Covid-19 Sparks Designer Sanctuary Home Turn to Our Cover Story on Pages 8,9 & 10
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PROPERTY PERSONALISED MCI (P) 045/08/2019 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of July 20, 2020 | ISSUE 942-164 Shops Offshore HDB Watch Gains and Losses BreadTalk boss offers Johor Baru market static Five-room HDB flat in Unit at Reflections at prime shophouses in 1Q2020 amid Clementi sold for Keppel Bay incurs for sale EP6 Covid-19 crisis EP7 $1.04 mil EP13 $2.15 mil loss EP14 Covid-19 sparks designer sanctuary home Turn to our Cover Story on Pages 8,9 & 10. Exterior of the corner detached house at Coronation Road West with a 17m frontage SAMUEL ISAAC CHUA/THE EDGE SINGAPORE CHUA/THE ISAAC SAMUEL PICTURES: ASCOTT EP2 • EDGEPROP | JULY 20, 2020 PROPERTY BRIEFS ADVERTISING + Essential goods manufacturing resilient during MARKETING ADVERTISING SALES VICE-PRESIDENT, SALES & OPERATIONS | Diana Lim Covid-19: Knight Frank ACCOUNT DIRECTOR | Ivy Hong DEPUTY ACCOUNT DIRECTOR | Janice Zhu BY CHARLENE CHIN markedly by 43.5% y-o-y, with the as well as the weak economic outlook, and prices to be under pressure and SENIOR ACCOUNT MANAGER | [email protected] number of tenancies from April to Knight Frank expects industrial rents moderate by about 5% this year. E Pang Kai Xin May falling to 1,253, recording a rent- ACCOUNT MANAGER | Ryan Wang espite the overall contraction in al volume of $2.5 million. CHarts: KnigHt FranK PUBLISHER Singapore’s economy due to the The lack of leasing activities was Leasing Volume and Median Rent of Multiple-User The Edge Property Pte Ltd pandemic, some manufacturing attributed to the “circuit breaker” in 150 Cecil Street #13-00 D Factory Space Singapore 069543 sectors such as the production of es- 2Q2020, a cut in manpower, as well Tel: (65) 6232 8688 sential goods have remained resilient, as manufacturers putting off any ex- Fax: (65) 6232 8620 says Knight Frank in its research on pansion or relocation plans due to the industrial market for 2Q2020. headwinds. PRINTER KHL Printing Co Pte Ltd Specifically, segments involved In 2Q2020, the median prices of 57 Loyang Drive in the production of essential goods multiple-user factory spaces also re- Singapore 508968 such as medical and hygiene-related corded slight declines or remained Tel: (65) 6543 2222 Fax: (65) 6545 3333 products and the delivery of goods, as flat. Transaction volume in the sec- well as warehouse and logistic spaces, tor fell from $168.6 million to $62.0 PERMISSION AND have mitigated the impact of the cri- million between 1Q2020 and 2Q2020. REPRINTS sis on the industrial market, it says. Knight Frank expects the manufac- Material in The Edge Property may not be reproduced in any Singapore’s Purchasing Managers’ turing sector to ramp up production form without the written Index (PMI) hit a trough in April, cautiously as the industry prepares permission of the publisher but witnessed a slower contraction for higher demand with the restart at 46.8 in May, as global demand for of economic activity worldwide. It We welcome your comments biomedical goods and pharmaceuti- is bullish on the biomedical manu- and criticism: propertyeditor.sg@ cal ingredients increased due to ex- facturing clusters, due to increased bizedge.com igencies caused by Covid-19, adds global demand for medical-related Average Prices of Multiple-User Factory Space by Pseudonyms are allowed but Knight Frank. equipment and products. Balance Tenure please state your full name, In 1Q2020, Singapore’s manufac- Pent-up demand for consumer address and contact number for turing sector was also boosted by the goods after lockdown periods in many us to verify. biomedical manufacturing, precision countries may also contribute to some engineering and transport engineer- increased activity in other manufac- ing clusters, outweighing the declines turing clusters, it highlights. in the electronics, general manufac- From 2Q2020 to 2024, some 54.1 turing and chemical clusters, it says. million sq ft of industrial space is slat- Meanwhile, the median rent of ed to come on stream. About 41.7% multiple-user factory spaces was at of the upcoming developments are $1.78 psf per month in 2Q2020, un- projected to be completed in 2020, changed from the previous quarter with the majority comprising facto- and from a year ago. ry space. Leasing volume, however, declined Given the upcoming supply in 2020, KNIGHT FRANK er 1 has a floor area of 3,897 sq ft, with views of the to the purchase of the property. CBD and the sea. The shophouses are a five-minute walk to Bendemeer It is on a high floor, and is column-free, allowing MRT Station on the Downtown Line. possible partitioning into two smaller office units, The expression of interest exercise for the shophouses will says Knight Frank. close on Aug 17 at 3pm. Pair of conservation shophouses in Kallang Industrial building at MacPherson Road for sale for sale at $13.2 mil at $21 mil A pair of freehold corner shophouses in the Laven- A seven-storey industrial building at 463 MacPherson Road der-Kallang precinct is on the market for $13.2 mil- is up on the market at a guide price of $21 million, accord- lion, according to Savills Singapore, which is market- ing to Savills Singapore, which is marketing the property. ing the property. The building has a total gross floor area of 38,287 sq ft The two-storey conservation shophouses at 52 Foch and land area of 14,400 sq ft, and is zoned under “Business Road have an attic and a four-storey rear extension. The 1 Industrial”. Completed in 2016, it has a basement car park pair occupies a site of 2,848 sq ft, and has a built-up and sky terrace. area of 8,417 sq ft. The property enjoys an 18m-wide The 99-year leasehold property has a remaining lease of main road frontage along Foch Road. 44 years, and is located within walking distance to Mattar The property is approved for F&B use on the ground MRT Station, MacPherson MRT Station, and Tai Seng MRT floor, and is rented out to a coffeeshop operator. Of- Station. The site is also easily accessible from major express- fice tenants are located on the upper floors. Altogeth- ways such as the Pan-Island Expressway and Kallang-Paya er, the property is subdivided into seven units, and Lebar Expressway. all units come with individual air-conditioning sys- Genova Building in Kallang is up for sale from $12 million to tems and toilets. Heitman acquires two warehouse facilities in $13 million Some selected units on the upper floors enjoy dou- Yeoju city, Korea Commercial properties in Kallang and Suntec ble-volume ceiling height. US-based real estate investment management firm Heit- City on the market Under URA’s 2019 Master Plan, the property is CONTINUES ON PAGE EP16 An industrial building in Kallang and an office unit at zoned for commercial use under the Jalan Besar Sec- 6cm x 2 col (72mm) EDITABLE ARTWORK Suntec City are on sale at guide prices of $12 million ondary Settlement Conservation Area, which allows to $13 million, and $2,900 psf respectively, says Knight for rear extension of up to six storeys. No additional FOR SALE: PRIME GROUND FLOOR Frank, which is marketing both properties. buyer’s stamp duty or seller’s stamp duty will apply Genova Building is a corner, six-storey light indus- HDB SHOP IN TOA PAYOH CENTRAL trial building at the junction of Bendemeer Road and SAVILLS SINGAPORE • Floor area: approx. 5,780 sq ft • High foot traffic within bustling estate Jalan Lembah Kallang, within Kallang Industrial Es- • 1-minute walk to Toa Payoh MRT Station tate. It occupies a land area of 6,060 sq ft and has a • Strong and stable tenants with attractive gross floor area of approximately 17,854 sq ft. rental income Under URA’s Master Plan 2019, it is zoned under • Full commercial “Business 1” with a plot ratio of 2.5. It has generous Expression of Interest closing date: ceiling heights across floors, at 8m on the ground floor 12 August 2020, Wednesday at 3pm and 6m on other floors. The loading bay can accom- Contact: Capital Markets CLAIRIE TAY JOSHUA GIAM modate 40-foot vehicles, says Knight Frank. Salesperson Reg No.: R060622J Salesperson Reg No.: R059079J Genova Building has a balance lease of 44 years. 9171 0269 8298 2731 The expression of interest exercise for the property will close on Aug 20 at 3pm. The shophouse pair at 52 Foch Road occupies a site of 2,848 Agency License No.: L3002163I Meanwhile, the strata office unit at Suntec Tow- sq ft and has a built-up area of 8,417 sq ft PICTURES: ASCOTT EDGEPROP | JULY 20, 2020 • EP3 BROUGHT TO YOU BY FAR EAST ORCHARD LTD, FAR EAST ORGANIZATION & SEKISUI HOUSE LTD Woods Square: A draw for firms heading and prices to be under pressure and north to tap bigger population base moderate by about 5% this year. E FAR EAST ORGANIZATION any companies aiming to capture a bigger pool of clients and customers are setting up shop at Woods Square, located in the vibrant Woodlands centre and close to Johor in Malaysia. MAn integrated commercial development with retail, F&B and a childcare centre, Woods Square sits squarely in the heart of Woodlands Regional Centre. Under the Northern Gateway blueprint in URA’s Master Plan 2019, the region promises to be a new transformative hive of commercial ac- tivities including a new agri-tech hub. Key tenants Anchor tenants at Woods Square include AIA Sin- gapore, Anytime Fitness, Far East Organization, Superland Pre-School and The Write Connection.