Freehold Lucky Plaza retail unit being offered at an indicative guide price of $15 million

, ,

The Reserve Residences Jalan Anak Bukit floor plan

A ground-floor retail space at Lucky Plaza has been offered for sale via expressions of interest. The property is offered for sale at an estimated estimate of $15 million according to CBRE who is the sole agent in charge of the sale of the property.

The Reserve Residences Jalan Anak Bukit floor plan site is expected to yield up to 845 residential units with about 20,000 sqm set aside for commercial use.

If the unit is sold for this price that would be around $22,123 psf in the current strata area.

The 678 square feet retail space is situated near the main entrance to Lucky Plaza retail mall and is currently leased to a convenience store. It is a popular destination for shoppers because of its prominent position. According CBRE, the unit is located in a prominent area. CBRE the property has two frontages that runs on Orchard Road and the other in the mall’s inner arcade.

“This is a unique and exciting opportunity for owners and investors to buy the ground floor retail space within an existing mall located on Orchard Road. Orchard road-facing retail freehold properties are typically restricted and rarely available for sale.” states Michael Tay, head of capital markets, Singapore, at CBRE.

Foreigners and locals are able to buy the property and is designated as commercial. No additional buyer’s stamp tax as well as seller’s stamp duties will be assessed upon the purchase.
The property is likely to attract owners who profit from the shop’s prominent area, while investors will benefit from immediate rental opportunities from the property.

The exercise of expression of interest for this property expires on June 16.

/by

A new upcoming 504-unit luxury condo The Velaris Residences in Bridgetowne is set near to Manila, Philippines

, , ,

The Reserve Residences launch price

A leading international property developer Hongkong Land and Philippine real estate development company Robinsons Land have unveiled a new residential project in the Philippines named the Velaris Residences. The luxury development is located situated in Bridgetowne which is a mixed township and business park located between Pasig City and Quezon City.

The Reserve Residences launch price bid of $1.03 billion is based on the maximum GFA, the price is equivalent to a land rate of $989.4 psf ppr.

The Velaris Residences is being built through RHK Land Corp, a joint venture between Hongkong Land and Robinsons Land. Bridgetowne was the very first township that is integrated developed by Robinsons Land, itself the real estate division from Filipino company JG Summit.

The luxury condo that is coming up will comprise an apartment building with 45 floors and 504 units. The condo will have one-to-three-bedroom apartments with sizes ranging from 495 to 1,678 sq feet, in addition to onetwo bedroom terrace suite units that range from 780 sq ft to 1,318 sq feet. Four penthouse suites that are duplex, with four bedrooms that range between 3,190 and 3,480 sq feet, are also available.

The two, threepenthouse and four-bedroom units will come with an exclusive lift lobby and a central lobby will provide access to one-bedroom units. Additionally, the condo is expected to include four carpark floors made up of three floors of podiums and an underground level.

The developers claim they believe that the Velaris Residences incorporates a modern style that is contemporary. The interiors are designed with earthy tones that incorporate a blend of greys, browns and cream tones. These tones are enhanced by accents like Hong Kong-style metallic copper and rose gold accents.

Future residents can also avail an array of facilities and amenities, like a card and wine bar, a multilevel landscaping garden, and a SkyClub. Recognizing the hybrid methods to work, this apartment will also include a work space equipped with soundproof office pods as well as modern-day personal workstations.

Wellness and fitness Facilities include an Olympic-size pool, as well as a Japanese-style onsen and lounge. Residents can also take advantage of the golf simulator that makes use of cameras to let players practice their swing.

The developers are also planning to launch a mobile application that allows homeowners to make payments on condo fees or submit maintenanceable requests, contact the office of administration and reserve lockers with smart sensors for deliveries.

Philippine investment opportunity
The Velaris Residences is the first joint project of Hongkong Land and Robinsons Land. In the developers in a joint press announcement the Philippine residential real property market is a major growth opportunity in all Southeast Asian markets.

The country has a rapid-growing economy, the ability to withstand external shocks and also a price advantage when compared with other markets for residential properties that are located in the Southeast Asian region. “These factors provide a great opportunity for investors seeking property that has a high potential for upside,” the developers say.

According to research conducted from Colliers, Metro Manila last year had greater rent yields 3.9-5.7% compared to Singapore with yields of 3-3.3%. The same time frame, Bangkok recorded rental yields of 4.4-5.2%, Ho Chi Minh City saw rent yields of 3.7-4.8%, and Kuala Lumpur was able to record rent yields of 2.3-5.4%.

Real estate consulting business Santos Knight Frank also expects an increase in market for residence properties including condo rentals located in Metro Manila in the coming months, due to return of international borders, the increase in vaccine rates across the Philippines as well as an increase in office hours for employees.

The Philippines also benefit from an infrastructure expansion by the government, which includes new roads, railroads airport, subway and railway programs. The new infrastructure projects are enhancing the transport network within Metro Manila and encouraged the growth of new high-growth centers.

The Velaris Residences benefit of its location along the C5 road corridor, which links the towns of Quezon, Pasig, Makati and Taguig. The research conducted by Colliers estimates 5-year average compound annual rate (CAGR) for property developments along the economic corridor as 16.9%, nearly double Metro Manila’s CAGR forecast that is 9.2%.

Velaris Residences Velaris Residences are part of a three-tower residential scheme created by RHK Land. First, Cirrus, is a 40-storey condo with 1,371 units, which was unveiled in the year 2019.

The developers will host an international sale celebration in Singapore to show off The Velaris Residences during the April 21-22 weekends in the St Regis Singapore.

/2 Comments/by

Leasehold industrial building property will appeal to industrialists in Ang Mo Kio for sale at $27 mil

, , ,

The Reserve Residences showflat

A three-storey industrial property located at the 1 Ang Mo Kio Street 63 is available for sale at $27 million. In a news release issued from CBRE on May 19th the property is to be sold by private treaties. CBRE serves as the exclusive agent to market that industrial site.

The Reserve Residences showflat is taking advantage of the convenient location and the neighbourhood’s lush greenery with laid-back charm, the future owners can look forward to great living spaces.

The building is situated on an 87,340 square foot site with a 30-year + 30 year lease which began April 1st 1987. It means that 26 years remain in the lease. The land is classified as “Business 2” with the gross plot ratio being 2.5 according to the most recent master plan. Therefore, it is possible that the site could be developed to create a brand new industrial structure that could have a built-up area of 218,350 square feet according to CBRE. The current construction has a net floor space of 116,768 sq feet.

The current building has an enormous loading area as well as a carpark. It also has an additional office as well as a food court for staff. There is also a warehouse on the second and first floors, while the 3rd floor functions as an R&D or quality-control center. Four loading docks located on the ground floor are comprised of two cargo lifts of 2 tonnes that are accessible to the entire floor.

Based on Graeme Bolin, head of leasing and occupier services, logistic and industrial services in CBRE Singapore, the property “will attract industrialists looking to establish themselves in a reputable technology hub, as well as industrialists working in the advanced manufacturing, hi-tech and semiconductor industries”.

He also notes that the location doesn’t have any other industrial sites that could be redeveloped and that the current underused plot ratio will provide additional space for owners. “We believe of the fact that the 1 Ang Mo Kio Street 63 is a great opportunity for owners and investors too,” says Bolin.

/1 Comment/by

HDB flat at Blk 96A Henderson Road sold for $1.4 mil

, ,

The Reserve Residences Jalan Anak Bukit

The purchase of a 1,216 square foot five-room HDB flat in City Vue @ Henderson is the most recent HDB flat to hold the title of being the most expensive resales in the past, according to information from Huttons Asia. Resales from HDB indicates that the 41st floor flat was purchased for $1.4 million back in the month of May.

The Reserve Residences Jalan Anak Bukit is expected to yield up to 845 residential units with about 20,000 sqm set aside for commercial use.

City Vue @ Henderson, situated at the intersection at the intersection of Henderson Road and Tiong Bahru Road It is made up of five HDB blocks that are made up of two-to five-room HDB flats. The block in which the record-setting property was sold is located at the 96A Henderson Road, which is an eight-storey building that has stunning views of the neighborhood.

The purchase of this $1.4 million HDB flat is the first resale of the block this year. Prior to that, the highest-priced transaction at the block was the purchase of another 1,216 square feet five-room house that was worth $1.256 million at the time it was sold in November.

It is also possible that this record-setting price will be reverted within a short time since a similar five-room apartment in this block available for sale at $1.5 million. It is yet to be determined whether this unit is going to be sold at the current price.

“With construction delays caused by Covid-19, this nearly new property is a chance for buyers to purchase quick. It’s also uncommon to find new five-room apartments in estates that are mature,” says Lee Sze Teck the director of senior (research) of Huttons Asia. He says that the residents of the area are benefited by the facilities and transportation options close by. For instance, Tiong Bahru and Redhill MRT Stations that are located on the East-West Line — are near the property.

So far, the most expensive resales HDB flats have been sold over the last two years. In the past, the record was achieved by the sale the 1,151 sq ft five-room flat located on Cantonment Road for $1.388 million in March. Prior to that, a 1,291 square feet five-room DBSS unit located on Bishan Street 24 , was bought for $1.36 million in December.

/1 Comment/by

An attractive proposition for property developers and institutional investors into a strata-titled re-development

, ,

The Reserve Residences Far East

A freehold industrial building located at 21 New Industrial Road, off Upper Paya Lebar Road, is available for sale, with an approximate value in the range of $71million. The building will be auctioned through a public auction that expires on June 30 in accordance with a press release issued on May 18 from ERA Realty Network, the sole marketing agent for the property.

The Reserve Residences Far East partnership duo emerged winners for submitting a winning bid of $1.03 billion.

The property at 21 New Industrial Road is zoned “Business 1” with the gross plot ratio of 2.5 in the latest masterplan. It has a dual road frontage with one on Lim Teck Boo Road and the other on New Industrial Road.

The property is situated within Bartley as well as Tai Seng MRT Stations on the Circle Line as well as road connectivity via Upper Paya Lebar Road and Bartley Road East. It is also near to Paya Lebar ipark which houses offices for businesses like Mapletree 18, Breadtalk, Sakae Sushi, and Charles & Keith.

“Singapore is set to benefit from the growth in both local and foreign investments in the industrial and commercial property sectors. It’s not often that you see an industrial freehold development with potential for redevelopment in a city-fringe property being sold on markets,” claims Steven Tan the managing director of investments and capital markets of ERA Realty.

He anticipates high demand by property developers as well as institutional investors in particular because it is possible that the property could be developed as a strata-titled project or even a multi-user or single-user corporate headquarters.

/1 Comment/by

New co-living properties close to Farrer Park MRT is Dash Living on Kinta

, ,

The Reserve Residences new launch

The operator of Co-living Dash Living has opened two co-living properties in Singapore. The two new properties are the first standalone properties run through Dash Living. In the past, Dash Living worked with asset owners as well as hotel partners to develop its co-living services in Singapore.

The Reserve Residences new launch with a land area of 3.22 ha, the parcel situated at the junction of Jalan Jurong Kechil and Upper Bukit Timah Road enjoys a strategic location close to Beauty World MRT Station.

Dash Living on Mackenzie, the first property, Dash Living on Mackenzie is situated near Little India MRT Station on the North-East Line. The 40-room property offers compact fully furnished and en suite rooms available for lease. The tenants will have access the social lounge, which is ideal where they can dine or work together and laundry services that are pay-per-use, an outdoor kitchenette and rooftop space. The space for co-living is currently 95% of the space is occupied since the soft launch earlier in the year.

The other living co-living property can be found at Dash Living on Kinta close to Farrer Park MRT Station on the North-East Line. The 30 room building is furnished studios with ensuites as well as two-bedroom apartments. The property includes a rooftop garden that has an infinity pool and other facilities for tenants.

Dash Living offers minimum stays of three months as well as benefits like co-working passes as well as trial gym memberships and discounts on dining out and shopping.

“The launch of the first stand-alone properties in Singapore is a testament to our ongoing dedication to Singapore. We managed to achieve a stunning 90% utilization rate for Singapore in 2021. This signifies the increasing interest by Singapore clients,” says Aaron Lee who is the founder the CEO and founder of Dash Living.

As co-living is becoming more popular in Singapore The average length of stay is increasing which means that the marketplace is expected to benefit from the growing interest for shared living spaces the expert adds.

/1 Comment/by