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.

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.

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 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.

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Thai fish sauce.

 

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Pre-packed Thai Curry ingredients.

 

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There is even a good selection of Vietnamese goods.

 

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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

 

 

Sizzling Thai BBQ

Mookata – pork pan literally in Thai – is a famous thai BBQ cum steamboat cuisine.

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At the centre of the pan is for the barbeque and at the side holds the soup where you can have the traditional Thai steamboat.

Amazing part of this cooking method is that the juices from the barbequed meat will flow into the soup. This will enhance the taste of the soup and steamboat!!

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Location: Golden Mile Complex #01-67
Price: $15-$30 per pax (approximately based the number of diners)
Rate: Very Satisfying – weekends are usually packed during dinner times.

Textile Centre

TC shop details2

 

TC1

Address: 200, Jalan Sultan, 199018
Type of Development: Commercial (Office/Retail)
Tenure: 99 years
District: 07
Year of Completion: 1974

Textile Centre is primarily used for Office rental and sale. Textile Centre is close to Nicoll Highway MRT (CC5) and Lavender MRT (EW11). It is near to several bus stops located at Jalan Sultan, Sultan Plaza – 01239, Jalan Sultan, Opp Textile Centre – 01231, Beach Road, Jalan Sultan Complex – 01411 and Beach Road, Saint John Headquarter – 01419.

Amenities near Textile Centre

Textile Centre is also within walking distance to the stretch of eateries and restaurants located at Jalan Sultan. Residents can head down to the nearby Bugis Junction shopping mall for amenities such as supermarkets, restaurants, banks, cinema, boutique shops, and more.

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.

Textile Centre is accessible via Jalan Sultan and North Bridge Road.

A few feeder bus services are available near Textile Centre. It is also close to several schools, such as Singapore Management University(SMU), Nanyang Academy of Fine Arts(NAFA), and Laselle College of Fine Arts.

For vehicle owners, driving from Textile Centre to either the business hub or the buzzing Orchard Road shopping district takes just above 10 minutes, via North Bridge Road and Bencoolen Street respectively.

Golden Mile Complex

Golden Mile Complex 4, Aug 07.jpg

Golden Mile Complex (Chinese: 黄金坊) 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.

History

In 1966, the Urban Renewal Department of the Housing and Development Board was formed to facilitate greater flexibility and autonomy in comprehensive redevelopment of Singapore’s Central Area. The Golden Mile Complex development was the result of the department’s first Sales of Sites programme in 1967.

The “Golden Mile” refers to the strip of land between Nicoll Highway and Beach Road. It was planned by the Singapore Government as a high-rise spine fronting Kallang Basin. The area used to be occupied by squatters and small marine industries.

Built at a cost of S$18 million and completed in 1973, the 16-storey Golden Mile Complex is one of the early pioneers of integrating multiple operations into a single mixed-use development in Singapore. Today, the complex’s shopping mall houses numerous Thai clubs, shops and eateries, as well as tourist and ticketing agencies for travellers going to Malaysia by bus or coach.

A minor upgrading was carried out on the Golden Mile Complex building in 1983, when tinted glass was added to the Beach Road façade to achieve the desired overall thermal transfer value rating. In 1986, the whole building was redecorated.

In March 2006, the Golden Mile Complex was described as a “vertical slum”, “terrible eyesore” and “national disgrace” by Singapore Nominated Member of Parliament Ivan Png: “Each individual owner acts selfishly, adding extensions, zinc sheets, patched floors, glass, all without any regard for other owners and without any regard for the national welfare.” The residents have also done over their balconies to create an extra room.

The Golden Mile Complex, which is located on a 99-year leasehold site starting from 1969, has been planned to be put up for an en bloc sale. If the sale for the strata-titled mixed development is successful, the building would be redeveloped.

Architecture

The Golden Mile Complex’s shopping mall in the atrium houses numerous Thai clubs, shops and eateries. Thai shops fill up most of the spaces in the complex

The Golden Mile Complex is a commercial and residential development, providing offices, shopping, entertainment services and apartment living within its podium and stepped terrace structure. It houses 411 shops, 226 offices and 68 residential units. The building was designed by Gan Eng Oon, William Lim and Tay Kheng Soon of the Singapore architect firm Design Partnership, now known as DP Architects.

Sited on 1.3 hectares and built to a height of 89 metres (292 feet), the Golden Mile Complex is an exemplary type of “megastructure” described by architectural historian, Reyner Banham. It is one of the few that have been actually realised in the world. Pritzker Architecture Prize laureate Fumihiko Maki had called the Golden Mile Complex a “collective form”. It successfully propagates high-density usage and diversity under a broad range of ideas advanced by the Japanese Metabolist Movement of the 1960s. The complex was designed as a “vertical city”, which stands in contrast to homogenised cities where functional zoning restrains all signs of the latter’s vitality.

Conceived as a prototype for a lively environment, the design of the Golden Mile Complex was intended to catalyse urban development along Beach Road by employing an extruded section that would stretch along the East Coast facing the sea. In terms of public transport and accessibility, the building is serviced from the rear on Beach Road, instead of its frontage with Nicoll Highway, with a continuous pedestrian spine linking all buildings in the Golden Mile of Beach Road. The design was influenced by the linear city concepts of Le Corbusier and Arturo Soria y Mata.

The stepped profile of the Golden Mile Complex offers the occupants of the apartments on the upper floors a panoramic view of the sea and sky. All the apartments have balconies, and two-storey maisonette penthouses crown off the building. The narrowness of this sloping slab form enhances natural ventilation and shades a lofty communal concourse above the podium along Beach Road. The stepped design also reduces the impact of noise from the road traffic. The Golden Mile Complex preceded by several years avant-garde stepped-section buildings which were built in the United Kingdom and Europe.

The lower floors contain offices and a retail mall, located within staggered atria to allow natural light into the heart of the building.