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

No.1 ARC 380 (32 units sold)

 

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)

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)

 

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)

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

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

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

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)

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)

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)

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)

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.

Resale Strata Offices set to increase in demand and price

Straits TImes 2 Aug
Singapore’s property market is having a slower year but one market segment might be in for significant growth – resale strata-titled offices in the central business district (CBD).

Prices of these properties are poised to climb this year owing to healthy demand, particularly from Chinese buyers, according to property consultancy CBRE.

Chinese buyers are the most active, having invested heavily in office buildings such as Samsung Hub and Springleaf Tower, it said.

CBRE said prices of such office units could rise by 5 per cent to 10 per cent this year, citing limited supply and rising office rents.

The average price for strata office resales was $1,677 per sq ft (psf) in the second quarter, going by caveats lodged with the Urban Redevelopment Authority. For new sales, the average was $2,073 psf in the period.

Strata offices can appeal to Chinese companies from industries such as insurance and commodities. “These buyers likely have a big base in China where their business is booming, and they want to venture out of China and expand to Singapore.”

As a result of their thriving business back home, such firms may also have pockets deep enough for them to buy an entire office floor in Singapore rather than subdivided units.

One recent resale transaction of strata office space was the sale of the 14th floor of Samsung Hub in Church Street for $39.7 million about two months ago.

This works out to around $3,030 psf for 13,110 sq ft at the 999-year leasehold office tower, which has 30 storeys.

The buyer was a Chinese company believed to be in the trading industry.

The seller is believed to be Arch Capital Management, a Hong Kong-based private equity real estate firm with links to Ayala Group of the Philippines, according to a Business Times report.

Chinese firms also snapped up eight out of 12 floors of office space in Springleaf Tower, put up for sale in the second half of last year. Springleaf Tower is a 37-storey building in Anson Road. The firms were in insurance, shipping and commodities.

The seller of all 12 floors was SEB Asset Management, part of German pension fund manager SEB. Prices ranged from $2,200 psf to $2,400 psf, reports said.

Some companies may prefer to buy completed offices rather than units that are still under construction, so that they can move in immediately.

Buyers of office space also “don’t want to be held ransom to landlords, so they become landlords themselves”.

One main reason is a widely expected spike in office rents in the CBD over the next two years due to a supply shortage.

Analysts predict that prime office rents in the CBD could climb by as much as 15 per cent to 16 per cent this year from last year.

This pace of office rental growth could even be faster than that in major global cities such as London, New York and San Francisco, property consultancy JLL noted in May this year.

The office components of mixed developments such as South Beach near Raffles Hotel, DUO in Bugis and Marina One in Marina Bay could be completed within the next few years.

A similar article on strata office in Business Times (in the first quarter) was found and attached here for reference.

Click to access pg28-29.pdf

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.

Thai fish sauce.

 

Pre-packed Thai Curry ingredients.

 

 

There is even a good selection of Vietnamese goods.

 

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.

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!!

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.

Golden Mile Complex

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.