Residential

EC along Anchorvale Lane released for sale

The executive condominium (EC) site along Anchorvale Lane was released for sale. It was the only EC on the Confirmed List of the Government Land Sales (GLS) programme for this year. Property consultants believe the site could draw interest from developers who have had residential projects in the north-east region. They, however, also expect demand to be low due to an oversupply of unsold ECs in the region.

(Source: Business Times)

Prices of completed apartments and condominiums down by 0.8%

Based on flash estimates by NUS, prices of completed private apartments and condos fell 0.8 per cent in May and the prices of units in non-central areas fell by one per cent. Units in the central region underwent a 0.5 per cent price decrease in May. ERA Realty key executive officer Eugene Lim opines that prices of small units and non-central units were affected by high numbers of project completions and low rental demand while centrally located units were affected by cautious buyers looking for the best deals.

(Source: Business Times)

LHN nominee to buy Beach Road carpark property

Metropolitan Parking Pte Ltd, nominee for property management services provider LHN Group, has exercised an option to buy from Ottowest Pte Ltd a carpark property for S$26 million. Metropolitan Parking is required to pay a deposit amounting to 5 per cent of the purchase price. Metropolitan Parking’s internal resources would fund the purchase. This would be shared equally between its shareholders LHN Parking (GMT) Pte Ltd (LHN GMT) and GMTC Private Limited, and through Metropolitan Parking’s bank borrowings.

(Source: Business Times)

Commercial

Office building at 110 Robinson Road up for sale

OCBC has put up for sale a 12-storey freehold office block at 110 Robinson Road, with an indicative price of S$45 million. This translates to about S$3,162 per square foot based on the building’s net lettable area (NLA) of 14,233 square feet. Market watchers suggest that the owners of the next door properties on either side will be looking keenly at the office block. The office buildings on both sides of 110 Robinson Road are offshore entities managed by Sin Capital Group which own Finexis Building at 108 Robinson Road; and Grace Global, which owns Robinson 112.

(Source: Business Times)

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