – 07518 and Selegie Road, Peace Centre – 07011.

 

No.3 THE PLAZA (7 units sold)

SAMSUNG CSC

SAMSUNG CSC

 

Location: 7500A BEACH RD

Units sold: 7 units (7 OFFICES)

$Psf sold: S$1,649 – S$1,991

Transacted $ per unit: S$658,000 – $1,438,000

Tenure: 99 yrs from 03-SEP-1968

Average Floor Square Feet per unit sold: 527psf (334psf – 872 psf)

The Plaza is a 99-year Leasehold commercial property located at 7500, Beach Road, 199591 in District 07. The Plaza is primarily used for Office rental and sale. The Plaza is close to Nicoll Highway MRT (CC5), Bugis MRT (EW12) and Promenade MRT (CC4). It is near to several bus stops located at Beach Road, Plaza Parkroyal – 01529, Beach Road, Opp Plaza Parkroyal – 01521, Beach Road, The Gateway – 01519 and Beach Road, Opp The Gateway – 01511

No.4 GOLDEN MILE COMPLEX (5 units sold)

Golden_Mile

Location: 5001 BEACH RD

Units sold: 5 units (4 OFFICES, 1 SHOPS)

$Psf sold: S$905– S$1,408

Transacted $ per unit: S$180,000 – $1,750,000

Tenure: 99 yrs from 04-AUG-1969

Average Floor Square Feet per unit sold: 607 psf (183 psf – 1281 psf)

Golden Mile Complex  is a high-rise commercial and residential building on Beach Road in Kallang, Singapore. The building was formerly known as Woh Hup Complex. The complex has 411 shops and 500 parking places.

Golden Mile Complex is primarily used for Office space rent and sale. Golden Mile Complex is close to Nicoll Highway MRT Station (CC5), Bugis MRT Station (EW12) and Lavender MRT Station (EW11). It is near to several bus stops located at Golden Landmark, Beach Road – 01429, opposite Golden Mile Complex – 01421 and at St.John Headquarters – 014119