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Subscribe to this list via RSS Blog posts tagged in Rentals of offices in Marina Bay

Aon nears 70,000 sq ft lease at SGX Centre

Posted by Property Launch Invest on Thursday, 12 June 2014 in Property News

The buzz in the Singapore office leasing market continues, with a string of deals either sealed or in advanced stages of negotiations.

Vodafone has leased a 30,000 square foot floor at Asia Square Tower 2. Jardine Lloyd Thompson is said to be nearing an agreement to lease 40,000 sq ft at CapitaGreen, which will be completed on the former Market Street Car Park site by year-end.

At SGX Centre 1 along Shenton Way, insurance broker Willis (Singapore) has signed a lease for 20,000 sq ft, while discussions are in an advanced stage for Aon to occupy about 70,000 sq ft, BT understands.

Despite the wave of office leasing activity, industry observers caution landlords against getting carried away in jacking up asking rents, as not all occupiers are on the expansion trail.

Strong take-up in office leasing market for Q1

Posted by Property Launch Invest on Saturday, 12 April 2014 in Property News

Gross average rents rise 3.9-4.5% on improved occupancy

THE office leasing market recorded another quarter of strong take-up during Q1 this year, with average gross rental rates in the central business district (CBD) rising between 3.9 to 4.5 per cent quarter-on-quarter from higher occupancy rates, according to research by DTZ.

Average monthly per square foot rents ranged between $8 in Shenton Way, Robinsons Road and Cecil Street, to around $11.50 in Marina Bay. Occupancy rates at these areas, at 97.9 per cent and 88.1 per cent respectively, were higher than the previous quarter.

Office market ends 2013 with higher rents, occupancy

Posted by Property Launch Invest on Sunday, 12 January 2014 in Property News

The office market ended 2013 on a firm footing with occupancy rates, rents and capital values all higher than the year before, said property consultancy Colliers International.

The average monthly gross rent of Premium and Grade A office space in the Central Business District (CBD) climbed 2.2 per cent from the third quarter to reach $8.72 per sq ft at the end of December, the highest level in two years.

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.

Office rents and vacancy rates improving: C&W

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

[SINGAPORE] Led by Marina Bay, the office market is starting to see rents and vacancy rates improve, supported by more broad-based leasing demand.

According to Cushman & Wakefield (C&W), Marina Bay saw Grade A vacancies decline 2.0 percentage points to 3.6 per cent from the first quarter, even as rents rose 10.9 per cent on a quarterly basis.

This led to an increase in average Grade A rents by 4.2 per cent to $9.03 per square foot (psf) per month quarter-on-quarter.

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

Gross average rents rise 3.9-4.5% on improved occupancy

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