Author: leahlim   |   Latest post: Mon, 16 Dec 2019, 3:42 PM


Start-up SpaceSense helps SMEs make sense of commercial leasing

Author: leahlim   |  Publish date: Mon, 16 Dec 2019, 3:42 PM

SINGAPORE (EDGEPROP) - Typically, small and medium enterprises (SMEs) cannot rely on in-house real estate expertise when they plan to expand or find new office space. The bosses and managers are also less familiar with how to navigate the commercial real estate market or manage the relocation process, says Steven Ming, managing director of Sakal Real Estate Partners, a local real estate agency.
Ming, together with his co-founders, Eunice Ooi and Joe Kwan, launched a property technology start-up called SpaceSense in June this year to capitalise on this gap in the market. “We saw that SMEs didn’t have anybody to support their real estate needs. So we formed SpaceSense to help them rationalise the space they need and to find the right-sized space for each company,” says Kwan.


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URA modifies dual-envelope process for two GLS sites

Author: leahlim   |  Publish date: Mon, 16 Dec 2019, 12:26 PM

SINGAPORE (EDGEPROP) - A white site at Kampong Bugis and a hotel site at River Valley Road have been released for sale under the 2H2019 Government Land Sales (GLS) programme. Both sites are under the Reserve List.
The concept and price revenue tender approach will be adopted for both land sales. This means tenderers submit concept proposals and tender prices separately, and only successful concept proposals will be evaluated based on the prices.
Read more: 


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UOL Group to acquire building next to Odean Towers along North Bridge Road for $79.3 mil

Author: leahlim   |  Publish date: Mon, 16 Dec 2019, 9:29 AM

SINGAPORE (Nov 22): UOL Group is acquiring KH KEA Building along North Bridge Road, which is located next to the company’s Odeon Towers, for $79.3 million.
Located next to Bras Basah Complex, the 9-storey commercial building sits on a land area of 435.2 sqm and has a net lettable area of around 22,075 sqft.


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Radisson Hotel Group to open three new hotels in Vietnam

Author: leahlim   |  Publish date: Fri, 13 Dec 2019, 3:39 PM

Global hotel chain Radisson Hotel Group will open three new hotels in Vietnam over the next four years. The hotelier wants to capitalise on a rising tide of domestic and international tourism. The country received 14.5 million foreign visitors in the first 10 months of 2019, which translates to a 13% y-o-y increase.
The first new hotel to open its doors will be the Radisson Hotel Danang which will welcome its first guests in 2Q2020. The hotel is located in Danang city’s central Phuoc My Ward and is a 10-minute drive from Danang International Airport. The hotel will overlook the sea and features 182 rooms and suites. Other amenities include a restaurant, a lounge, a spa, a fitness centre, a swimming pool, and meeting spaces.


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Barangaroo South named Australia’s first carbon-neutral precinct

Author: leahlim   |  Publish date: Fri, 13 Dec 2019, 12:22 PM

Barangaroo South, a 7.5ha site close to Sydney’s Central Business District, has been named as Australia’s first carbon-neutral precinct by Australia’s government.
The site was jointly developed by the New South Wales government and Australian developer Lendlease, which is also behind the development of Singapore’s Paya Lebar Quarter.


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JLL and HSBC extend global facilities management contract to 2024

Author: leahlim   |  Publish date: Fri, 13 Dec 2019, 8:36 AM

SINGAPORE (EDGEPROP) - JLL has been reappointed to run the global facilities management operations for banking and financial services firm HSBC until 2024. This agreement spans the bank’s global real estate portfolio which numbers more than 4,000 locations.
The contract will run for five years, and this is the second extension to the original contract which was signed in 2013. It is also the largest global facilities management outsourcing mandate in the financial services industry.


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Centurion Corp to acquire student accommodation asset in Nottingham for $27 mil

Author: leahlim   |  Publish date: Thu, 12 Dec 2019, 2:49 PM

SINGAPORE (Dec 9): Dormitory operator Centurion Corporation is acquiring Archer House, a 177-bed student accommodation asset in Nottingham, UK, at a purchase consideration of 15.1 million pounds ($27.0 million).


Centurion’s second acquisition in Nottingham, this will bring the group’s UK portfolio to a total of over 2,850 beds across 11 purpose-built student accommodation (PBSA) assets in five cities.


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Co-working: The new reality

Author: leahlim   |  Publish date: Thu, 12 Dec 2019, 12:20 PM

SINGAPORE (EDGEPROP) - Consolidation is taking place in the co-working sector, as landlords turn cautious and co-working providers draw lessons from giant WeWork’s implosion


Low Jeng-tek, CEO and director of Homestead Group, a Singapore-based real estate company that invests in and manages a portfolio of heritage properties, is a big believer in co-working. “It’s because of this,” he says, as he scans the crowd at Tangles, a sports café at Tanglin Club, and spots people working on their laptops. “The driver of co-working is real because millennials like such spaces,” observes Low.



Read more: https://www.edgeprop.sg/property-news/co-working-new-reality

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One Holland Village Residences ignites interest in the Holland Road-Farrer Road area

Author: leahlim   |  Publish date: Thu, 12 Dec 2019, 10:03 AM

SINGAPORE (EDGEPROP) - Despite being launched so close to the year-end holidays, One Holland Village Residences achieved sales of 102 units at the close of Dec 6. This translates to 34.5% of the total of 296 units sold within a week of its launch in late November. Units in its high-rise, 34-storey tower achieved an average price of $2,600 psf, while the units in the low-rise blocks hit an average of $2,900 psf. The luxury residences within the development set a new threshold at $3,200 psf.


The One Holland Village mixed-use development is jointly developed by Far East Organization, Sekisui House and Sino Group.



Read more: https://www.edgeprop.sg/property-news/one-holland-village-residences-ignites-interest-holland-road-farrer-road-area


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Making room for the modern workforce

Author: leahlim   |  Publish date: Wed, 11 Dec 2019, 11:45 AM

SINGAPORE (EDGEPROP) - Steelcase’s office on 57 Mohamed Sultan Road is a flurry of activity. In a meeting room, some employees are huddled over a desk, standing up. Others are working in an open area on desks divided by cheerful prints. The interior of the Nasdaq-listed, US-based furniture company is decked out in fancy fittings: half like a showroom for its offerings, and half embodying the zestful vibe of a swanky co-working space.
Steelcase has designed its office the way it believes how the modern workforce needs it: mobile, visual, and promoting collaboration.


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URA releases 11 land plots under 1H2020 GLS programme

Author: leahlim   |  Publish date: Wed, 11 Dec 2019, 8:04 AM

SINGAPORE (EDGEPROP) - Under the Government Land Sales (GLS) Programme for 1H2020, three Confirmed List sites and eight Reserve List sites have been released, the URA announced on Dec 3.
In total, the sites can yield about 6,490 private residential units, 114,000 sq m (1.2 million sq ft) gross floor area (GFA) of commercial space and 1,070 hotel rooms.


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Resale unit at Strata reaps $1.1 mil profit

Author: leahlim   |  Publish date: Tue, 10 Dec 2019, 2:50 PM

SINGAPORE (EDGEPROP) - The seller of a unit at Strata, on Essex Road, made the top gain of $1.1 million over the week of Nov 19 to 26. The 1,636 sq ft unit on the 21st floor was bought for $1.15 million ($701 psf) in January 2004 and sold for $2.2 million ($1,345 psf) on Nov 22. The seller therefore made a 92% profit, or an annualised profit of 4% over 16 years.
Located in District 11, Strata comprises 100 freehold units and was completed in 2006. It is a six-minute walk to Novena MRT Station on the North-South Line.


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UNDER THE HAMMER: One-bedder at Balcon East going for $775,000

Author: leahlim   |  Publish date: Tue, 10 Dec 2019, 12:00 PM

SINGAPORE (EDGEPROP) - A 624 sq ft, one-bedroom unit at Balcon East, along Upper East Coast Road in District 16, will be put up for its second auction on Dec 11 with a guide price of $775,000 ($1,241 psf).
According to the auctioneer at Edmund Tie, this is a mortgagee sale and the freehold property was first put up for auction on Nov 20 with the same guide price. The second-floor unit will be sold with vacant possession, on an “as is where is” basis.


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Detached house at Jalan Dermawan up for sale at $10.8 mil

Author: leahlim   |  Publish date: Tue, 10 Dec 2019, 9:22 AM

SINGAPORE (EDGEPROP) - In the Hillview Garden Estate, up on Jalan Dermawan in District 23, is a 999-year leasehold detached house that is currently on the market for $10.8 million ($1,196 psf).
With a land area of 9,032 sq ft and a built up area of about 11,000 to 12,000 sq ft, this three-and-a-half-storey detached house is an amalgamation of two adjacent semi-detached houses. According to OrangeTee’s associate executive director Jeffrey Sim – who is marketing the property – the current owners first stayed at one of the houses before purchasing the neighboring unit when it went on sale. Both houses were then torn down six years ago for a reconstruction work which Sim says costs “at least $3.5 million”.


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Otium Living launches luxury retirement village in Phuket

Author: leahlim   |  Publish date: Mon, 9 Dec 2019, 2:45 PM

Otium Living, retirement village developer and operator, has launched its first luxury retirement village in Phuket, Thailand.
Otium Phuket spans 20 acres and is part of the larger five-star MontAzure mixed-use residential area. The retirement village has a total of 149 properties, comprising 123 apartments and 26 villas, which will be available for purchase. It is set in the tropical hillside of a protected nature reserve and close to Kamala Beach in Phuket.


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SevenCapital highlights top five emerging UK residential hotspots for 2020

Author: leahlim   |  Publish date: Mon, 9 Dec 2019, 11:49 AM

UK property investment firm SevenCapital has revealed its top five picks for emerging residential hotspots in the UK for 2020.
The residential localities are Bracknell, Slough, Stevenage, Northampton and Milton Keynes.


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SB Architects unveils design for Crescent Hills in Xiamen

Author: leahlim   |  Publish date: Mon, 9 Dec 2019, 8:49 AM

SB Architects has revealed the design for Crescent Hills, a luxury residential and hospitality project in Xiamen, China.
Crescent Hills is an upscale leisure destination comprising residential offerings, a natural hot spring park and water park, and a luxury resort hotel. It is within one hour of Xiamen, Zhangzhou and Quanzhou, and 30 minutes from Xiamen Gaoqi International Airport.

Read more: https://www.edgeprop.sg/property-news/sb-architects-unveils-design-crescent-hills-xiamen


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Crown Group’s penthouse in North Sydney up for auction from $3.8 mil

Author: leahlim   |  Publish date: Fri, 6 Dec 2019, 3:14 PM

Australian developer Crown Group has put up a penthouse at its North Sydney residential development for auction from A$4.1 million ($3.8 million).
The penthouse is part of Skye by Crown Group, a 20-storey building comprising 242 apartments, an expansive foyer, ground-floor retail outlets, a curved vertical “veil” enveloping the building’s exterior, a top-floor gym and an infinity-edged rooftop pool.


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Cushman & Wakefield appoints industrial and logistics team leader

Author: leahlim   |  Publish date: Fri, 6 Dec 2019, 12:01 PM

Cushman & Wakefield has appointed Brenda Ong to lead its industrial and logistics business in Singapore.
Ong has over 20 years of experience serving Singapore’s leading industrialists and logistics players. Her expertise includes negotiating leases with the government landlords on behalf of industrialists, and sourcing build-to-suit business premises for their business operations, according to Cushman & Wakefield.

Read more: https://www.edgeprop.sg/property-news/cushman-wakefield-appoints-industrial-and-logistics-team-leader


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Shake Shack to open new outlet in Duxton

Author: leahlim   |  Publish date: Fri, 6 Dec 2019, 8:48 AM

Shake Shack will be opening its second outlet in Singapore at 89 Neil Road, a conservation building managed and operated by The Working Capitol since 2017.
Shake Shack will be occupying more than 7,300 sq ft of the ground floor of 89 Neil Road, which is next to Duxton Plain Park and faces the flagship campus of The Working Capitol, at 1 Keong Saik Road.

Read more: https://www.edgeprop.sg/property-news/shake-shack-open-new-outlet-duxton


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