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.

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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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.

Eco village to set up in Kallang Park

A BIODIVERSITY pond to teach students about nature, walls painted with murals of the old Kampong Bugis and bins in the shape of frogs or bottles will soon spring up at Kallang Riverside Park.

Founder and chairman of Waterways Watch Society (WWS) Eugene Heng has dreamt up an ecovillage on a 400m stretch of the park to ignite a green spark in park users.

The environmental group is the first non-governmental organisation to sign an agreement with the National Parks Board (NParks) to organise and run activities in a park.

Mr Heng, 65, a retired bank executive, said he mooted the idea of the society taking on more responsibility for the area about five years ago.

WWS, which has 380 volunteers, including two full-timers, has been patrolling and picking up litter there for the past 16 years. It also does clean-up and environmental activities in other places.

Its latest project is in line with Prime Minister Lee Hsien Loong’s announcement last Saturday that the Government will work with partners who want to do more for the environment.

NParks director of parks Kartini Omar said with WWS’s experience in developing programmes and outreach, the partnership will provide more recreational opportunities for all to enjoy.

NParks has previously joined hands with other environmental NGOs such as WildSingapore and the Toddycats on activities like guided nature walks, bird watching and nature photography.

Mr Heng said he plans to build a biodiversity pond, which will help students learn more about plants and wildlife. In addition, his society hopes to team up with institutes of higher learning to raise awareness of environmental issues such as littering.

“We may also hold exhibitions on recycling, repaint walls or redesign some of the rubbish bins to make them more appealing,” he added.

“The park is very quiet on weekdays, so we hope to enhance it so that people will come here to enjoy nature.”

Experts called the collaboration a win-win situation.

Chairman of the Government Parliamentary Committee for National Development and Environment Lee Bee Wah noted: “Non-government groups can sometimes be better attuned to the public’s needs, and can… be free from red tape (compared with) a government agency.”

NParks puts up the infrastructure and lays out policies while WWS does the ground work of engaging people, she added.

NParks will continue to own and manage the park, but WWS can develop and maintain other facilities in the village, such as a portable stage for water sports events and signboards to support its programmes, subject to NParks’ approval.

People who want to organise public events in the village will also have to go through WWS first, although NParks has the final say.

Said Mr Heng: “Over the years, we have seen more volunteers who are passionate and have the relevant expertise. I believe we can tap on that.”

But he acknowledged that more sponsorships and full-time staff will be needed.

Mr Leong Kwok Peng, the Nature Society (Singapore) vice-president, added that the partnership is a big step forward for civil society here.

“It breaks new ground… Hopefully more such partnerships can be done in nature conservation and heritage,” he said.

– See more at: http://news.asiaone.com/news/singapore/eco-village-take-root-kallang-park#sthash.oxxHwknr.dpuf

See more at: http://news.asiaone.com/news/singapore/eco-village-take-root-kallang-park#sthash.oxxHwknr.dpuf

District 7’s new gate to the city

District 7 is getting  a lot of buzz recently. The impending launch of the City Gate mixed development in Jalan Sultan is drawing attention back to the Kampong Glam district.

Its charm as a historical and cultural zone may give it a head start over many areas but it is its location – on the edge of the city centre and close to retail and entertainment amenities – that is its strongest suit, property consultants said.

Plans to develop the surrounding Beach Road and Ophir-Rochor corridor into a district of mixed- use projects will underpin the investment outlook in the mid- to long term, they said.

“The location on the city fringe translates into easy convenience when commuting to the premier shopping belt of Orchard Road or the central business district,” said Ms Chia Siew Chuin, director for research and advisory at Colliers International.

The 30-storey City Gate is on the site of the former Keypoint, which was acquired by World Class Land for S$360 million from Frasers Commercial Trust in 2012.

The 99-year leasehold project in Beach Road will feature 311 flats – one- and two-bedroom units of 431 to 570 sq ft, two-bedroom and three-bedroom dual-key units of 678 to 1,066 sq ft and one- to four-bedroom penthouses that range from 484 to 1,819 sq ft.

It will also have 188 commercial units, ranging from 280 to 3,735 sq ft.

Residential units are expected to go for S$1,900 to S$2,000 per sq ft (psf) and commercial units could sell for S$4,000 to S$5,000 psf, marketing materials show.

This makes it cheaper than the mixed development DUO in Ophir Road, which was launched by developer M+S at an average selling price of S$2,000 psf last November. DUO is in the city centre, unlike City Gate, noted R’ST Research director Ong Kah Seng.

Two 829 sq ft units at the 360-unit Concourse Skyline, developed by Hong Fok Land, went for S$1,810 to S$2,075 psf in the fourth quarter last year. But 101 units remain unsold since the completed project was launched at about S$1,590 psf in 2008.

Ms Christine Li, research head at OrangeTee, said the new supply of homes from City Gate could place pressure on the developer to lower prices at Concourse Skyline to shift units, especially with the cooling measures in place.

Older developments in the area include the 132-unit Textile Centre, where four units have sold at median prices ranging from S$911 to S$926 psf over the past year.

At The Plaza – a strata-titled 32-storey mixed-use building owned by UOL Group – two units changed hands at a median price of S$1,257 psf a year ago.

In this year’s first quarter, 13 leases were signed at The Plaza at a median rent of S$4.06 psf, said Mr Ong. He felt that owners of units in the new developments can expect strong rental demand, saying “this is a convenient location”.

Highly accessible

The location on the city fringe translates into easy convenience when commuting to the premier shopping belt of Orchard Road or the central business district. – Ms Chia Siew Chuin, of Colliers International

– See more at: http://business.asiaone.com/news/unlocking-the-gate-the-citys-charms#sthash.IQa1Tewc.dpuf