Industrial building in Tai Seng for sale at $23 mil
A six-storey industrial building at 17 Tai Seng Drive, also known as Yew Lee Building, is on the market for $23 million, announced the sole marketing agent Cushman & Wakefield.
The property is a purpose-built, single-user, detached industrial building. It has a gross floor area of about 70,011.6 sq ft, and sits on a JTC-owned plot of 34,109.7 sq ft. The land has a leasehold tenure of 30+30 years from Feb 1, 1993, and has 34 years left on its lease. The site is zoned for Business 2 use with a plot ratio of 2.5 under the 2019 Draft Master Plan.
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Freehold properties in Balestier and East Coast for sale
Two freehold properties have been put up for sale by public tender. The first is a single-storey property at East Coast Road which has a guide price of $20 million (or $8,726 psf on the floor area), and the other is a four-storey, mixed-use building at Balestier Road, which has a guide price of $26.8 million ($1,568 psf on the floor area).
Mega unit at Ritz Carlton Residences going for $22 mil
A 5,662 sq ft, single-floor mega unit on the 15th floor of Ritz Carlton Residences in Cairnhill is for sale at $22 million ($3,955 psf). This unit used to be two separate three-bedroom units; however, KOP Ltd, the developer, decided to rebuild it into a larger single unit.
“We did this because we feel that there is a demand for big units,” says Leny Suparman, CEO and executive director of property and hospitality group KOP. “A lot of penthouses are typically over two to three floors, but this is for those who are looking for a single-floor spacious home.”
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CapitaLand completes $11 billion acquisition of Ascendas-Singbridge
CapitaLand announced on June 30, the completion of its acquisition of all the shares in Ascendas Pte Ltd and Singbridge Pte Ltd from Temasek Holdings. The acquisition, valued at $11 billion, was first announced on January 14, 2019. It will create one of Asia’s largest diversified real estate groups with over $123 billion in assets under management.
The transaction is said to have received “overwhelming approval” from CapitaLand’s independent shareholders at an extraordinary general meeting held on April 12.
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Alexandra Technopark secures Google as major tenant
A trustee of Frasers Commercial Trust (FCOT) has entered into a lease agreement with Google Asia-Pacific for the latter to lease space at Alexandra Technopark.
Google will take up around 344,100 sq ft of space or around 33.3% of the current total net lettable area of the property.
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Luxury bungalow in Kheam Hock sold for $13.28 mil
A brand-new freehold luxury bungalow in the Kheam Hock landed housing estate was sold for $13.28 million ($2,586 psf).
The 2½-storey house, which sits on 5,137 sq ft of land, is one of three bungalows along Narooma Road developed by boutique real estate developer Lighthouse Developments.
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Hong Kong's home prices are so scary, people will live with ghosts to get a discount
Which is more frightening: a haunted house or one that takes a lifetime to save up for? For most people Hong Kong's sky-high property prices are a more terrifying prospect than the thought of living with ghosts, if a recent survey is anything to go by.
More than half of the respondents quizzed by Squarefoot, an online property portal in Hong Kong, said they would consider living in a home which hides a tragic past " if the price was right.
