Tag Archives: Beach Road

Rare Commercial investment at District 7

A rare #01 shop along Jalan Sultan/North Bridge Road.

Property Details
Use: Shop  Size: 1997 sqft
Tenure: 99 years since 1970
Ceiling Height: 2.7m
Potential uses*: Financial institutions, F&B outlets, Retails Shops, Pubs, Furnishings and design showflats
(* subject to the approval of relevant authorities)

Sale price S$ 4,500,000 with potential 4% with existing lease.

Size: 1,997 sqft (185.53 sqm)  

Brief Description

This prime #01 shopspace is facing the main road of Jalan Sultan. With substantial human traffic during both office hours and off-peak times, it is an ideal location for F&B, finance, design and other high-value businesses.

With waterpoint installed in the premises, the potential is great for this shopspace. Ideal for business operators as well as investors.

TC shop details

Call David King @ 9477-2121 for more details.

Textile Centre

Textile Centre is a commercial property with residences, located at 200, Jalan Sultan in District 07. Textile Centre is primarily used for Retail and Office rental and sale. Textile Centre is within walking distance to Nicoll Highway MRT (CC5) and Lavender MRT (EW11). It is near to several bus stops along North Bridge Road, Jalan Sultan, Victoria Street and Beach Road.

Textile Centre is accessible via Jalan Sultan and North Bridge Road. Car parking options are available in the building as well as the neighbourhood (including Kampong Glam)

Amenities near Textile Centre
Textile Centre is within walking distance to the stretch of eateries and restaurants located at Jalan Sultan and the conservation hub of Kampong Glam.

Textile Centre is within reasonable distance to Shop N Save, Cold Storage, Sheng Siong and I-Tec Supermarkets. It is also close to The Concourse Shopping Mall, Golden Landmark Shopping Complex, Sim Lim Tower, Bugis Point, Fu Lu Shou Complex, Parco Bugis Junction and Albert Complex for an array of amenities such as grocery and retail shopping, banks and more.

The upcoming Sports Hub and the Kallang Riverside are among the new developments that will spice up the neighbourhood in the years to come.

Advertisements

Beach Road to bask under swamky new developments

The once sleepy Beach Road area is undergoing a dramatic makeover as property giants roll in with ambitious plans for a series of mixed developments.

Three new integrated projects are already on the go, with at least one more to come following the release of a new site in the Government Land Sales programme last week.

The commercial and residential plot, which came from the reserve list, can accommodate a 45-storey complex of 947,223 sq ft.

The 2ha plot will go to tender only if a developer first submits a bid price acceptable to the Urban Redevelopment Authority (URA).

It is estimated to cost from $1.1 billion to $1.4 billion – or $1,300 to $1,400 per sq ft (psf) per plot ratio.

The historic site between Beach and Rochor roads – it was the home of Beach Road Police Station – will bring more office space to an area that has long had a shortage of such space, said experts.

The developer that clinches the site must conserve and restore the former police station building and set aside at least 70 per cent of the new complex for offices.

The development can have a residential portion as well.

“The development of the new site, if it happens, will help complete the development along that strip, offering a more contiguous streetscape,” said Dr Chua Yang Liang, head of South-east Asia research at JLL.

Meanwhile, developers are forging ahead with plans for other mixed-use projects.

South Beach, Singapore’s largest mixed development, will be fully completed by the end of next year, said City Developments this week.

It will feature a luxury hotel and 190 residential units, ranging from 950 sq ft two-bedders to 6,500 sq ft five-bedroom penthouses.

Tenants like Rabobank have already committed to lease 30,000 sq ft of office space.

South Bank plus the DUO by developer M&S and World Class Land’s City Gate, both launched in the past year, will add at least 1.25 million sq ft of commercial space to Beach Road.

“The rejuvenation of this area into a vibrant commercial hub is very important, because of its central location,” said Mr Ong Kah Seng, director of R’ST Research.

“It would be an opportunity cost to the Government and stakeholders in the area to allow the area to remain at status quo and underdeveloped.”

Mr Ong expects the new developments to lift property prices by about 2 per cent.

However, investors will find it hard to get their hands on commercial units.

The few available tend to be in older properties such as Golden Mile Tower and The Plaza, as developers are keen to keep hold of any new space they build.

So far, only City Gate has new strata-titled commercial units. It has sold 62 of its 188 new shop units for an average of $4,202 psf since July, according to caveats lodged with the URA.

But there is certainly money to be made by investors.

A 431 sq ft office at The Plaza, a strata-titled project at the corner of Beach and Ophir roads, changed hands at $1,881 psf in April for a profit of $76,112 in over just 15 months.

Over at Golden Mile Complex, a 441 sq ft commercial unit sold at $1,869 psf last month, for a profit of $273,550. It was bought in July 2007.

Monthly rents at these older developments are estimated at $5.50 psf, while “Grade A” offices in the area could fetch $7.50 psf.

However, commercial rents at upcoming projects could be up to 20 per cent higher once they are completed in the next two to three years, said Mr Ong.

http://business.asiaone.com/news/beach-road-bask-under-swanky-new-developments

South Beach to open after 7 years

SINGAPORE’S largest mixed development will soon be ready for business after seven years of work and frustrating delays.

The 1.65 million sq ft South Beach project in Beach Road, opposite Raffles Hotel, will open in phases over the next 12 months.

Its first corporate tenant arrives early next year.

South Beach is an ambitious project with two towers – of 34 and 45 storeys – comprising an office block, luxury homes and a Philippe Starck-designed hotel.

The development will also have 37,000 sq ft of retail space.

The South Beach, as the hotel is called, will have 654 luxury rooms and direct links to the Suntec City Convention Centre and Esplanade MRT station. It opens its doors in April.

Despite a sluggish property market, the project’s office component has done well.

A third of the 500,000 sq ft of office space has been leased, while a further 50 per cent of leases are being firmed up now, said Mr Aloysius Lee, chief executive of the South Beach Consortium.

TMF Group, a multinational professional services firm, will take up 16,000 sq ft, while Rabobank will occupy about 30,000 sq ft at the North Tower office building.

“The South Beach team is currently in advanced negotiation with parties to take up another 10 per cent, and is confident of hitting 90 per cent occupancy by early 2015,” said Mr Lee.

There will be 190 residential units, ranging from 950 sq ft two-bedders to 6,500 sq ft five-bedroom penthouses with their own swimming pools.

The Non-Commissioned Officers Club building and three former army blocks, the site of Singapore’s first national service enlistment exercise in 1967, will be incorporated into the project to house a 29,000 sq ft private club and hotel facilities.

South Beach is being developed by City Developments (CDL) and Malaysia’s IOI Group.

The project was initially slated for completion in 2012, but was hit by delays.

The consortium that secured the 376,296 sq ft plot in 2007 had originally comprised Dubai World unit Istithmar, United States-based Elad Group and CDL, each holding a one-third stake. But the financial crisis in November 2008 led CDL to defer building plans, after which Elad and Istithmar both dropped out.

Preparations to market the project picked up after IOI Group entered the consortium in 2011. The project’s residential unit prices are still under wraps.

URA releases historic site at Beach Road

Beach Road - location map

Beach Road - aerial view

Developers with an eye to an arresting chapter of Singapore’s history are being invited to bid for the old Beach Road Police Station site.

The 99-year leasehold plot between Beach Road and Rochor Road has been released under the reserve list of the second half 2014 Government Land Sales programme. That means the 2ha plot will go to tender only if a developer initially commits to buy the plot for an acceptable minimum sum.

The successful bidder will be required to conserve and restore the former police station building.

The site can also accommodate a development of up to 45 storeys, with a gross floor area of about 88,000 sq m. About 70 per cent of this will have to be set aside for office use.

JLL head of South-east Asia research Chua Yang Liang noted that while the conserved building could be challenging, it gave a developer a “unique opportunity” to feature a mixed development comprising office, retail and possibly residential spaces at such a site. “It is likely to motivate larger developers to launch a flagship development, leaving their mark on the Singapore skyline,” he said.

He added that as the total cost is large – an estimated $1.1 billion to $1.4 billion ($1,300 to $1,400 per sq ft per plot ratio) – it is most likely to attract the larger property players.

“Foreign developers such as the Chinese firms looking to penetrate into the commercial market may find this site attractive.”

Developers could be interested as office rents in the area, including Suntec City and Marina Square, have been holding up, said R’ST Research director Ong Kah Seng. Leasing demand in the area has been mainly from firms outside the financial industry, including IT and professional services, and mining companies – businesses which are less affected by global economic fluctuations and thus “more resilient” in space requirements and operations.

Apart from nearby mixed development South Beach, which will be completed next year and offer 500,000 sq ft of office space, new office space in the area has been limited for a long time, so demand at this new site could be solid, he said.

However, the site will also have to contend with mixed development Duo, which includes Duo Residences, offices, retail space and a five-star hotel, and will come onstream in 2016, said Century 21 chief executive officer Ku Swee Yong.

“At this cycle of the market, where new demand for retail and office space is weak, I am not sure if it would be triggered,” he said, referring to the sale of the Beach Road site.

http://business.asiaone.com/news/ura-releases-historic-beach-road-site

http://www.ura.gov.sg/uol/land-sales-repository/sites-available/beach-rd-ma.aspx

Shophouses to be auctioned in estate sale

Two freehold properties will be up for auction as a result of an estate sale, said property firm and consultancy Colliers International yesterday.

The properties up for sale, resulting from the owner’s death, are a two-storey conservation shophouse in Beach Road and a terraced house in Devonshire Road.

This comes amid a rebound in the number of mortgagees who have put properties up for auction, as more borrowers default on loans. The home owners find it harder to sell their properties on their own.

But, as a whole, the auction market has not fared as well, thanks to government measures such as the additional buyer’s stamp duty.

So far, $57.6 million worth of properties has gone under the hammer in the first three quarters, well down from the $87.7 million that changed hands over the same period last year, according to earlier reports.

The shophouse, which has tenants, has an indicative price of $5.1 million and a land area of 1,381 sq ft.

Values of shophouses in the area have registered healthy growth, according to data from the Urban Redevelopment Authority. The average transacted price of shophouses in the Kampong Glam district was $4,700 per sq ft (psf) this year, up 20 per cent from a year ago.

The two-storey terraced house to be auctioned also has tenants, and has an indicative price of $4.4 million.

The property’s land area is 1,405 sq ft, with a plot ratio of 2.8, said Colliers.

“The property has a unique facade, which will appeal to a niche group of buyers who appreciate properties that are architecturally distinct,” said Ms Grace Ng, deputy managing director of Colliers.

Both properties will be auctioned on Oct 29, at Amara Hotel.

– See more at: http://business.asiaone.com/news/shophouse-terraced-house-be-auctioned-estate-sale#sthash.k6n5to4Q.dpuf

Kampong Glam: A New Living Heritage

Kampong Glam is known as a cultural and historical zone. The area covers from Beach Road and Crawford Street (North Bridge Road) to Rochor and Selegie. It is also well known for its conservation area, especially for the conservation shophouses which are mostly used for commercial purposes.

Besides commercial, residential areas are also plentiful in the district. It has been observed that Kampong Glam’s investment outlook for the mid to long term will be boosted by plans to develop Beach Road as well as the Ophir-Rochor area into a district of mixed-use projects.

 pic1

pic2

 

 Getting around:

Kampong Glam is accessible by the Bugis and Lavender MRT stations on the East-West Line, as well as Nicoll Highway MRT on the Circle Line. The upcoming Jalan Besar MRT station on the Downtown Line is also nearby.

Shopping malls such as Bugis Junction and Bugis+ is also nearby. Conservation shophouses converted to commercial uses is also a common sight around Kampong Glam.

Boutique hotels such as The Sultan Hotel nestled right in the heart of culturally vibrant Kampong Glam. Additionally, the eclectic mix of uses for the premises in the area, including retail, F&B and the Aliwal Arts Centre, has brought a new lease of life to the area.

Thai Grocery Shopping Experience

Right at the 2nd floor of Golden Mile Complex there is a supermarket called the “Thai Supermarket”. Shoppers can find all kinds of Thai goods ranging from fresh Thai vegetables, Thai instant noodle, drinks to even medicated oil made from Thailand.

wpid-20140723_143108.jpg

Thai fish sauce.

 

wpid-20140723_142123.jpg

Pre-packed Thai Curry ingredients.

 

wpid-20140723_142056.jpg

 

wpid-20140723_143414.jpg

There is even a good selection of Vietnamese goods.

 

wpid-20140723_142736.jpg

Shoppers get to also enjoy some freshly barbecued Thai Sausages and meat sticks. The stall is right next to the entrance of the Thai Supermarket