Two freehold shophouses are up for sale via Expression of Interest (EOI), located at 5 and 7 Jasmine Road off Upper Thomson Road. The two-storey shophouses have a total area of 3,650 sq ft, with an existing combined floor area of about 3,940 sq ft with a guide price of $10.5 million, or $2,665 psf on the floor area.

The properties are zoned for “residential with commercial at 1st storey” use with a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan. They are just a minute’s walk away from Upper Thomson MRT Station, while Caldecott MRT Station is just one stop away.

The shophouses offer an opportunity for investors to own immediate rental income with future capital appreciation potential in the long term. Alternately, the successful buyer can consider redeveloping the adjoining shophouses into a four-storey residential building.

Being …

At a guide price of $63 million, owners of the 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for tender. Boasting a land area of 32,397 sq ft, the four-storey development has the potential to yield up to 45,356 ft of gross floor area upon redevelopment. It could potentially have 49 residential apartments with an average size of 915 sq ft.

The guide price translates to a land rate of $1,401 psf per plot ratio (psf ppr) including an estimated land betterment charge of $530,000. However, this could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area.

The tender for the property closes on May 9 at 2pm. Located within a stone’s throw of Paya Lebar Commercial Hub, 52 to 62H Tanjong Katong Road is a 10-minute drive from the CBD and 500m walk from Paya Lebar …

The sale of a pair of conservation shophouses located at 6 and 7 Perak Road has recently been announced with a guide price of $13 million. This translates to $2,425 psf on the total floor area, amounting to a total of 5,360 sq ft. The 11.4m-wide properties occupy a land area of approximately 2,870 sq ft, and enjoy a convenient location only a three-minute walk from Rochor MRT Station. With a well-maintained interior and external features, the current owner has reportedly been receiving multiple offers from prospective tenants seeking to rent the premises.

Currently approved for usage as a backpackers’ hostel, the properties may attract interest from investors in the tourism sector eager to tap into the renewed interest for conveniently located accommodation. Furthermore, with the absence of a buyer’s stamp duty payment and the potential for strong rental and capital growth, the shophouses can provide a prospective buyer with …

Sandeep Sethi has been appointed as division president of JLL’s Work Dynamics in Asia Pacific. In this role, he will be responsible for all clients across North Asia, in markets such as mainland China, Hong Kong and more. He has extensive management experience, with 10 years of service under JLL and 27 years of diverse corporate experience.

Sethi, based in Gurgaon, is set to report to Susheel Koul, who is JLL’s CEO for Work Dynamics in Asia Pacific. Koul stated that “Sandeep is an established leader and a respected client advisor with an astute understanding of the dynamic nature of commercial real estate. His appointment reinforces JLL’s commitment to developing and elevating our people to serve our rapidly diversifying client base across Asia Pacific”.

Expanding on Sethi’s current portfolio as the Managing Director and Head of Work Dynamics for West Asia, this new role will have him overseeing services delivered …

An extremely rare opportunity to acquire an industrial property of over 500,000 sq ft with waterfront access has been launched for sale at 1 Benoi Road in Singapore. The site has a guide price of $11.3 million and includes a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and wharf.

The property is situated in the Jurong Industrial Estate, located 24km from the City Centre and located near housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. The Ayer Rajah Expressway and Pan-Island Expressway provide easy access to other parts of the island, and Joo Koon MRT Station is just a five-minute drive away.

According to Isabel It, associate division director of Huttons Asia, the property has a regular shape with a corner frontage of about 255m on Benoi Road and Pioneer Road, …

GuocoLand tops bid for Lentor Central site with $1,204 psf ppr; sets new record for OCR land prices
GuocoLand tops bid for Lentor Central site with $1,204 psf ppr; sets new record for OCR land prices

The 99-year leasehold site for the lentor residential government land sale (GLS) at Lentor Gardens closed today with GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) submitting a bid of $486.8 million and resulting in a land rate of $985 psf per plot ratio (psf ppr).

“For the Lentor Gardens site, we are envisioning a new high-end residential development with around 533 units, and with 600 sqm of childcare facilities,” says a GuocoLand spokesperson.

Mark Yip, CEO of Huttons Asia, noted that the bid of $958 psf ppr was the lowest for a land parcel in the Lentor precinct, and the first residential GLS tender to have received only one bid since …

Despite macroeconomic uncertainty dampening demand for office space in Singapore’s Central Business District, Grade A office rents showed a modest growth of 1.0% in the first quarter of 2023. According to JLL Singapore’s research, the gross effective rent for CBD Grade A office spaces rose on a quarterly basis to an average of $11.30 psf pm.

This is the second consecutive quarter of slowing growth following five quarters of consecutive growth, which Andrew Tangye, JLL Singapore’s head of office leasing and advisory, attributes to companies pausing their expansion and relocation plans.

Tay Huey Ying, JLL Singapore’s head of research and consultancy, notes that despite the current caution in sentiment, the scarcity of Grade A office space has prompted some companies to upgrade offices to better quality spaces in recent or soon-to-be-completed projects. This includes Munich Re and Corney & Barrow, who respectively took up two floors in 18 Cross Street …