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Monthly Property Reports March 2008 Report In The News
Monthly Property Reports March 2008 Report In The News | In The News |
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HDB offers 278 flats for sale. The Housing and Development Board (HDB) has launched its fifth bi-monthly sales exercise of 278 flats spread over 13 estates.
In The News
The Housing and Development Board (HDB) has launched its fifth bi-monthly sales exercise of 278 flats spread over 13 estates. The units comprises of 194 four-room, 64 five-room and 20 executive flats. Toa Payoh had the largest number of flats available at 119, followed by Tampines with 39 and Bukit Merah with 30. Standard Chartered Bank leases Changi office for S$206 million Standard Chartered Bank (Stanchart) has signed a S$206 million deal to lease a build-to-suit building at Changi Business Park (CBP) to house its backroom operations from 2010. The six-storey building developed by Ascendas Land will have 225,000sqft of space in Phase One to house up to 2,000 backroom staff. As the bank’s business grows, it could add a second and third phase to increase its space to 700,000sqft. Stanchart will lease the space for 15 years with an option to renew the lease. SLA puts six houses up for rent The Singapore Land Authority (SLA) has offered four bungalows and two semi-detached houses for rent. Four of the six properties are located in the Seletar Airbase vicinity. The other two properties are on Gibraltar Crescent in the Sembawang area and at Lornie Road. SLA is expected to put out eight more properties for rent in March and about 36 units in total by the first half of this year. Prudential in 14-year lease for Scotts Road site A four-storey building on the transitional office site located along Scotts Road will be completed in September at a cost of about S$75 million. The entire block has already been leased to Prudential, which has locked in an unusual rental agreement that will last for an effective 14 years. Prudential will pay S$6.50psf per month, or S$975,000 per month based on 150,000sqft of space. BBR Holdings wins S$93.5 million Ascendas contract BBR holdings has won a S$93.5 million contract from Ascendas to build an office tower at the International Business Park in Jurong East. The tower is expected to be completed by August 2009. The project featuring two 12-storey tower blocks linked by a sky bridge sits on a 192,222sqft site. The towers, when completed, will have a gross floor area of 451,761sqft. Stake sold in 79 Anson Road The 23-storey freehold office building located on 79 Anson Road has changed hands for the third time in about two years. FAM Maximilian Real Estate Investment Fund, managed by Ferrell Asset Management, has sold its 55% stake in the property to a SEB Asset management fund for S$215 million. The price works out to about S$1,937psf based on a lettable area of 110,976sqft. Chiu Teng tops record 20 bids for Jalan Sultan site The tender for a commercial site located at Jalan Sultan attracted a total of 20 bids. The highest bid came from Chiu Teng Estates Pte Ltd at S$14.8 million or S$974psf of site area. The 15,200sqft, 99-year leasehold site comprises 17 two-storey conservation shophouses that need to be restored. Straits Trading launches 28-storey office tower A new 28-storey Grade A office tower located along Battery Road has been launched by Straits Developments, a subsidiary of Straits Trading Company. Expected to be completed by the third quarter of 2009, the new Straits Trading Building will have 160,000 sq ft of lettable office space, about 8,300 sq ft of office space per floor for a maximum of two tenants. Information compiled with the help of Savills Singapore. |
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