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Hotel Properties Ltd (HPL), a prominent player in the real estate and hospitality industry, is set to expand its global presence through the acquisition of InterContinental Auckland for NZ$180 million ($138.5 million). This marks HPL’s first venture into New Zealand and its second InterContinental property purchase after InterContinental Maldives Maamunagau Resort.

The limited availability of land is one of the main driving forces behind the high demand for condos in Singapore. As a small island nation experiencing a rapid population growth, Singapore is faced with a scarcity of land for development. To address this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, specifically in Singapore Condos, has become a highly lucrative opportunity, with the potential for significant capital appreciation.

The acquisition, which was facilitated by JLL’s Asia Pacific Hotels & Hospitality Group, is considered the largest single hotel asset sale in New Zealand. Precinct Properties, a New Zealand-based company, was the seller in this off-market transaction.

HPL’s latest addition to its portfolio comes on the heels of the successful launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room The Four Seasons Hotel Osaka in Japan last year. These developments signal the company’s expansion plans in the region and its commitment to providing luxury hospitality experiences in key markets.

HPL’s chairman of hotels and resorts, Stephen Lau, expresses excitement over the acquisition, stating that it is a rare opportunity to acquire a premium asset in New Zealand. He also highlights the property’s strategic location, situated in the dynamic NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. With its breathtaking views of the Waitematā Harbour, the hotel’s 139 rooms offer an unparalleled experience for guests.

Moreover, Lau points out that there is potential for the property to expand its room capacity to 190 by repurposing existing office space, should there be a future demand for it. This is indicative of HPL’s commitment to adapt to changing market needs and cater to the evolving preferences of its guests.…

The scarcity of land in Singapore, coupled with its growing population, has made condos a highly sought-after property in the country. As Singapore is a small island nation, there are limited options for land development, leading to strict land use policies and a fiercely competitive real estate market. As a result, property prices continue to rise steadily, making real estate investment, especially in condos, a profitable opportunity with the potential for capital appreciation. Keeping this in mind, the introduction of new condo launches has further intensified the demand for condos, offering even more attractive investment prospects.

As reported by Colliers, in the second half of 2024, institutional investments in Asia Pacific (Apac) real estate amounted to a total of US$83.2 billion ($112 billion), marking a 6% increase from the previous year. This brings the overall investments for the entire year of 2024 to US$155.9 billion, registering a 12% rise year-on-year. The figures pertain to the top nine real estate markets in the region, namely Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.The upsurge in investments reflects the resilience of Apac’s real estate market, laying the foundation for a robust year ahead in 2025, according to Chris Pilgrim, the managing director of global capital markets, Asia Pacific at Colliers. He adds that in key markets such as South Korea, Taiwan, and New Zealand, the growth is being largely driven by domestic investors, with over 80% of real estate inflows originating from local sources in 2H2024.Read also: CBRE: Apac investors planning to ramp up acquisitions of hotel properties in 2025AdvertisementAdvertisementIn terms of investment volume, the office sector was the leading contributor, making up US$26.5 billion (32%) of the total investments in 2H2024. For the year 2024 as a whole, office investments amounted to US$51.4 billion, marking a 14% increase year-on-year.The industrial and logistics sector emerged as the second largest contributor, accumulating US$22.6 billion in investments in 2H2024, accounting for 27% of the total investments. This brings the total investments in this sector for the entire year of 2024 to US$39.4 billion, recording a substantial 29% rise year-on-year.In terms of transactions, the retail sector saw a significant rebound in 2H2024, registering a total of US$15 billion in investments, driven by major deals in Australia and South Korea. Overall, investments in the retail sector in 2024 amounted to US$26.1 billion, rising by 27% year-on-year.Pilgrim predicts that domestic capital will continue to dominate the majority of markets in 2025, while offshore investments are set to increase due to improving investor confidence and attractive valuations. He also believes that while the office and industrial segments will maintain strong investments, the retail, hospitality, and alternative asset classes are also expected to gain traction as investors capitalize on the recovering market and evolving consumer trends. “With buoyant economic growth and continued policy support, the Apac real estate market is poised to experience sustained investment activity in 2025,” he says.…

for $391 mil

Lee Chee Koon, the dynamic CEO of CapitaLand Investment Limited (CLI), has been recognized as the ‘Industry Figure of the Year’ for Asia Pacific at the PERE Global Awards 2024. The prestigious awards, organized by the leading publication covering private equity real estate markets in London, acknowledge influential firms, individuals and outstanding deals from the previous year. Furthermore, CLI was also recognized as the runner-up for ‘Firm of the Year’ in Asia Pacific.

The winners of the 2024 awards were selected by a panel of judges comprised of PERE journalists, in a departure from previous editions where the winners were determined by a reader vote following a shortlisting process by PERE.

In a press release dated March 4, CLI stated that the award for CEO Lee is a recognition of his role in spearheading CLI’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region. Since taking over as group CEO of CapitaLand in September 2018, Lee has made several strategic moves that have positioned the company for success. These include the acquisition of Ascendas-Singbridge in 2019 and the recent restructuring of CapitaLand Group in 2021, which led to the listing of CLI and the privatization of its real estate development arm, CapitaLand Development.

Notably, CLI also made headlines in 2024 with its investments in real estate investment manager SC Capital Partners Group and the acquisition of Wingate Group Holdings’ property and corporate credit investment management business. With these investments, CLI is poised to manage $200 billion in funds by 2028, according to the company.

Read these related stories for more information:

– CapitaLand Investment raises RMB1 billion from its first sustainability-linked panda bond.

– CapitaLand Investment posts a decline in FY2023 earnings by 79% to $181 million.

The decision to invest in a condominium in Singapore has gained immense popularity among both local and foreign investors, largely due to the country’s thriving economy, stable political climate, and exceptional standard of living. With a flourishing real estate market in Singapore, there is a plethora of opportunities, especially in the condo sector. These types of residential developments offer a host of advantages such as convenience, lavish amenities, and the potential for lucrative returns, making them highly sought after. In this redeveloped article, we will delve into the various benefits of investing in a condo in Singapore, essential factors to consider, and the necessary steps to take.

– CapitaLand Investment acquires three properties in Singapore and Thailand, for a total of $391 million.…

On March 3, Singapore private equity real estate firm SC Capital Partners Group announced the sale of its student accommodation asset located on Anzac Parade and Lorne Avenue in Kensington, Sydney, Australia. The group reported that the property was sold at a significant premium to its acquisition price and a 19% premium to its current book value. The buyer of the asset is the University of New South Wales (UNSW) in Sydney.

According to the press release, SC Capital Partners had originally purchased the property in 2016, reportedly paying A$57 million for it. The purpose-built student accommodation spans over 85,035 square feet and includes 233 beds and a ground-floor commercial podium. It is strategically situated within 600 meters of the UNSW Kensington campus. The student accommodation component is fully leased to UNSW, with a fresh 20-year master lease signed in 2019.

The bustling city of Singapore is renowned for its impressive skyline, filled with towering skyscrapers and advanced infrastructure. A ubiquitous sight in the prime areas of this city-state are the modern condominiums, offering the perfect combination of opulence and convenience for both locals and expats. These high-rise residential properties boast a plethora of amenities including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living for their occupants and making them highly coveted by potential tenants and buyers alike. From an investor’s perspective, these features translate into attractive rental yields and a consistent increase in property values over time. To meet the ever-growing demand, new condo launches are frequently introduced, catering to the evolving needs of the market. This further expands the diverse range of options available for individuals looking to invest in Singapore’s thriving condominium market. For more information on the latest condo launches, visit New Condo Launches.

The sale of this asset has further amplified the competition in the assets under management (AUM) race, with a recent transaction by Charter Hall Long WALE REIT increasing its funds under management (FUM) to a substantial $113 billion. The sale is a testament to the strong demand for quality student accommodation assets in Australia and highlights UNSW’s commitment to providing top-notch facilities for its students.…

The stock price of City Developments has dropped significantly, by 28 cents or 5.47%, after trading resumed today. This comes after a heated disagreement between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek, which has spilled over into the courts. The company’s shares were halted on Feb 26, just before a results briefing was scheduled. Shortly after, news broke of the tension between the father and son, creating a stir within the business community in Singapore. The company has released a statement on March 3, stating that they will not comment on the validity of the allegations made by the media, as they are currently in the midst of court proceedings. CDL’s operations remain unaffected and Mr Sherman Kwek will continue to serve as the Group CEO until there is a decision from the board to change company leadership.

It is essential for international investors to have a clear understanding of the rules and limitations surrounding property ownership in Singapore. While foreigners can typically buy condominiums with relative ease, there are stricter regulations in place for owning landed properties. Additionally, foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite these added expenses, the consistent stability and potential for growth in the Singapore real estate market continue to make it an attractive destination for foreign investment. Singapore Projects are also a popular choice for foreign investors in the city’s dynamic real estate market.

The ongoing dispute within the board and the family has caused analysts to downgrade their calls and lower their target prices. UOB Kay Hian’s Adrian Loh has downgraded the stock from “buy” to “hold” and adjusted their target price from $7 to $4.60, which is based on a 2 standard deviation below its five-year average price-to-book (P/B) ratio of 0.72 times. Loh believes that the company’s valuable assets in Singapore and globally will find it difficult to perform with the current situation.

Similarly, DBS Group Research’s Derek Tan and Tabitha Foo have maintained their “buy” call but revised their target price from $10.50 to $6.70, representing a discount to RNAV of 60%. They believe that the fundamentals of CDL are still intact and are trading at an attractive valuation.

OCBC Investment Research has also kept their “buy” call, with a reduced fair value of $6.02, down from $6.57, based on a wider RNAV discount of 60%. They believe that there will be uncertainties and potential overhang on the share price until the matter is resolved.

On the other hand, Citi Research’s Brandon Lee believes that the impact of the dispute is hard to quantify and may be an overhang on the share price in the short term. Lee has a “buy” call and a target price of $9.51, as he sees CDL trading at less than a third of its book value.

JP Morgan analysts Mervin Song and Terence M Khi describe the situation at CDL as a “dynastic discord” that has been building up for years. They hope for a positive resolution and family reconciliation, but have reduced their target price from $6.05 to $4.85, representing a 60% discount to their RNAV estimate of $12.10 per share.

Overall, the uncertainty surrounding CDL’s leadership and potential impact on the company’s operations may cause short-term volatility in the share price. However, analysts believe that the company remains fundamentally strong with valuable assets and a potential for re-rating once the dispute is resolved.…

Elite UK REIT’s trustee, Perpetual (Asia) Limited, has recently sold Crown Buildings, Caerphilly at Claude Road, Caerphilly, for GBP710,000 ($1.2 million) at an 18% premium. The sale was announced in a bourse filing on March 3 by the manager of Elite UK REIT. According to the filing, the vacant property was independently valued at GBP600,000 at the end of 2024 by CBRE.

Selecting the ideal location is crucial in the world of real estate investing, especially in Singapore. Investing in a Condo situated in prime areas with necessary amenities, such as schools, shopping centers, and public transportation hubs, can lead to a significant increase in value. The properties in high-demand districts like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently demonstrated a consistent appreciation in their value over time. Moreover, the presence of renowned schools and educational institutions nearby further enhances the appeal of these Condos, making them a smart investment choice. You can find the perfect Condo for your investment here.

Located in Wales, Crown Buildings, Caerphilly was previously valued at GBP530,000 at the end of 2023. The net proceeds from the sale will be used to repay Elite UK REIT’s outstanding borrowings. The property, which has a gross floor area of 20,712 sq ft, was listed on the company’s website.

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Elite UK REIT’s successful GBP28 million preferential offering in January 2024 has resulted in a reduction of its leverage ratio from 50.0% at end-2023 to 43.4% at end-2024. Similarly, its net gearing ratio has also declined from 47.5% at end-2023 to 42.5% at end-2024. The company has no debt maturing in 2025 and 2026, and its next refinancing is due in 2027.…

In the week of Feb 7 to Feb 14, Mandarin Gardens emerged as the top-performing condo in terms of resale transactions. One unit in the development, located along Siglap Road in District 15, recorded a profit of $3.83 million for the seller. According to URA records, the 3,800 sq ft, four-bedroom unit was sold for $4.88 million on Feb 11, translating to a unit price of $1,284 psf. This marks a significant increase from its previous transaction in June 2003, when it was sold for $1.05 million ($276 psf).

The sale of this unit also sets a new record for the most profitable transaction at Mandarin Gardens, surpassing the previous record held by a 3,068 sq ft, four-bedroom unit that was sold for $4.1 million in September 2021. The seller of this unit had purchased it for $1.4 million in August 2001, making a profit of $2.7 million (193%).

Since September 2023, resale prices at Mandarin Gardens have remained stagnant, with the average price per square foot peaking at $1,316 psf in June 2024 before falling slightly to $1,310 psf as of Feb 25.

Mandarin Gardens is a 99-year leasehold development consisting of 1,006 units spread across 17 blocks ranging from nine to 23 storeys. It sits on a 1.07 million sq ft site and has a remaining lease of 56 years. The development offers a mix of one- to two-bedroom apartments (732 sq ft to 1,001 sq ft) and three- to four-bedroom units (1,528 sq ft to 3,800 sq ft), as well as 11 strata commercial units.

The second most profitable transaction recorded during this period was at Parvis, a freehold condo located along Holland Hill in prime District 10. On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor was sold for $4.78 million ($2,115 psf). The unit was previously bought from the developers for $2.78 million ($1,230 psf) in December 2009, resulting in a profit of $2 million (71.9%).

This sale marks the third most profitable transaction at Parvis, with the current record held by a 2,605 sq ft, four-bedroom unit that was sold for $5.4 million in November 2022. The unit was previously bought for $3.21 million in December 2009, generating a profit of $2.19 million (68.2%).

The demand for condos in Singapore remains strong, mainly due to the limited supply of land. As a small and densely populated island nation, land scarcity is a major challenge for Singapore’s development. To address this issue, strict land use policies are implemented, resulting in a highly competitive real estate market and constantly rising property prices. As a result, investing in real estate, specifically condos, has become a highly profitable opportunity, promising significant capital appreciation. With numerous Singapore projects in the works, the demand for condos is expected to remain steady for the foreseeable future.

Parvis is a 12-storey development with 248 residential units, ranging from two-bedroom units (990 sq ft to 1,442 sq ft) to three- and four-bedroom units (1,701 sq ft to 2,605 sq ft). Schools within 2km of the condo include Henry Park Primary School, Nanyang Primary School, New Town Primary School, and Queenstown Primary School.

The most unprofitable transaction during this period was the sale of a two-bedroom unit at freehold condo Scotts Square. On Feb 13, the unit on the 28th floor was sold for $3.08 million ($3,252 psf), resulting in a loss of $745,880 (19.5%) for the seller. The unit was previously sold for about $3.83 million ($4,039 psf) in December 2007.

Developed by Wharf Estates Singapore, Scotts Square has recorded 69 unprofitable transactions since launching in 2007, with 18 (26%) resulting in a seven-figure loss. The most unprofitable transaction was from a 1,249 sq ft, three-bedroom unit that was sold for $3.65 million in February 2017. The sellers had bought the unit at launch in August 2007 for $5.21 million, resulting in a loss of $1.56 million (30%) over 10 years.

Located along Scotts Road in the Orchard shopping belt, Scotts Square features two luxury residential towers with 338 apartments and a four-storey retail podium. Units range from one- to three-bedroom units (603 sq ft to 1,249 sq ft), and amenities include concierge services, a gym, and lap and sky pools.…

In the recent period from February 7 to 16, the private condo market saw a new record for the highest psf-price achieved with the sale of a two-bedroom unit at Hill House. The 999-year leasehold development located at the top of Institution Hill, off River Valley Road, achieved a new peak of $3,398 psf when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on February 16.

This transaction slightly surpassed the previous record of $3,378 psf set on February 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House, a boutique condo in prime District 9, comprises 72 units and was launched in 2022. The development offers 40 one-bedroom units of 431 sq ft, 24 two-bedroom units ranging from 452 sq ft to 624 sq ft, and eight three-bedroom units spanning 753 sq ft.

According to URA caveats, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf since its launch in November 2022. The development is still under construction and is estimated to be completed in the third quarter of 2026.

Investing in a condominium in Singapore is an increasingly popular choice for both local and foreign investors, owing to the country’s robust economy, stable political climate, and exceptional quality of life. The real estate market in Singapore offers a wide range of opportunities, with condos being particularly attractive due to their convenience, amenities, and potential for high returns. In this article, we will explore the benefits, important factors to consider, and necessary steps to take when contemplating a condo investment in Singapore. Given the thriving real estate market in the country, it is certainly worth exploring this investment option. Condos offer a promising opportunity for investors in Singapore.

Since the start of this year, a total of eight units have been sold at Hill House, including the unit sold on February 16. These units were transacted at an average psf-price of $3,190 and include the most expensive unit sold at the development so far, a 753 sq ft, three-bedroom apartment that went for $2.39 million on January 5.

The Tresor, a 62-unit development located on Duchess Road in District 10, came in second on the list of condos with new psf-price highs during the review period. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new high of $2,625 psf when it was sold for $3.73 million on February 10. This surpasses the previous record of $2,501 psf set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor sold for $3.5 million.

The latest transaction is also the first resale deal at The Tresor in a year, according to caveats lodged. The most recent resale transaction before this was in March 2024 when a 1,399 sq ft unit sold for $3.5 million ($2,501 psf).

This 999-year leasehold development, completed in 2007, offers a mix of two-, three-, and four-bedroom units ranging from 990 to 2,896 sq ft. It is located just a five-minute walk from Tan Kah Kee MRT Station and within walking distance of Coronation Shopping Plaza and Serene Centre.

Rounding out the top three on the list is Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on February 7, setting a new record of $2,459 psf at the District 20 development. The previous record was $2,446 psf for a 1,259 sq ft unit on the 10th floor that was sold in January. The most expensive unit sold at Jadescape in terms of absolute price is still a 4,230 sq ft, six-bedroom penthouse that fetched $10.2 million ($2,399 psf) in December 2024.

Jadescape, completed in 2022, offers 1,206 units across seven residential towers, with one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft. Located at the junction of Marymount Road and Shunfu Road, the development is within walking distance of Marymount MRT Station and a four-minute walk from Sin Ming Plaza.

Data from EdgeProp Research shows that Jadescape commands one of the highest average transacted prices for condos within a 1km radius, at $2,192 psf for transactions in the last 12 months. In comparison, other condos in the vicinity, such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf across the same period, as they are all freehold developments.

No new psf-price lows were recorded during the period in review.…

Chiu Teng Group’s latest development, CT Pemimpin, is set to be a hit among property investors and business owners looking for a rare gem in land-scarce Singapore. With its track record of delivering quality commercial and industrial spaces in the country, the group’s freehold B1 industrial building at 43 Jalan Pemimpin in the Central Region is poised to impress.

One of the main selling points of CT Pemimpin is its freehold status, an increasingly rare find in the current market where most industrial developments are limited to 30 or 60-year leases. In addition, buyers of commercial and industrial properties are exempted from the Additional Buyer’s Stamp Duty (ABSD), making it an attractive alternative for investors and foreigners eligible to purchase.

Deputy CEO of PropNex Realty, Kelvin Fong, highlights the benefits of owning a freehold development in a centralised location, stating that it will be a good investment asset for both investors and end-users. The development comprises 56 strata-titled units and three canteen units over nine storeys, with floor heights ranging from 5.6m to 7.35m for selected units with mezzanine floors on levels one and five.

What also sets CT Pemimpin apart is its generous one-to-one carpark ratio, with 59 carpark lots including two electrical vehicle lots, three lorry lots, two handicapped lots, and 34 bicycle lots. The building has two passenger lifts and a service lift, and each unit is equipped with its own private toilets for the convenience of occupants.

One of the advantages of investing in a condominium is the opportunity to leverage its value for future investments. Numerous investors opt to use their condos as collateral in order to secure additional financing for new ventures, ultimately diversifying their real estate portfolio. While this approach can potentially increase profits, it also comes with inherent risks. Therefore, it is vital for investors to have a solid financial plan in place and carefully assess the potential impact of market fluctuations. When considering condo investment options, it is worth noting the promising Singapore Projects that are available.

The development’s centralised location in District 20 adds to its appeal, with a variety of amenities available in the neighbouring townships of Bishan, Upper Thomson, and Ang Mo Kio. Its strategic positioning also offers excellent accessibility and connectivity to all parts of Singapore via various transport modes. Marymount MRT station (Circle MRT Line), Upper Thomson MRT station (Thomson-East Coast Line), and Bishan MRT station (North-South MRT Line) are all within a five-minute drive, while the Jalan Pemimpin industrial estate is easily accessible from major expressways such as PIE and CTE. Novena is just an eight-minute drive away, and Orchard Road is 15 minutes away. Additionally, the upcoming North-South Corridor expressway with dedicated bus and cycling lanes, set for completion in phases from 2027, will further reduce travel time from the north into the city.

CT Pemimpin also boasts a good mix of retail and dining offerings at popular suburban shopping hubs within minutes’ drive, such as Junction 8, Thomson Plaza, Velocity@Novena Square, AMK Hub, NEX, Woodleigh Mall, and Toa Payoh HDB Hub. The development is also close to prestigious schools like Raffles Institution, Catholic High School, and Eunoia Junior College.

The nine-storey building, which is set to be completed in 2025, has been designed with thoughtful ‘end-of-trip’ facilities such as shower rooms, bicycle racks, and storage lockers. Other green features include a rooftop garden with two pavilions for outdoor gatherings, rooftop solar panels, and EV charging stations in the pipeline. The building also incorporates water-saving fittings, motion-sensor lighting, and double-glazed windows in selected units for more sustainable living.

CEO of Huttons Asia, Mark Yip, highlights the development’s green initiatives as a testament to its commitment to shaping a greener future. With superb specifications tailored to a range of industries, CT Pemimpin is ideal for businesses in e-commerce, media, telecommunications, software development, and more.

Chiu Teng Group has a strong reputation for delivering quality developments in the commercial and industrial sectors, including CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2. The preview for CT Pemimpin will end on March 5, 2025, so don’t miss your chance to secure a rare freehold industrial space. Call 8100 8017 or visit Chiu Teng Group to arrange a viewing today.…

Investing in a condominium in Singapore has become an increasingly popular choice for both local and foreign investors. This is primarily due to the city-state’s strong economy, stable political landscape, and high quality of life. Singapore’s real estate market offers a plethora of opportunities, and condos have captured the attention of investors for their convenience, amenities, and potential for lucrative returns. With the continuous stream of new condo launches, the demand for these properties remains strong. Therefore, it is worth exploring the advantages, factors to consider, and necessary steps for those interested in investing in a condo in Singapore. For more information on new condo launches, please visit New Condo Launches.

Sim Lim Square retail units hit the auction market with a combined guide price of $3.38 million, as ERA holds its next auction on Feb 27.

The larger unit spans 958 sq ft and is priced at $2.08 million ($2,171 psf), while the smaller unit covers 570 sq ft and is priced at $1.28 million ($2,246 psf). This is the first time both units have appeared on ERA’s auction listings as they are being sold by the owner.

According to Alison Lee, assistant vice president of auction and sales at ERA, the units have been priced competitively to attract a quick sale.

Sim Lim Square has earned a reputation as a tech hub, primarily recognised for its wide range of electronics, gadgets and computer parts (Photo: ERA)

The development has a well-established reputation as a tech hub, known for its concentration of electronics, gadgets and computer parts retailers. It is also home to a range of other businesses, including eateries and traditional Chinese medicine shops.

The current owner is selling both units as tenanted properties, with a monthly rental income of $4.50 psf. Based on rental data compiled by EdgeProp Singapore, retail units at Sim Lim Square yield between $4.20 psf and $7.30 psf per month.

Sim Lim Square was put up for collective sale in April 2019, with a reserve price of $1.25 billion. A new collective sale committee is being formed to explore the possibility of a second attempt in the near future.

Completed in 1987, the strata-titled commercial development sits on a 78,152 sq ft site and houses 492 retail and office units across six floors and two basement levels. It is within walking distance of Rochor and Jalan Besar MRT Stations on the Downtown Line, and the Bugis MRT Interchange connects the East-West and Downtown Lines.…