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Subscribe to this list via RSS Blog posts tagged in Central Business Districts CBD Rentals

New office building CapitaGreen secures three new tenants

Posted by Property Launch Invest on Saturday, 10 May 2014 in Property News

SINGAPORE - CapitaGreen the newest 40-storey Grade A office building in Singapore's central business district (CBD), has secured its first three tenants.

Commodities trading giant Cargill has signed on for 51,000 sq ft, and the Singapore unit of Swiss private bank Bordier & Cie is leasing more than 12,000 sq ft.

The third tenant will be an international gym operator which plans to launch a new club and lifestyle concept at CapitaGreen with 18,000 sq ft, said the development's joint venture partners - CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia - on Tuesday.

Barclays S'pore to move more staff to CBD

Posted by Property Launch Invest on Thursday, 17 April 2014 in Property News

Barclays, the UK's second-largest bank by assets, is moving more employees to an office in Singapore's central business district from the suburbs to cut costs, people familiar with the matter have said.

Barclays will terminate its lease on about 15,500 square feet of office space at a building in Tampines, an eastern suburb, and relocate the employees to Marina Bay Financial Centre (MBFC) by July, said one of the people, who asked not to be named because the information is private. About 300 people who work in back-office roles will be affected, the person said. Barclays declined to comment in an emailed response.

MRT network eroding prime offices' premium

Posted by Property Launch Invest on Monday, 27 January 2014 in Property News

Rental discounts decreasing over time

[SINGAPORE] With the expansion of the MRT network here improving accessibility across the island, the rental differences between prime office and decentralised office space are expected to continue narrowing.

As at the fourth quarter last year, gross average office rents in Tampines were 46 per cent lower than those in Raffles Place; those with office space in Jurong East enjoyed 25-35 per cent discount off Raffles Place rents.

Office spaces closer to town had smaller differences: Novena rents were 15 per cent less than Raffles Place ones, based on DTZ's figures; Buona Vista and HarbourFront were 18 per cent and 21 per cent lower respectively.

Rabobank inks lease at South Beach Tower

Posted by Property Launch Invest on Tuesday, 24 December 2013 in Property News

At MBFC Tower 3, Booking.com takes 45,000 sq ft in fresh sign of office buzz

[SINGAPORE] A steady stream of office leasing deals has been inked of late in the CBD, showing that demand in the market still has legs.

In what is believed to be the first leasing deal at South Beach Tower, Rabobank is said to have signed a lease for about 26,000 square feet. It will be moving out of 77 Robinson Road. DTZ is said to have advised Rabobank.

Vacated Citi space at Millenia Tower taken up

Posted by Property Launch Invest on Monday, 23 December 2013 in Property News

REFLECTING resilient demand for secondary office space vacated in older but choice office buildings, all of the 143,000 square feet under Citi's lease at Millenia Tower expiring next month has found new takers.

Citi began to vacate the space earlier this year, completing its exit from the building in July. This marked the final leg of the group's four-phase departure from Millenia Tower and the next-door Centennial Tower that began in 2011.

CBD office rents 'bottoming out'

Posted by Property Launch Invest on Monday, 23 December 2013 in Property News

OFFICE rents in the Central Business District (CBD) look to be bottoming out after a period of decline, while those in the CBD fringe are rising, according to a DTZ report yesterday.

Occupancy rates have also climbed islandwide, largely due to a decrease in supply, the property consultancy added.

KepReit's S'pore assets fully leased

Posted by Property Launch Invest on Saturday, 21 December 2013 in Property News

KEPPEL Reit has achieved full occupancy at its five Singapore properties, after Ocean Financial Centre (OFC) became fully leased.

The manager for the commercial real estate investment trust, Keppel Reit Management, said yesterday that both the office and the newly completed retail space at OFC have been completely taken up.Said Ng Hsueh Ling, CEO of the Reit manager: "We have steadily signed on tenants to achieve full occupancy, from approximately 80 per cent when we acquired Ocean Financial Centre in December 2011."

Internet firms drive growth in Grade A space rentals

Posted by Property Launch Invest on Friday, 29 November 2013 in Property News

2014 seen as another healthy year, with steady, sustainable rental growth

GROWING demand for Grade A space from consumer Internet companies is setting a new trend in the central business district (CBD), an area traditionally monopolised by financial institutions. These firms are taking up large spaces in prime Grade A buildings at market rates, even as rents inched up this quarter due to healthy demand and no new supply.

Rents at the top-performing sub-market, Marina Bay, were $11.80 per square foot (psf) per month, after inching up 0.85 per cent from Q3's $11.70 psf per month. Elsewhere in the CBD, Raffles Place saw rents increase 0.67 per cent quarter on quarter to $9 psf per month, while Shenton Way's rents increased 0.99 per cent to $8.20 psf per month.

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

At MBFC Tower 3, Booking.com takes 45,000 sq ft in fresh sign of office buzz