Tag Archives: District 7

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.

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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

Resale volumes of condos plunge in Q2 ’14

In yet another sign of a stalemate between buyers and sellers, resale volumes of private condominiums have fallen to levels last seen during the Global Financial Crisis, with the bloodbath of declines seen splattered islandwide.

While sellers with strong holding power seemed unwilling to let go of their units at much-lower prices, District 18 in the east and District 27 in the north appear to have held up well in resale volumes for the second quarter.

District 18, which comprises Tampines and Pasir Ris, saw resale volumes inch up 5.6 per cent in the second quarter this year to 57 transactions compared to the year-ago period before the total debt servicing ratio (TDSR) kicked in on June 29, 2013.

Resale volumes of private condos in District 27, which covers Yishun and Sembawang, were flat at 18 transactions in the second quarter, compared to the same quarter last year.

Their resilience came against a plunge in resale volumes islandwide.

Total resales of private condos stood at 1,314 units in the second quarter, accounting for 31.9 per cent of all private non-landed residential transactions. This is moderately higher than the 29.9 per cent in the same quarter last year but lower than the 40.9 per cent in the fourth quarter of 2012.

District 7 comprising Middle Road and Golden Mile and District 19 covering Serangoon Garden, Hougang and Punggol saw the biggest falls in resale volumes across districts. Transactions in District 7 fell to two units in the second quarter from 12 in the second quarter last year while that in District 19 plummeted to 57 units from 164.

The comparisons of resale volumes before and after TDSR are based only on caveats lodged, which typically represent some 80 per cent of the market. This illustration excludes new sales as they are driven mainly by new launches that may not have taken place in certain districts. The heterogeneity of property units also prevent direct comparisons on price movements over time without controlling for quality differences through constructing an index, a weighted scheme or tracking repeat sales.

Nicholas Mak, executive director of SLP International, noted that much of the resales caveats were for family-size units. “The marketing activities of new projects in that district could have attracted buyers, who may have later decided to buy resale properties as they were cheaper in per square foot (psf) terms.”

New launches in District 18 included City Developments’ Coco Palms in Pasir Ris, which has moved over 560 units at a median price of S$1,020 psf since its launch in May. MCC Land managed to sell more than 100 units at The Santorini in Tampines since its launch in April at a median S$1,113 psf, according to URA’s developer sales data. In comparison, median prices of resale units in District 18 stood at S$897 psf in the second quarter.

The lack of new launches in certain districts could also have the converse effect on the resale market – as seen in Districts 19 and 12 (Balestier, Toa Payoh, Serangoon), Mr Mak added.

R’ST Research director Ong Kah Seng noted that buying interest for homes in Pasir Ris is supported by well-tested leasing demand, especially from the Changi Business Park. The decentralisation of the banks’ non-core back-office operations to the business park and increased foreign professionals in the technology sector have also expanded the potential tenant pool in the eastern part of Singapore, he noted.

At the other end of Singapore, District 22 (Jurong) also registered a marginal 4.3 per cent year-on-year drop in resale transactions of private condos in the second quarter, possibly finding some support from renewed interest in the area given URA’s masterplan to transform Jurong Lake District, consultants observed.

All transactions (new sales, resales and subsales) involving private condos have slumped 40.7 per cent year-on-year in the second quarter to 4,118 – similar to the levels last seen during the 2008-2009 Global Financial Crisis.

Based on the URA property price index for non-landed homes, prices of private condos transacted in the second quarter have fallen to levels last seen in the fourth quarter of 2012. Prices in the Core Central Region (CCR) fell by a larger magnitude to a level similar to that in the fourth quarter of 2010.

OrangeTee head of research and consultancy Christine Li noted that the drop in foreign purchases due to the additional buyer’s stamp duty (ABSD) has hurt the CCR market segment, as foreign buyers make up a significant portion of this segment.

“Secondly, the implementation of loan restrictions such as loan-to-value limits and the TDSR framework have hurt properties with high quantums,” she added. “As such, CCR properties have not held up as well as RCR (Rest of Central Region) and OCR (Outside Central Region). This trend is likely to persist until current cooling measures are tweaked.”

But given the exuberant run-up in property prices since the second half of 2009, sellers who sold their units recently are unlikely to have suffered a loss, though they could be making less profits than if they had sold their units last year, consultants noted.

A random sampling by SLP International on resale transactions in the second quarter showed that most of the sellers did not incur losses in the resale market because a majority of them bought their units more than three years ago when the prices were cheaper and they did not have to pay the seller’s stamp duty for properties that they have held for more than four years.

BT_20141007_LKMAP_1304586 BT_20141007_LKMAP7A_1304814

http://www.btinvest.com.sg/dailyfree/resale-volumes-private-condos-plunge-20141007/

TOP 5 MOST EXPENSIVE APARTMENTS SOLD BY VALUE IN DISTRICT 7 & 8 FOR THE 1ST HALF OF 2014

No.1 DUO Residences (S$4,170,000)

pic4

Location: 1 Fraser Street

Highest $/unit sold: S$4,170,000 ($S2,421psf)

Tenure: 99 yrs from 2011-Jul-1

Floor Square Feet per unit sold: 1,722psf

DUO Residences is an extraordinary iconic development soon to highlight the busy sparkly streets of Bugis, Singapore. Duo Residences will stand attractively as a prestigious mixed development comprising of elegant residence units, grade-A offices, an outstanding 5-star hotel and a wide array of retail galleries, all within the embrace of one welcoming environment.

Soon to greet you on 2017, this lofty and towering icon is set to transform the Bugis skyline with its 660 residential luxury units, along with a 21-storey Grade-A offices. Duo Residences also comes with an exalted 5-star hotel and an immense retail space close to 80,000 square feet, all embraced within a park-like environment. It is recognized to be the natural extension from the established convention, office and hotel hub at Marina Center. Choose from our unit types (1-Bedroom, 2-Bedroom, 3-Bedroom, Penthouse) that suit your needs and comes with complete condo facilities that will sweep you off your feet:

 

No.2 Kerrisdale (S$2,500,000)

Kerrisdale1 Kerrisdale2

Location: 30 Sturdee Road

Highest $/unit sold: S$2,500,000 ($S984psf)

Tenure: 99 years from 1998-Apr-02

Floor Square Feet per unit sold: 2,540psf

Kerrisdale is a trademark of an exclusive home. A value-added condominium of 481 units total that will allow you to attain many luxuries to compliment your lifestyle. Located in the heart of town, Kerrisdale is only a few minutes away from Orchard Road and the CBD.

There are several bus route options within 100 metres ofKerrisdale, on Jalan Besar, Serangoon Road and Lavender Street. The Farrer Park MRT is about 200 metres from the back gate and the Lavender MRT is less than half a kilometre from the main gate.

 

No.3 Mera Springs (S$2,200,000)

MeraSprings1 MeraSprings2

Location: 83 Carlisle Road

Highest $/unit sold: S$2,200,000 ($S1,419psf)

Tenure: FreeHold

Floor Square Feet per unit sold: 1,550psf

Shopping pleasures and all things convenient are within easy walking distance with Novena Square, United Square and the Novena MRT station right around the corner.

 

 

No.4 Hertford Collections (S$2,050,000)

Hertford Collections

Location: 40 Hertford Road

Highest $/unit sold: S$2,050,000 ($S1,524psf)

Tenure: FreeHold

Floor Square Feet per unit sold: 1,346psf

The Hertford Collection is an intimate boutique development nestled within a tranquil setting on the fringe of Singapore’s District 11. Comprising 25 units of 16 different variations.

 

No.5 City Square Residences (S$1,850,000)

city square resi

Location: 8 Kitchener Link

Highest $/unit sold: S$1,850,000 ($S1,548psf)

Tenure: FreeHold

Floor Square Feet per unit sold: 1,195psf

Situated along Kitchener Road, at an unbeatable location near Farrer MRT station, next to City Square Mall and adjoining City Green, a public park, City Square Residences is a shining example of a well-integrated development, the epitome of convenience and city living, with everything you need within easy reach.

The 910-unit project comprises six towers of between 28 to 30 storeys. The developer, City Developments Limited, adopted a host of eco-friendly features, aspiring for the project to be environmentally sustainable in design. It is one of the first high-rise private condominiums to adopt the innovative pre-finished/fitted prefabricated bathroom units (PBU) as part of the construction-friendly design of the project.

TOP 5 CHEAPEST APARTMENTS SOLD (by $PSF) IN DISTRICT 7 & 8 FOR 1ST HALF OF 2014

No.1 GOLDEN MILE COMPLEX (S$555psf)

GoldenMile

Location: 5001 Beach Rd

Lowest $psf sold: S$555

Transacted $ per unit: S$1,218,000

Tenure: 99 yrs from 1969-Aug-4

Floor Square Feet per unit sold: 2,196psf

Not too surprising our champion in this department goes to Golden Mile Complex mainly because it is one of the oldest projects in district 7 & 8 for a lease hold building. There isn’t as much years left as compared to the other projects.

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.

No.2 RANGOON APARTMENTS (S$852psf)

RangoonApt

Location: 190 Rangoon Road

Lowest $psf sold: S$852

Transacted $ per unit: S$1,238,000

Tenure: FreeHold

Floor Square Feet per unit sold: 1,453psf

Rangoon Apartments has 17 units and is accessible to Farrer Park, Boon Keng and Novena MRT Stations. It is also near to many educational institutions like St. Joseph Institutional International, Global Indian International School, San Yu Adventist School, Farrer Park Primary School Hong Wen School and Balestier Hilll Primary School.

No.3 MERGUI MANSIONS (S$880psf)

Mergui Mansions

Location: 81 Mergui Road

Lowest $psf sold: S$880

Transacted $ per unit: S$1,260,000

Tenure: FreeHold

Floor Square Feet per unit sold: 1,432psf

Mergui Mansion is a freehold apartment development located at 81 Mergui Road, Singapore 219057, in District 08, minutes walk to Farrer Park MRT Station. Completed in 1995, it comprises 36 units. Mergui Mansion is close to Tan Tock Seng Hospital and Kampong Java Park.

No.4 KENTISH COURT (S$966psf)

KentishCourt1

Location: 33 Oxford Road

Lowest $psf sold: S$966

Transacted $ per unit: S$1,050,000

Tenure: 99 years frm 1995-Mar-1

Floor Square Feet per unit sold: 1,087psf

Kentish Court has a 99-year leasehold, located at, 33, Oxford Road, Singapore 218816, in district 8, near Farrer Park MRT Station, Little India MRT Station and Novena MRT Station. It was completed in 2000. It has a total of 77 units. It is located near Serangoon plaza and Pek kio Market and Food Centre.

No.5 KERRISDALE (S$984psf)

Kerrisdale2

Location: 32 Sturdee Road

Lowest $psf sold: S$984

Transacted $ per unit: S$2,500,000

Tenure: 99 years frm 1998-Apr-2

Floor Square Feet per unit sold: 2,540psf

Kerrisdale is a trademark of an exclusive home. A value-added condominium of 481 units total that will allow you to attain many luxuries to compliment your lifestyle. Located in the heart of town, Kerrisdale is only a few minutes away from Orchard Road and the CBD.

There are several bus route options within 100 metres ofKerrisdale, on Jalan Besar, Serangoon Road and Lavender Street. The Farrer Park MRT is about 200 metres from the back gate and the Lavender MRT is less than half a kilometre from the main gate.

Top 5 Best-Selling Apartments in Districts 7 and 8 in the 1st Half of 2014

No 1 . DUO Residences (27 units sold)

pic4

 

Location: 1 Fraser Street

Units sold: 27 units

$Psf sold: S$1,608 – S$2,585

Transacted $ per unit: S$1,058,000 – $4,170,000

Tenure: 99 yrs from 2011-Jul-1

Average Floor Square Feet per unit sold: 927psf (420psf – 1722 psf)

 

DUO Residences is an extraordinary iconic development soon to highlight the busy sparkly streets of Bugis, Singapore. Duo Residences will stand attractively as a prestigious mixed development comprising of elegant residence units, grade-A offices, an outstanding 5-star hotel and a wide array of retail galleries, all within the embrace of one welcoming environment.

Soon to greet you on 2017, this lofty and towering icon is set to transform the Bugis skyline with its 660 residential luxury units, along with a 21-storey Grade-A offices. Duo Residences also comes with an exalted 5-star hotel and an immense retail space close to 80,000 square feet, all embraced within a park-like environment. It is recognized to be the natural extension from the established convention, office and hotel hub at Marina Center. Choose from our unit types (1-Bedroom, 2-Bedroom, 3-Bedroom, Penthouse) that suit your needs and comes with complete condo facilities that will sweep you off your feet.

 

 

No. 2 City Square Residents (9 units sold)

city square resi

 

Location: 2 – 14 Kitchener Link

Units sold: 9 units

$Psf sold: S$1,406 – S$1,639

Transacted $ per unit: S$910,000 – $1,850,000

Tenure: FreeHold

Average Floor Square Feet per unit sold: 982psf (570psf – 1195 psf)

Situated along Kitchener Road, at an unbeatable location near Farrer MRT station, next to City Square Mall and adjoining City Green, a public park, City Square Residences is a shining example of a well-integrated development, the epitome of convenience and city living, with everything you need within easy reach.

The 910-unit project comprises six towers of between 28 to 30 storeys. The developer, City Developments Limited, adopted a host of eco-friendly features, aspiring for the project to be environmentally sustainable in design. It is one of the first high-rise private condominiums to adopt the innovative pre-finished/fitted prefabricated bathroom units (PBU) as part of the construction-friendly design of the project.

 

No.3 CityLights Condominium (9 units sold) 

citylights1

citylights2

 

Location: 82 – 90 Jellicoe Road

Units sold: 9 units

$Psf sold: S$1,276 – S$1,733

Transacted $ per unit: S$1,050,000 – $1,730,000

Tenure: 99 yrs from 2004-Jan-05

Average Floor Square Feet per unit sold: 805psf (678psf – 1356 psf)

 

Citylights is a 99-year development located at Jellicoe Road in District 08. Completed in 2007 and scaling 42 storeys high, it comprises 600 units and has breath taking views of the city. Citylights has full facilities, including a lap pool, BBQ pits, gym, fitness area, tennis courts, Jacuzzi, clubhouse, landscaped gardens with waterfall and a playground. Citylights is just a short walk away from Lavender MRT station and numerous bus services. The Raffles Hospital is located close by, as are several shopping centres and markets.

 

 No. 4  28RC Suites (8 units sold)

28rc suits

 

Location: 28 Race Course Lane

Units sold: 8 units

$Psf sold: S$1,631 – S$1,698

Transacted $ per unit: S$671,957 – $720,000

Tenure: FreeHold

Average Floor Square Feet per unit sold: 413psf (409psf – 441 psf)

28RC Suites is a mixed-use development within a short walking distance to the Farrer Park MRT station. Consists of 45 residential units of 1 bedroom apartments and 8 units of Shops at the ground level.

Excellent transport options, from rail to road providing island wide accessibilities. Farrar park MRT station, City Square Mall, Connexion are just a short walking distance.

 

No. 5 Kerrisdale (6 units sold)

Kerrisdale1

Kerrisdale2

 

Location: 30 Sturdee Road

Units sold: 6 units

$Psf sold: S$984 – S$1,151

Transacted $ per unit: S$1,360,000 – $2,500,000

Tenure: 99 years from 1998-Apr-02

Average Floor Square Feet per unit sold: 1,516psf (1,259psf – 2,540 psf)

Kerrisdale is a trademark of an exclusive home. A value-added condominium of 481 units total that will allow you to attain many luxuries to compliment your lifestyle. Located in the heart of town, Kerrisdale is only a few minutes away from Orchard Road and the CBD.

There are several bus route options within 100 metres ofKerrisdale, on Jalan Besar, Serangoon Road and Lavender Street. The Farrer Park MRT is about 200 metres from the back gate and the Lavender MRT is less than half a kilometre from the main gate.

 

 

 

Hope you guys enjoy the read and feel free to leave comments!

TOP 5 MOST EXPENSIVE APARTMENTS SOLD IN DISTRICT 7 & 8 (by $PSF) FOR THE 1ST HALF OF 2014

No.1 DUO Residences (S$2,585psf)

pic4

Location: 1 Fraser Street

Highest $psf sold: S$2,585

Transacted $ per unit: S$1,085,000

Tenure: 99 yrs from 2011-Jul-1

Floor Square Feet per unit sold: 420psf

DUO Residences is an extraordinary iconic development soon to highlight the busy sparkly streets of Bugis, Singapore. Duo Residences will stand attractively as a prestigious mixed development comprising of elegant residence units, grade-A offices, an outstanding 5-star hotel and a wide array of retail galleries, all within the embrace of one welcoming environment.

Soon to greet you on 2017, this lofty and towering icon is set to transform the Bugis skyline with its 660 residential luxury units, along with a 21-storey Grade-A offices. Duo Residences also comes with an exalted 5-star hotel and an immense retail space close to 80,000 square feet, all embraced within a park-like environment. It is recognized to be the natural extension from the established convention, office and hotel hub at Marina Center. Choose from our unit types (1-Bedroom, 2-Bedroom, 3-Bedroom, Penthouse) that suit your needs and comes with complete condo facilities that will sweep you off your feet.

No.2 CITY LOFT (S$1,780psf)

City loft 1 City loft 2

Location: 363 Race Course Road

Highest $psf sold: S$1,780

Transacted $ per unit: S$613,000

Tenure: FreeHold

Floor Square Feet per unit sold: 344psf

5 minutes walk to Farrer Park MRT station.

Total of 40 units which comes with pool, gym and playground. Centralized location, near to future developments.

No.3 The Urbanite (S$1,734psf)

the urbanite

Location: 29 Hertford Road

Highest $psf sold: S$1,734

Transacted $ per unit: S$840,000

Tenure: FreeHold

Floor Square Feet per unit sold: 484psf

The Urbanite is within 1 km from St. Joseph’s Institution (Junior), Anglo-Chinese Junior School and Farrer Park Primary School.

It is also in close proximity and well connected to Novena, Orchard and Bugis with walking distance to Little India and Farrer Park MRT stations.

No.4 CityLights Condominium (S$1,733psf)

citylights2 citylights1

Location: 90 Jellicoe Road

Highest $psf sold: S$1,733

Transacted $ per unit: S$1,175,000

Tenure: 99 yrs frm 05-Jan-2004

Floor Square Feet per unit sold: 678psf

Citylights is a 99-year development located at Jellicoe Road in District 08. Completed in 2007 and scaling 42 storeys high, it comprises 600 units and has breath taking views of the city. Citylights has full facilities, including a lap pool, BBQ pits, gym, fitness area, tennis courts, Jacuzzi, clubhouse, landscaped gardens with waterfall and a playground. Citylights is just a short walk away from Lavender MRT station and numerous bus services. The Raffles Hospital is located close by, as are several shopping centres and markets.

No.5 8 Farrer Suites (S$1,699psf)

8 Farrer Suites

Location: 8 Sing Joo Walk

Highest $psf sold: S$1,699

Transacted $ per unit: S$1,060,800

Tenure: FreeHold

Floor Square Feet per unit sold: 624psf

At the heart of 8 Sing Joo Walk, Singapore District 08, 8 Farrer Suites imposes 34 well-designed units ranging from 1 to 3 bedroom spaces as well as 1 to 2 bedrooms penthouse  units. It takes only 2 minutes to reach the Farrer Park MRT.

8 Farrer Suites location is also just minutes away from the popular City Square Mall, Tan Tock Seng Hospital and even the Medical Hub Connexion. One can as well drive to the closest hip of the city such as the Orchard Road Belt and Marina Bay. Exciting venue such as Sentosa and the Central Business District is also close by where numerous establishments, entertainment venues, bistros, pubs, recreational centres, shopping malls and many others are just a glimpse away.