Conservation shophouse on Purvis Street up for sale at $17.8 mil
Tan See Min, a 67-year-old Singaporean, is the third-generation owner of a conservation shophouse on 24 Purvis Street built in 1927. His family had operated a packaging and parcelling business from the first level of the shophouse, while the five bedrooms in the upper level were occupied by the family.
During World War II, Tan’s grandfather took his family to Kuraman Island in the South China Sea. After the war, the family returned to the same shophouse on Purvis Street where they had lived before. Tan’s grandfather then ventured into the sale and distribution of baking ingredients.
Also located nearby were a “dhobi” or laundry service and a glazier specialising in glass windows and other installations.
Tan’s father was an agent for SG Oxygen and would store up to 100 cylinders at the shophouse. He and Tan would make deliveries if needed, lorry-loads of cylinders.
In the 1970s, the streets …
Keppel to sell strata-titled carpark at Bukit Timah Plaza
; SRX records 252 visitorsThe strata-titled carpark at Bukit Timah Plaza in Jalan Anak Bukit is up for sale by expression of interest (EOI), with the tender slated to close on July 7. This follows the surge in interest in the neighbourhood due to the upcoming launch of The Reserve Residences next door.
Riding on the wave of revived interest in the Jalan Anak Bukit and Bukit Timah neighbourhood, Brilliance Capital has kicked off the sale of the strata-titled carpark at Bukit Timah Plaza by expression of interest (EOI). The existing owner of the carpark is Keppel Land, which has stated that the proposed sale is in line with their asset monetisation plans.
Situated on an island site with prominent frontage accessed by the Pan Island Expressway and Bukit Timah Expressway, Bukit Timah Plaza has NTUC FairPrice Finest supermarket as an anchor tenant and offers shoppers popular F&B outlets, retail …
CapitaLand Ascendas REIT to acquire Seagate’s The Shugart in one-north for $218.2 mil
CapitaLand Ascendas REIT (CLAR) is set to expand their footprint in the one-north area of Singapore with the purchase of The Shugart, an integrated research and development (R&D) facility. The total cost of the acquisition is expected to be $232.4 million, including fees and other related expenses. The Shugart currently houses Seagate Singapore’s operations, serving as their primary R&D location outside the United States.
The building is six stories tall and includes a nine-story tower with cleanroom and data centre space, a sky garden, and a multi-purpose sports hall with a gymnasium for its employees. Once the acquisition is complete, CLAR’s footprint in one-north will increase to 2.5 million square feet over an assets under management (AUM) of $1.9 billion.
An additional benefit to CLAR is that Seagate Singapore will enter into a 10-year leaseback of the entire space upon completion, with the option to renew for an additional 10 …
Chinese buyers paid 30% ABSD for New Futura, Yong An Park, instead of 60% as reported
Foreign buyers of two luxury condos in District 9 pay ABSD of 30%Foreign buyers recently acquired two luxury condo units in Singapore’s District 9 despite the higher buyer’s stamp duty that came into effect in April. According to URA data, a four-bedroom unit at freehold condo New Futura was bought by a Chinese national for $12.5 million on May 3rd, paying an ABSD rate of 30% or $3.75 million. The seller had purchased the unit in January 2018 for $9.13 million, making a gain of $3.37 million after a five-year holding period.
A separate transaction was conducted at Yong An Park, a freehold development on River Valley Road, with a six-bedroom townhouse unit being scooped up by a Chinese buyer for $14.08 million ($1,824 psf) on 5th May, with an ABSD of 30% also paid at $4.2 million. The seller made a 47% capital gain after holding the property for …
Chinese buyers pay top price and 60% ABSD at New Futura, Yong An Park
Foreign buyers of luxury condos in Singapore undeterred by high ABSD rates
Foreign buyers of luxury properties in Singapore’s prime District 9 are still undaunted by the recent hikes in additional buyer’s stamp duty (ABSD) that came into effect on April 27. Two luxury condo units were purchased by foreign buyers in the area, both with high transaction prices.
Data from the Urban Redevelopment Authority (URA) shows the purchases were made by non-permanent resident Chinese nationals.
The first property is a four-bedroom unit at New Futura, a freehold condo along Leonie Hill Road. URA data details the price at $12.5 million, at a rate of $4,645 per sq ft. This is the most expensive such sale at the 124-unit development from developer City Developments Ltd.
Based on the current ABSD rate of 60%, the Chinese buyer paid an additional $7.5 million. The total transaction price was therefore $20 million.
J’Den …
Commercial site in CBD relaunched for collective sale at $216 mil
Along with residential units, J’den will be housing a number of innovative and popular lifestyle amenities such as a roof top terrace overlooking Jurong East, a tall green wall and a green house concept amenity, as well as a gym, yoga room, library, spa, cafe and a pool. Residents of the surrounding area will be able to benefit from the new amenities of the Former JCube. Keyword: Redevelopment.
The commercial site bounded by Hoe Chiang Road and Lim Teck Kim Road in the Downtown Core will be relaunched for a collective sale through tender on May 17. PropNex Realty, the marketing agent, mentioned in a press release that the site has a reserve price of $216 million, unchanged from the previous tender which was launched on January 19 and closed on March 22 without any bidders.
The two rows of commercial buildings, along with the piece of remnant land …
JLL appoints Luke Billiau as capital markets head for Australia and New Zealand
Luke Billiau of JLL has recently been elevated to the position of Head of Capital Markets in Australia and New Zealand. With a team of more than 140 experts at his disposal, Billiau will leverage his experience across various asset classes to drive powerful capital markets operations for this region.
Billiau has been part of the JLL family since 2007, and has steadily climbed the ranks within the company. Before his current role, he was the Head of the NSW Capital Markets business, in addition to heading the Office Investment operations in Australia.
CLD is set to inaugurate J’Den Capitaland with the launch of J’den Condo in the second half of 2023. The features, pricing and other details of the upcoming condos have not yet been revealed by the organization. It will be a major redevelopment project for the area, serving to enhance the Singapore government’s plans to make JLD …
New launches push developers’ April new home sales to 887 units, up 80% m-o-m
April saw strong sales of 887 new private homes (excluding executive condominiums or ECs) according to URA data released on May 15, an 80.3% increase month on month and a 37% rise year on year. This is the highest monthly sales since September 2022 when 987 new private homes were sold and marks the fourth consecutive month of growth.
Residents of J’Den Condo will be able to enjoy numerous amenities. Besides riverfront living, they can enjoy cycling, jogging and walking trails, gourmet restaurants, lifestyle shopping, as well as public transportation to major cities, all within a short drive. This is likely to make J’den Condo an ideal living choice for both locals and expatriates.
The Rest of Central Region (RCR) was the major contributor to this increase, with 628 units sold in the region – the highest monthly tally in 11 months. This was largely thanks to the two major …
The Reserve Residences sales gallery drew nearly 6,000 on preview weekend
What’s more, the exclusive Preview Preview started on Tuesday, May 16. With attractive preview packages, buyers can take advantage of discounts of up to $2,500, a stamp duty waiver of up to $14,000, $58,000 worth of Renovation Furnishings or two years maintenance fee waiver.
Since Saturday, 13th May, the actual site of the mixed-use integrated development at Jalan Anak Bukit has seen a crowd of nearly 6,000 people gathered at the sales gallery of ‘The Reserve Residences’. Located in the Bukit Timah area of District 21, the 99-year leasehold property features 8 residential blocks, with 732 residential apartments and 160 serviced apartments, including a 3-storey retail mall of 215,280 sq ft.
Surrounding the J’den Condo development, the JLD will also be home to some of Singapore’s largest shopping malls, as well as green spaces and public parks. With so many amenities nearby, the J’Den Condo is the ideal choice for …
Unlocking Value How The URA Master Plan Enhances J’Den Condo at Jurong East & The Benefits it brings
The Urban Redevelopment Authority (URA) Master Plan is a comprehensive plan to guide Singapore’s physical transformation and urban development over the next decade. In this plan, the URA has identified Jurong East as the future business and leisure hub of Singapore. This plan has opened up many opportunities for property developers to develop the area into a vibrant and attractive destination for residents, businesses, and visitors.
J’Den Condo at Jurong East is one such property development project that has benefited from the URA Master Plan. Located in close proximity to the Jurong East MRT station, J’Den Condo offers residents easy access to the rest of Singapore via the nearby MRT lines. Residents can also enjoy the convenience of being able to shop, dine, and explore the area.
The URA Master Plan has also unlocked the potential of J’Den Condo at Jurong East by allowing the development of a range of …