At the junction of Upper Thomson Road and Jasmine Road lies two freehold connecting shophouses, which are now up for sale via expression of interest (EOI) with a guide price of ten and a half million dollars. This equates to two thousand six hundred and sixty-five Singapore dollars psf for the floor area.

Standing two-storey tall, the properties occupy a total area of three thousand six hundred and fifty square feet and boast an existing floor area of thirty-nine hundred and forty square feet. The area is designated for both residential and commercial use, with a gross plot ratio of three, and a building height limit of four stories, in line with the 2019 Master Plan.

With an array of amenities and services in close proximity, the shophouses are just fifty metres away from the local shopping mall, and a minute’s walk from Upper Thomson MRT Station, with the Caldecott …

At 52 to 62H Tanjong Katong Road, the owners of a 26-unit walk-up development have relaunched the property for tender at a guide price of $63 million. The four-storey site, located in District 15, first had an asking price of $65.5 million last July and generated several offers below the figures.

Spread over 32,397 sq ft, the property has a land rate of $1,401 psf ppr – including an estimated land betterment charge of $530,000. This rate could be further lowered to $1,375 psf ppr once factoring in an added 7% bonus balcony floor area.

With a gross plot ratio of 1.4, the development has the potential to yield approximately 45,356 ft of gross floor area after improving the site. This could potentially have 49 residential apartments with an average size of 915 sq ft.

The collective sale property is situated in a desirable location. It enjoys a 10-minute drive …

Reinvigorated interest in tourism, given the global pandemic situation, has spurred the sale of two conservation shophouses at 6 and 7 Perak Road in Singapore. As they are zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties. With an expected guide price of $13 million, this works out to $2,425 psf on the total floor area.

The two-storey shophouses, with mezzanine space and boasting a build-up area of 5,360 sq ft and occupying a land area of approximately 2,870 sq ft, have an 11.4m-wide frontage along Perak Road. Additionally, the properties have approval for usage as a backpackers’ hostel and are a mere three-minute walk from Rochor MRT Station.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, notes that these well-maintained structures require minimal refurbishments and, being located in the Little India/Jalan Besar area, enjoy strong rental demand.

With …

Sandeep Sethi has been appointed as Division President of Work Dynamics in Asia Pacific by JLL. Sethi will bring 27 years of corporate experience, 10 of which were with JLL, to the role. He is currently the Managing Director and Head of Work Dynamics for West Asia.

As Division President, Sethi will be responsible for providing integrated facilities management, construction management services, sustainability and workplace consulting, workplace experience and lease transaction management for occupiers, along with overseeing services delivered to clients in North Asia, and developing and growing JLL’s North Asia market share in Mainland China and Hong Kong.

Under his new role, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific. Koul commented; “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 …

Sandeep Sethi has been appointed as the Division President of JLL’s Work Dynamics in Asia Pacific. Sethi previously served as Managing Director and Head of Work Dynamics for West Asia, where he was responsible for managing over 160 million square feet of office space across 1,500 client sites in India, Sri Lanka, Mauritius and Bangladesh.

In his new role, Sethi will expand his portfolio to include North Asia, overseeing services provided to clients, and growing JLL’s North Asia market share in mainland China and Hong Kong. Based in Gurgaon, Sethi will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific.

Commenting on his appointment, Koul said: “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 …

The property at 1 Benoi Road in Singapore’s Jurong Industrial Estate has been launched for sale at an expression of interest (EOI) exercise and a guide price of $11.3 million. This site of a shipyard has a site area of over 500,000 sq ft with waterfront access.

Located at the junction of Benoi Road and Pioneer Road, it’s approximately 24km from the City Centre and nearby housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Additionally, the property has easy access to the island’s highways – the nearby Ayer Rajah Expressway and Pan-Island Expressway. Joo Koon MRT Station is just a five minute drive away.

Associate Division Director of Huttons Asia, Isabel It, describes the plot as regular in shape and possessing a corner frontage of 255m on Benoi Road and Pioneer Road with an average plot depth of 213m. The land also has a …

Sold! Singapore residential land prices soar, setting new GLS records

The 99-year leasehold residential government land sale (GLS) site at Lentor Gardens closed today with only one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr).

According to Mark Yip, CEO of Huttons Asia, the bid of $958 psf ppr is the lowest for a land parcel in the Lentor precinct and it is also the first residential GLS tender to receive only one bid since the tender of the Silat Avenue GLS site in 2018. The site was launched as the 1,074 unit Avenue South Residences in September 2019 and is now fully sold.

The last two residential GLS sites to be sold in Lentor were in Lentor Central and Lentor Hill …