At 5 and 7 Jasmine Road, off Upper Thomson Road, two freehold shophouses have been launched for sale via an expression of interest process. The guide price for the properties is $10.5 million – approximately $2,665 psf of floor area.

The two adjoining shophouses occupy a total area of 3,650 sq ft, with a combined floor area of 3,940 sq ft. The surrounding area is Marina Gardens Condo zoned as “residential with commercial at first storey” under the 2019 Master Plan; building height control is set at four storeys and there is a gross plot ratio of 3.0.

Notably, there is immediate rental income potential as the properties are for sale with existing tenancies, and ‘as is where is’ basis. The EOI closing date is May 8 at 3pm.

Just a minute’s walk away is Upper Thomson MRT Station (Thomson-East Coast Line) with Caldecott MRT Station (interchange with Circle Line) …

At 52 to 62H Tanjong Katong Road in Singapore, the owners of the 26-unit walk-up development have relaunched the property for tender with a guide price of $63 million. It was previously put up for collective sale in July last year with an indicative price of $65.5 million, but had received several offers below the asking price, according to sole marketing agency Huttons Asia.

Located with an area of about 32,397 ft, the site has been zoned for residential use with an allowable gross plot ratio of 1.4 according to the 2019 Master Plan. The potential to yield a gross floor area of 45,356 ft could potentially see 49 residential apartments with an average size of 915 sq ft being created.

The guide price for the land translates to a rate of $1,401 psf per plot ratio (psf ppr), with an estimated land betterment charge of around $530,000. After factoring …

, or $2,248 psf

The Bukit Batok EC two-storey shophouses, with mezzanine space, located at 6 and 7 Perak Road have been launched for sale via tender with a guide price of $13 million. This works out to a total floor area of 5,360 sq ft at a price of $2,425 psf. The properties occupy a land area of approximately 2,870 sq ft and feature an 11.4m-wide frontage along Perak Road.

Situated in the Jalan Besar/Little India precinct, the shophouses have approval for usage as a backpackers’ hostel and are a three-minute walk from Rochor MRT Station.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, notes that they are well maintained and require minimal refurbishments. The properties enjoy strong rental demand in a District 8 location which is surrounded by amenities and close to the Bugis area.

Despite this, the vendor is looking to sell the shophouses …

Sandeep Sethi has been appointed as the division president of JLL’s Work Dynamics in Asia Pacific. As the managing director and head of Work Dynamics for West Asia, Sethi has been instrumental in growing the business and forging deep client relationships for the past 10 years.

In his new role, Sethi is responsible for JLL’s North Asia market and will report to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific. He will be accountable for growing JLL’s North Asia market share in mainland China and Hong Kong.

A seasoned professional with over 27 years of corporate experience, Sethi is well-respected and an astute leader in the commercial real estate field. He is committed to developing and driving JLL’s client base across Asia Pacific.

Commenting on the new elevation, Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific said “Sandeep is an established leader and a respected client …

The property located at 1 Benoi Road in Jurong Industrial Estate is now open for submission of an expression of interest (EOI) with a guide price of $11.3 million. This 500,000 sq ft site is ideal for shipbuilding, ship repairs, and vessel maintenance and features a two-storey office block and three single-storey workshop blocks, as well as a mould loft building, a fabrication shop and wharf.

It is situated near housing estates including Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens and is approximately 24km from the City Centre. Accessibility is further eased by Ayer Rajah Expressway and Pan-Island Expressway, with Joo Koon MRT Station located a mere 5 minutes away.

Isabel It, Associate Division Director of Huttons Asia said that the land is generally at an access road level with a flat contour, measuring a corner frontage of 255m on Benoi Road and Pioneer Road, with an …

GuocoLand, Hong Leong Group and Singapore’s Intrepid Investments submit top bid of $486.8 mil for Lentor Gardens GLS siteToday, the tender for a residential government land sale (GLS) site at Lentor Gardens closed with just one bid from GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group). The joint venture partners submitted a bid of $486.8 million ($985 psf ppr) for the 99-year leasehold site. According to Mark Yip, CEO of Huttons Asia, the bid “is the lowest for a land parcel in the Lentor precinct” and the first residential GLS tender to see only one bid since the tender for the Silat Avenue GLS site in 2018.

The bid of $486.8 million for the 99-year leasehold site is the lowest for a land parcel in the Lentor precinct. GuocoLand and Intrepid Investments (a subsidiary of Hong Leong Group) are the joint venture partners of this residential government land …