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SINGAPORE (EDGEPROP) – Local property developer Fragrance Group has recently acquired Katong Plaza in Marine Parade for $180 million, in its bid to tap into the growing hospitality market in the east. The sale price translates to a land rate of $1,809 per square foot per plot ratio (psf ppr), inclusive of the land betterment charge.Katong Plaza, a mixed-use development with both commercial and residential units, is situated at 1 Brooke Road and boasts a freehold tenure. Of the total 132 strata retail units and 14 residential apartments within the development, owners of the retail units are set to receive proceeds ranging from $502,000 to over $6 million, while owners of the residential apartments can expect between $2 million and $5.1 million. The brokerage of the sale was handled by Terence Lian, Huttons Asia head of investment sales.The current development, which sits on a 34,044 square foot land, boasts a …

Recently launched projects Past Condo rental transactions Most unprofitable landed transactions in past 1 yearIn a recent announcement, Edmund Tie revealed that the freehold commercial building, United House, located at 20 Kramat Lane just off Orchard Road, has been put up for a collective sale with a reserve price of $166 million. The collective sale is being managed by the renowned real estate firm.

This marks the first successful collective sale launch of United House, following three previous attempts that failed to garner 80% of owners’ consent in both strata area and share value, according to Edmund Tie.

Standing on a 12,838 sq ft site, the property has a plot ratio of 4.9 and is zoned for commercial use under the Master Plan. Edmund Tie states that the site has the potential to be redeveloped into a 10-storey commercial building with a gross floor area (GFA) of up to 62,900 …

Colliers International has recently announced the appointment of Nicholas Menville as executive director and head of industrial clients based in Singapore. Menville brings with him over 19 years of experience in commercial real estate, with a strong background in transaction, leasing, development, and project management. He has worked across a variety of sectors, including industrial, logistics, data centre, office, and living.

Prior to joining Colliers, Menville was the managing director at Omega RE, a boutique real estate advisory firm. He has also held various positions at BNP Paribas Real Estate, Disneyland Paris, and French construction company Bouygues Group.

In his new role, Menville will report to Bastiaan van Beijsterveldt, managing director for Singapore at Colliers. With Menville on board, the company aims to further strengthen their capabilities and expertise in the industrial sector in Singapore. This move comes as no surprise, as Singapore’s industrial property market is expected to grow …

Savills Singapore is inviting expressions of interest (EOI) for a two-storey commercial shophouse located at 15 Ann Siang Road. The 999-year leasehold property, which spans approximately 1,302 sq ft with a gross floor area of 2,476 sq ft, is being offered for sale at a guide price of $12.38 million, which works out to $5,000 psf based on its floor area.

According to EP Buddy’s research on the latest commercial transactions along Ann Siang Road, the shophouse has been zoned for commercial use. Currently, the ground floor is occupied by a F&B outlet while the upper floor is largely unused. However, the tenancy agreement for the ground floor unit is set to expire soon, providing potential buyers with an opportunity to review the rent.

What makes this property even more attractive is its prime location. It is within walking distance to Maxwell MRT Station along the Thomson-East Coast Line, Telok …

Local supermarket operator Sheng Siong Group has agreed to purchase a portfolio of properties at Siglap V and Toa Payoh for a total consideration of $48.5 million. The portfolio, currently owned by investment holding company Jelita Property, is being sold by Hong Kong-based retail company DFI Retail Group (DFI).

The sale, which was handled by exclusive advisor JLL, was announced in April this year. At the time, the guide prices for the eight units at Siglap V and the Toa Payoh unit were $32 million and $16.5 million respectively. This translated to approximately $3,012 per square foot for Siglap V and $1,696 per square foot for the Toa Payoh unit.

The final sale price agreed upon by Sheng Siong is $1.7 million above the combined guide price from April. The transaction is expected to be completed on October 30.

In a recent filing to the Singapore Exchange, Sheng Siong revealed …

This exclusive opportunity to purchase a freehold corner strata retail unit at Lucky Plaza shopping mall, situated in the prime location of Orchard Road, has recently been put on the market for sale. The prestigious property, which spans over 8,800 square feet, is the third largest unit within the mall and is now available for purchase through private treaty. Marketing for the property is exclusively handled by JLL, one of the leading real estate firms in the industry.The impressive unit is located on the sixth floor of Lucky Plaza and is currently being offered at an indicative price of $32 million. This amounts to a reasonable rate of $3,617 per square foot on the strata area. The unit has the added convenience of direct lift and escalator access, making it highly attractive to potential buyers. The space is currently fully occupied by two separate retail operators, and the sale of …

Singapore-based City Developments Ltd (CDL) is preparing to unveil its latest property development, Norwood Grand, with a preview on October 4 and its launch scheduled for October 19.

Located on a 99-year leasehold, 155,351 sq ft site, this private condominium consists of four 11-storey blocks with a total of 348 units. These units offer a mix of one-bedroom-plus-study to four-bedroom premium-plus-study options, ranging in size from 495 sq ft to 1,335 sq ft.

The starting prices for these units are $988,000 ($1,996 psf) for a one-bedroom, $1.238 million ($1,984 psf) for a two-bedroom, $1.698 million ($1,923 psf) for a three-bedroom, and $2.238 million ($1,908 psf) for a four-bedroom plus study.

Norwood Grand is situated on Champions Way, off Woodlands Avenue 1, and was acquired by CDL in a government land sale (GLS) tender in September 2023 for $294.889 million ($904 psf per plot ratio). This winning bid was the highest …

CapitaLand Ascott Trust (CLAS) has announced their plans to acquire lyf Funan Singapore, owned by Ascott Serviced Residence Global Fund (ASRGF), at an agreed value of $263 million. ASRGF, which owns Victory SR, will transfer 100% of their interest in lyf Funan Singapore to CLAS, with the latter’s sponsor, The Ascott Limited holding a 50% stake in ASRGF.

This deal was announced in a press release on Oct 1, where CLAS stated that the purchase consideration will be $146.4 million, mainly financed by the proceeds from the divestment of Citadines Mount Sophia Singapore, which was completed in March 2024. This divestment was made to a joint venture between Weave Living, a Hong Kong-based accommodation company, and Blackrock, a global asset manager, for $148 million.

Upon completion of the proposed acquisition, CLAS will enter into a master lease agreement with Ascott for lyf Funan Singapore, subject to approval at an extraordinary …

Mapletree Industrial Trust (MINT) has announced its plan to acquire a multi-storey mixed-use facility with a data centre in Tokyo, Japan for JPY14.5 billion ($129.8 million). This proposed acquisition will expand MINT’s portfolio and increase its effective economic interest to 98.47% in the property. The remaining amount of the purchase consideration will be funded by MINT’s sponsor, Mapletree Investments.

The building, which was built in 1992, occupies approximately 91,200 sq ft of freehold land and has a total gross floor area of 319,300 sq ft. Currently, it is fully leased to a Japanese conglomerate with a weighted average lease to expiry of five years. The lease agreement gives the tenant the option to renew their lease.

According to MINT, the location of the property offers a promising opportunity for future redevelopment and added value. The growth of data centres in West Tokyo has resulted in an increased demand for data …