Author: susukinono

a guide price of $42 million has been set for the sale of a high-specification warehouse cum factory located in Gul Circle. The property, marketed exclusively by Knight Frank Singapore, is being sold through an expression of interest.The facility is a five-storey single-user factory and warehouse with a mezzanine spanning four floors. Its total gross floor area is approximately 245,955 sq ft, and it sits on a 105,648 sq ft site with a remaining leasehold tenure of 15 years and 11 months, as of Feb 1. The site is zoned as Business 2 under the URA Master Plan 2019.Knight Frank Singapore states that the property has been designed to meet modern industrial requirements, offering features such as high ceilings for storage and operations, cold rooms, and heavy floor loading capabilities that can accommodate various industries. The property also boasts nine 40-footer loading and unloading bays with dock levelers, as well …

SINGAPORE (April 2024): Property consultancy Colliers predicts that the industrial property market in Singapore will see a slowdown in prices and rents this year due to a surge in supply and weaker demand. In their research report released in February, Colliers projected a modest annual growth rate of 0% to 2% in both industrial rental rates and prices for 2025, a significant decline from the 3.5% growth recorded in 2024.

According to Colliers, the market is already showing signs of slowing down, with the recent data from JTC indicating a loss of momentum. While the official data for 2024 is not yet available, the JTC All Industrial rental index rose by only 0.5% in the last quarter of 2024, marking the 17th consecutive quarter of growth. In comparison, rental rates had increased by 8.9% in 2023, showcasing a notable decrease in growth.

Similarly, the JTC price index also saw a …

Tan Boon Liat Building, a renowned industrial property which sits at 315 Outram Road, has recently been put up for collective sale. The reserve price for this freehold site is set at a whopping $1.15 billion. The property stands next to the upcoming Havelock MRT Station on the Thomson-East Coast Line (TEL) and is spread across two different land plots. Both of these plots are currently zoned for “Business 1” use and together, cover an area of approximately 175,655 sq ft.The most noticeable feature of Tan Boon Liat Building is its 15-storey structure that houses several furniture and home decor stores, making it a well-known location. The property’s advisor and marketing agent, Cushman & Wakefield, revealed that the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on Jan 22 recommending the site to be rezoned to “Residential with Commercial at 1st storey” with a plot ratio of 4.9, …

A new record has been set at Park Nova with the sale of its largest penthouse, as stated in a recent caveat lodged on the URA Realis database. The 5,899 sq ft, five-bedroom unit on the 20th floor was sold for a whopping $38.888 million, or $6,593 psf, by the developer.

This transaction has now set a new high in both absolute price and psf-price for a unit at Park Nova, surpassing a previous record held by a 4,499 sq ft penthouse which sold in May 2021 for $26.026 million ($5,784 psf).

Not only is this the highest price recorded for Park Nova, it is also the second-highest psf-price ever registered for a condo unit in Singapore. The only unit that held a higher record was a 3,089 sq ft, four-bedroom unit on the 20th floor of The Marq on Paterson Hill, which sold for $20.54 million or $6,650 psf …

CapitaLand Investment (CLI) has recently acquired a freehold land parcel in Osaka for the development of its first data centre in Japan. With an investment of over US$700 million or $944.3 million, the data centre project is expected to have a power capacity of 50 megawatts (MW).

CLI has stated that the data centre will be equipped with advanced cooling technologies and adhere to industry best practices in temperature management to reduce energy consumption. Additionally, the data centre will utilize environmentally friendly products with zero ozone depletion potential or global warming potential of less than 100.

According to Manohar Khiatani, Senior Executive Director of CLI, the acquisition aligns with the company’s investment theme of digitalization and strengthens its presence in one of its focus markets, Japan. He also states that CLI’s strong financial position allows them to strategically invest in quality assets like data centres for their future private funds.…

CapitaLand Ascott Trust (CLAS) has recently made a significant acquisition in Japan, adding two freehold limited-service hotels to its portfolio for a total of JPY21 billion ($178.5 million). The two hotels, which are ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, are strategically located in Tokyo and Kanazawa, respectively. The purchase price for this acquisition was at an 8.3% discount to its independent valuation.

On a FY2024 pro forma basis, the acquisition has a distribution per stapled security (DPS) accretion of 1.6%, which is a positive boost for investors. Additionally, the blended net operating income (NOI) yield of the acquisition is expected to be 4.3% in FY2024. To hedge against currency fluctuations, the acquisition was funded by JPY-denominated debt and proceeds from CLAS’ divestment of four properties in Japan.

The first hotel, ibis Styles Tokyo Ginza, is located in Tokyo’s bustling shopping and entertainment district. With 224 units, the …

Mapletree Investments has expanded its presence in the European logistics sector with the acquisition of its first logistics property in the UK and 10 warehouses in Spain for a total of EUR315.1 million ($444.5 million). These acquisitions, spanning approximately 256,000 sqm, will serve as the initial assets of the group’s second European logistics-focused fund.

The move reflects Mapletree’s strategic plan to deepen its focus and expand its global reach in the logistics sector. In a press release issued on Jan 27, the group states that the fund will be launched “at an appropriate time after achieving sufficient scale.”

According to Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm, “Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors.” He attributes this to the thriving e-commerce industry and companies’ efforts to secure and expand their supply chains.

Van der …

Please rephrase the attached article. Turquoise, the 91-unit luxury condo located at Sentosa Cove with a waterfront view, has three duplex penthouses available for purchase at $23 million. The largest of the three penthouses, situated in the 99-year leasehold condo, is a five-bedroom duplex covering 7,987 square feet. It is also the largest among the ten penthouses in the development.

This penthouse features a wine cellar, kitchen, and living area on the lower level, with four en suite bedrooms, two utility rooms, and a balcony. The upper level boasts the master bedroom suite, complete with a private infinity pool, pool deck, and outdoor shower. It is currently listed for $12 million ($1,502 per square foot).

The second-largest penthouse at Turquoise is a four-bedroom unit spanning 3,746 square feet, with a price tag of $5.99 million ($1,599 per square foot). The upper level of this penthouse includes a spacious open-air terrace …

The Botanic on Lloyd, a freehold condo, has achieved the highest psf-price among private non-landed developments, setting a new psf-price record during the period between January 3 and January 11. The new price peak was reached on January 7 with the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf. This surpasses the previous high of $2,339 psf by 6.6%. The previous record was set in October last year when a 1,496 sq ft, three-bedroom unit located on the fourth floor was sold for $3.5 million.

The Botanic on Lloyd is a freehold boutique development with 60 apartments and six townhouses. The units range from three- to four-bedrooms, with sizes ranging from 1,485 sq ft to 3,584 sq ft. The townhouses feature five bedrooms and two private parking lots and range from 4,058 sq ft to 4,446 sq ft.

In Prime …

In its quarterly report published on Jan 24, HDB revealed that resale prices for public housing in Singapore have increased by 2.6% in the last three months of 2024, marking the 19th consecutive quarterly increase in the resale market. This brings the total price increase for the whole year to 9.7%. In comparison, resale prices only increased by 4.9% in 2023. The rise in prices during the fourth quarter was slightly lower than the 2.7% increase recorded in the third quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong growth in resale prices throughout 2024 can mostly be attributed to the limited supply of flats reaching their Minimum Occupation Period (MOP) during the year. This resulted in a tight supply, which put upward pressure on prices, especially for newer and larger flat types like five-room and executive units, which cater to the needs of …