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20 office units in Parkway Centre up for sale

 
A portfolio of 20 strata-titled office units in Parkway Centre is being put up for sale via an expression of interest exercise, at a total indicative price of up to $34.6 million. Parkway Centre, in Marine Parade, is a 13-storey suburban commercial building with retail units on the first floor and office units from the second to 13th floors. The 20 office units on sale have a total strata area of 21,646 sq ft, with about 65 years left on the lease. Unit sizes range from 732 sq ft to 1,356 sq ft, ...more
 

Kim Chuan Drive site sold for S$40m

 
Singapore A FREEHOLD industrial site at Kim Chuan Drive has been transacted at S$40 million. The price works out to S$460 per square foot per plot ratio (psf ppr), without factoring in a small development charge that the buyer will have to pay to the state before redeveloping the site, said William Gan, founder of William Gan Realty, which brokered the sale. On the 34,730 sq ft site is an old three-storey property that used to house shop lots and domitories. All the units have been vacated, afte ...more
 

Stocks continue to slip on China worries

 
THE local stock market underwent another soft session on Tuesday with the Straits Times Index dropping 17.7 points or 0.6 per cent to 3,049.65 and the broad market excluding warrants recording 111 rises versus 354 falls. Turnover was a moderate 1.5 billion units worth S$1.2 billion and sentiment, which has been weak for several weeks, remained soft on worries over China's yuan devaluation last week. Over in Hong Kong, the Hang Seng Index lost 1.4 per cent as the Shanghai Composite Index plunged ...more
 

Lum Chang acquires UK commercial property

 
Singapore LUM Chang on Monday said it has signed a deal with UKI (Wembley) Limited to buy Kelaty House, a freehold commercial property in Wembley, north-west London, for �25.5 million (S$55.6 million). The property is located within the Wembley Regeneration Area near the iconic Wembley Stadium in an area that is rapidly transforming into a vibrant and dynamic neighbourhood, the Singapore construction group and property developer said. The property is about 1.03 hectares and is fully leased. It ...more
 

Tender for two more Dempsey blocks for F&B, retail use

 
Singapore THE Singapore Land Authority (SLA) and the Singapore Tourism Board (STB) will be conducting a tender to develop Blocks 17 and 18 Dempsey Road for food and beverage (F&B) and retail use, the two agencies jointly announced on Thursday. The tender for the two blocks within Tanglin Village opened on Thursday, and is targeted at strengthening the former army barrack's position as a unique lifestyle enclave, as well as encourage the further development of interesting lifestyle concepts in Ta ...more
 

CDL's next big monetisation moment: industrial properties

 
SOMETHING'S brewing at City Developments Ltd (CDL), and it may not be what some had been expecting since the developer's S$1.5 billion monetisation of its Quayside Collection assets in December. While market observers have tipped the South Beach mixed development project as the next big monetisation target for CDL, what's more likely to emerge is the group's exit from the industrial market. Here's why. Industrial properties are not core to the property and hotel group; CDL has not developed an i ...more
 

M&C pays $30m for Beatles theme hotel

 
Millennium & Copthorne (M&C) Hotels, a unit of Hong Leong Group, is buying the Beatles-inspired Hard Days Night Hotel in Liverpool, the famous pop group's hometown. M&C is acquiring the roughly 113 years left on the hotel's lease for �13.8 million (S$30 million), subject to standard purchase price adjustments, it said yesterday. The hotel was established in 2008 and has 110 guest rooms and suites, including the McCartney and Lennon suites. It marks M&C's 24th property in Britain and Europe. Ha ...more
 

Millennium & Copthorne to acquire Beatles-inspired hotel for �13.8m

 
Singapore MILLENNIUM & Copthorne Hotels (M&C) has agreed to acquire the Hard Days Night Hotel in the UK, the only Beatles-inspired hotel in the world. Established in Liverpool in 2008, the 110-room hotel located in the heart of Liverpool's famous Cavern Quarter is M&C's 24th property within the UK and Europe. M&C will acquire the hotel for �13.8 million (S$30.1 million) in cash, subject to standard purchase price adjustments, and completion of the acquisition is expected on or before Aug 19. T ...more
 
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