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Subscribe to this list via RSS Blog posts tagged in South Beach Residences

Developer rejected $26m offer for South Beach unit

Posted by Property Launch Invest on Saturday, 02 April 2016 in Property News

The developer of the South Beach Residences condo in the inner city turned down an offer of $26 million for one of its penthouses last year because it wasn't the right time to launch the project.

The firm's spokesman told The Straits Times yesterday: "We did not want to conduct any piecemeal sale of South Beach Residences. The plan has always been to launch sales when conditions are right. Currently, the high-end property market is very quiet."

The 190-luxury apartments, which are expected to be completed in the first half of next year, are part of the mixed-use South Beach project in Beach Road.

Mixed reactions to South Beach

Posted by Property Launch Invest on Saturday, 02 April 2016 in Property News

After eight years that involved a venture pull-out and a financial crisis hampering its completion, the South Beach is now standing out as the glamorous new kid on the block since it opened earlier this year.

With its two soaring towers standing at 34- and 45-storeys high, four conservation buildings, a hotel as well as retail and office spaces, it is Singapore's largest mixed- development project.

Among its tenants are cool, big-name companies such as aerospace company Boeing and social- media giant Facebook which, at 70,000 sq ft, is the anchor tenant at the South Beach Tower, which houses the office spaces.

Acclaimed French designer Philippe Starck was brought into the project to inject a sense of pizzazz. The South Beach - the super-trendy 654-room, five-star hotel - is his first hotel in Singapore.

He also designed the interiors for three out of the four heritage buildings in Beach Road.

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.

String of new malls to fire up shopping scene

Posted by Property Launch Invest on Thursday, 15 May 2014 in Property News

Shoppers can expect more places to splash their cash at with a string of new malls scheduled to open by the end of the year.

An estimated 1.9 million sq ft of additional shop space will be ready by December, comprising about half the 4.1 million sq ft expected to come onstream in the next four years.

Just last year, a total of 1.57 million sq ft of net lettable area opened at major retail malls.

Singapore no home for luxury developers as cooling measures bite

Posted by Property Launch Invest on Sunday, 11 May 2014 in Property News

Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world's most expensive real estate markets bite.

Sales of private homes, which account for just under one-fifth of the total property market, fell to their lowest in more than four years in January to March, official data showed this week. If the decline continues at the same pace for the rest of this year, analysts expect sales to halve from the 15,000 units sold in 2013.

13 new launches planned in coming months

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

Only 480 new private housing units were sold in March, compared to 739 units in February and 572 in January, pushing the total sales volume for Q1 2014 to 1,791 units, or the lowest quarterly level since late-2009, revealed a Savills report.

The low number of transactions is due to sluggish sales at new project launches, except for The Hillford which sold all of its 281 units, Riverbank @ Fernvale (84 percent of 211 units sold), RiverTrees Residences (73 percent or 218 units sold) and The Panorama (48 percent of 58 units sold). The 52-unit Cluny Park Residence also saw healthy interest prior to its official launch.

"In the secondary market, Savills analysis of caveats show that 1,010 private residential properties changed hands in the first three months of the year, representing a quarter-on-quarter fall of 26.8 percent." On an annual basis, sales volumes slumped 57.9 percent from 2,397 units in Q1 2013.

Despite the lacklustre sales, 13 residential projects are expected to be released in the next six months, including Pollen & Bleu on Farrer Drive, New Futura on Leonie Hill Road, Gramercy Park on Grange Road and Robin Residences on Robin Road.

St Thomas Walk homes highly priced

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

The market for luxury homes may be languishing in the doldrums recently but at least one enclave has been holding its own.

The cluster of private homes near St Thomas Walk, off the Orchard Road shopping belt, has notched up decent price gains, property consultants said.

The median price of new uncompleted homes in the area was $2,353 per sq ft (psf) as of the third quarter of the year.
That is a 25 per cent gain from that in the same quarter in 2009.

This translates to hefty prices for new projects. For instance, the upcoming 462-unit Twin Peaks was sold for a median price of $2,703 psf last month.

Price gains in the secondary market were even more substantial, with resale prices surging 46 per cent in about three years, narrowing the price gap between those and new homes.

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