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Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of May 6, 2019 | ISSUE 880-102

Highlight Market Trends Under the Hammer Oxley sells Private residential prices Unit at Skies Miltonia for $1.03 bil fall by 0.7% in 1Q2019 going for $1.14 mil ep2 ep4 ep11

Beach Road’s changing skyline From Guoco Midtown and Shaw Towers to the new residential developments at Tan Quee Lan Street and Middle Road, the Beach Road-Rochor Road area is set for a massive renewal. Turn to our Cover Story on Pages 6 & 7.

The new Shaw Towers and Guoco Midtown will be linked to each other CapitaLand’sand to their neighbouring M&A will give developments it access to Ascendas-Singbridge’s as well as MRT stations Changi Business Park SAMUEL ISAAC CHUA/EDGEPROP CHUA/EDGEPROP ISAAC SAMUEL

EP2 • EDGEPROP | MAY 6, 2019

PROPERTY BRIEFS

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE Oxley sells Chevron House for cluding tenant representation, corporate $1.03 bil solutions and capital markets and in- EDITORIAL editor | Oxley Holdings has signed a deal to sell vestment, across key gateway cities in Cecilia Chow Chevron House for $1.03 billion, after the Asia-Pacific. deputy editor | acquiring the prime office space for $660 “This strategic appointment under- Amy Tan million in December 2017. scores our intent to continue to grow senior writer | Timothy Tay Located at 30 , Chevron our share of business and influence in writers | Bong Xin Ying, House is a 32-storey commercial devel- the market, both in Singapore and inter- Charlene Chin opment with 27 levels of office space nationally,” says Tang Wei Leng, man- head, copy editing | Pek Tiong Gee and a five-storey retail podium with a aging director at Colliers International. copy editor | net lettable floor area of 261,274 sq ft. In 1Q2019, the firm’s occupier ser- Rachel Heng In a filing to the Singapore Exchange vices team closed real estate transac- photo editor | Samuel Isaac Chua on April 29, Oxley said it has entered tions amounting to more than 330,000 photographer | Albert Chua into a sale and purchase agreement sq ft. These included deals involving editorial coordinator | with Golden Compass (BVI). The lat- blue-chip clients and prime Grade-A Yen Tan ter is a subsidiary of US-based real es- buildings in the CBD. designer | Kim Sy tate fund AEW. AEW will buy the entire interest in IWG appoints Samit Chopra as ADVERTISING + Oxley’s wholly-owned subsidiary, Ox- executive vice president for MARKETING ADVERTISING SALES ley Beryl, and take over the existing enterprise and sales vice-president, sales & bank loans for an aggregate value of Flexible workspace provider IWG has operations | Diana Lim up to $1.025 billion. Oxley Beryl owns appointed Samit Chopra as its executive deputy account director | Janice Zhu Chevron House. vice president for enterprise and sales. senior account manager | The proposed sale is expected to Based in Singapore, he leads the com- James Chua have a positive impact on Oxley’s net pany’s enterprise business function and account manager | tangible assets per share and earnings is responsible for aligning IWG’s mul- Pang Kai Xin regional business per share for the current financial year ti-brand flexible solutions with the port- development manager | Cole Tan ending June 30. Oxley will complete Chevron House is a 32-storey commercial development with 27 levels of office space and a folio needs of clients across the Middle head of marketing & branding | the alterations, additions and asset five-storey retail podium East and Asia-Pacific regions. Rachel Lim Shuling enhancement works on the property, He also oversees its sales platforms CIRCULATION which started on March 1, before the Europe. It currently has five freehold erty investment activity as previously in Australia, New Zealand, China, Sin- managers | Ashikin Kader, final completion of the proposed sale. office properties valued at $800 million strong interest from mainland Chinese gapore and Hong Kong, and drives over- Bryan Kek in its portfolio. buyers has abated. all sales strategy. executive | Malliga Muthusamy Public tender for industrial site The properties, located in Berlin, Singapore has overtaken China as Prior to joining IWG, Chopra was CORPORATE at Gul Circle launched Bonn, Darmstadt, Munich and Mun- the major source of Asian investments based in London and served as JLL’s in- chief executive officer | An industrial site along Gul Circle in ster in Germany, have a total net letta- in global property markets, as capital ternational director and head of integrat- Bernard Tong the Pioneer industrial estate has been ble area of 2.16 million sq ft and com- outflows from China have slowed fur- ed portfolio services for Europe, Mid- PUBLISHER launched for sale via public tender, JTC prise about 3,400 carpark lots. ther due to regulatory restrictions. As a dle East and Africa (EMEA). His career The Edge Property Pte Ltd Corp announced on April 30. The plot The properties have an overall oc- result, total investment by Asian inves- at the global real estate firm spanned 150 Cecil Street #13-00 Singapore 069543 is the fourth of five industrial sites to be cupancy rate of 98.6%. As at end-De- tors into the real estate sector outside over 20 years. Tel: (65) 6232 8688 launched for sale under the Confirmed cember, the weighted average lease Asia fell 31% last year to US$50.5 billion. “We’re pleased to welcome Samit Fax: (65) 6232 8620 List of the 1H2019 Industrial Govern- expiry is around four years with more An expected rebound of 21% in Asia- to IWG, as he brings with him exten- ment Land Sales programme. than 90% of leases due for renew- to-global investments this year, to US$61 sive experience in integrated portfolio PRINTER KHL Printing Co Pte Ltd The 89,766 sq ft site is zoned for al only in 2022 and beyond. Tenants billion, hinges on the success of the on- services, with a proven track record 57 Loyang Drive B2 industrial use under the 2014 Mas- include blue-chip companies such as going Brexit negotiations, says Terence of successfully expanding the growth Singapore 508968 ter Plan, with a permissible gross plot Allianz Handwerker Services GmbH, Tang, managing director of capital mar- of international businesses across re- Tel: (65) 6543 2222 Fax: (65) 6545 3333 ratio of 1.4 and a 20-year tenure. It is Deutsche Rentenversicherung Bund, kets & investment services Asia at Col- gions, and planning of flexible work- served by the Ayer Rajah Expressway Deutsche Telekom subsidiary GMG liers International. space products,” says Christos Misa- PERMISSION AND and the Pan-Island Expressway, as well and ST Microelectronics. Intra-Asian property investment ilidis, CEO, Asia Pacific and Middle REPRINTS as the Tuas Second Link. Other trans- “This investment in a Reit is in line continued to grow strongly, climbing East, IWG. — Compiled by Amy Tan Material in The Edge Property E may not be reproduced in any port connections include the Gul Circle with our aim to achieve assets under 10% last year to reach US$98.2 billion. and TimothyTay form without the written and Joo Koon MRT Stations. management (AUM) of US$5 billion This direction of capital flow is nearly COLLIERS permission of the publisher It is close to the Tuas Amenity Centre [$6.8 billion] by 2023,” says Frank Khoo, double that of Asia-to-global property and other industrial canteens, as well CDL’s group chief investment officer. flows, thanks to strong investment ac- We welcome your comments as recreational facilities like the SCAL He adds that this deal will also en- tivity from Hong Kong, Singapore, and and criticism: propertyeditor.sg@ Recreation Centre. hance the group’s diversification and South Korea. This trend is expected to bizedge.com The tender closes on June 25. increase its presence in European econ- continue, and Colliers forecasts another Pseudonyms are allowed but omies such as Germany. 10% increase to US$108 billion this year. please state your full name, CDL acquires 12.4% of IREIT Investment into Asian real estate address and contact number for Global and 50% of trust’s Transactions of completed from outside the region has grown to its us to verify. manager for $77.8 mil properties in Asia expected to highest level since the 2007-2008 glob- City Developments Limited (CDL) has fall 5% in 2019 al financial crisis, and climbed 38% acquired a 12.4% stake in IREIT Glob- Transactions of completed properties last year to reach US$24 billion. This al for $59.4 million and a 50% stake in in Asia are expected to drop 5% to trend indicates renewed confidence in the trust manager IREIT Global Group US$122 billion ($166 billion) this year, the prospects for the property markets (IGG) for $18.4 million. compared to the record US$128.4 bil- in the region. The amount this year is Listed on the Singapore Exchange, lion last year, according to a report by expected to grow 25% to reach US$30 IREIT Global focuses on investing in of- Colliers International. Hong Kong is billion, with investments from the US fice, retail and industrial properties in expected to see a 15% decline in prop- leading the way, says Colliers. Van Beijsterveldt will drive business deve- CITY DEVELOPMENTS Colliers appoints Bastiaan van lopment in occupier services for Colliers Beijsterveldt as director of IWG occupier services Colliers International has appointed Bastiaan van Beijsterveldt as director of occupier services to drive business development in this segment for the real estate firm. Based in Singapore, he will be re- sponsible for identifying and pursuing new business opportunities, as well as driving collaboration between the var- ious real estate business lines within the company. Prior to joining Colliers, he was based in Seoul where he led the tenant representation business in South Korea for another global real estate consultan- Darmstadt Campus, part of IREIT Global’s portfolio, is located in the prime TZ Rhein Main cy. He brings with him 11 years of ex- Chopra of IWG has extensive experience in Business Park of Darmstadt, south of Frankfurt perience in commercial real estate, in- integrated portfolio services EDGEPROP | MAY 6, 2019 • EP3 EP4 • EDGEPROP | MAY 6, 2019

MARKET TRENDS

Private residential prices fall again in 1Q2019, by 0.7%

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE Non-landed transactions in Core Central Region No. of non-landed transactions

NEW SALES RESALES SUB-SALES TOTAL

3Q2018 123 444 8 575 4Q2018 102 364 7 473 1Q2019 186 374 6 566 TOTAL 411 1,182 21 1,614

No. of non-landed transactions (by prices)

<$2 MIL $2 MIL TO $4 MIL $4 MIL TO $5 MIL >$5 MIL

3Q2018 223 247 43 62 4Q2018 147 212 37 77 1Q2019 259 211 28 68 TABLES: URA REALIS AT APRIL 26, 2019; LIST LSIR

good developments, despite the higher ABSD At the former Normanton Park, the devel- (additional buyer’s stamp duty),” says Leong. oper has been issued a no-sale licence. This could create “some overhang and price pres- Core Central Region sure” when the new 1,862-unit project is even- The 1Q2019 price decline in the CCR is the tually launched for sale, says Song. Other at- sharpest recorded for the segment since the tractive new launches in the next few quarters 5.2% fall in 2Q2009 during the Great Finan- include the former Pearl Bank Apartments, Av- cial Crisis of 2009, says Song. This is also the enue South Residence, Coastline Residences, second consecutive quarterly price decline in Amber Park and Mayfair Modern, she says. the CCR; prices there are now 4.0% below their most recent peak in 3Q2018. Outside Central Region This quarterly showing is “much steeper In the suburbs, or Outside Central Region than our expectation”, says Song, and could (OCR), non-landed home prices climbed 0.2% have resulted from the decline in median prices in 1Q2019 compared to the earlier flash estimate, at certain projects, as developers look to clear and this came on the heels of a 0.7% increase outstanding inventory in completed develop- in the previous period. The announcement of ments. These include Lloyd Sixtyfive, New Fu- the Cross Island Line helped developers hold tura, and TwentyOne Anguilla Park. on to prices, for projects like Affinity at Seran- Notably, three units at Lloyd Sixtyfive were goon, Gardens Residences and Riverfront Res- sold last quarter at a median price of $2,852 idences. psf, which is 13.6% lower than the median However, with the launch of two “mega- price of $3,301 psf for two units sold in 4Q2018. projects” – the 2,203-unit Treasure at Tamp- New Futura also sold three units over the same ines and 1,410-unit The Florence Residences period at a median price of $3,471 psf, down – in the last quarter, prices in the OCR are ex- 4.5% compared to the $3,520 psf median price pected to soften for the rest of the year, says set by three units sold in 4Q2018. Lastly, the Song. The two projects have respectively sold median price for four units sold at TwentyOne 13% and 5% of their total units. Angullia Park fell by 4.5% to $3,362 psf, com- pared to $3,520 psf for three other units sold Pipeline supply in the previous quarter. To date, the total volume of unsold new units in the market is about 37,000 units. Assum- Benchmark pricing ing an annual take-up of 9,000 homes based There is strong demand for properties priced below $2 million as well as healthy interest in properties At the same time, several new projects in the on the annual average over the past six years, priced above $5 million like South Beach Residences (pictured) CCR that were launched in 1Q2019 have set this would take four years to be absorbed, says benchmark pricing, such as Fourth Avenue Lee Sze Teck, head of research at Huttons Asia. | BY TIMOTHY TAY | mail Gafoor, CEO of PropNex Realty. Residences, RV Altitude, and Boulevard 88. This is well within the five-year time frame be- Meanwhile, private resale transactions fell The highest psf price for a 99-year leasehold fore the ABSD kicks in, he adds. rivate home prices declined by 0.7% in by 5.7% q-o-q, and 49.3% y-o-y, to 1,858. project along Bukit Timah was set by Fourth In addition to unsold stock, there is a “for- 1Q2019, according to the latest statis- “Sellers might be pulling the brakes, and buy- Avenue Residences which sold 77 units at a midable” pipeline of 53,284 uncompleted pri- tics from the URA. This compared to the ers are potentially holding off the decision of median price of $2,411 psf, according to URA vate residential units that have been granted 0.6% decline shown in its flash estimate. buying,” says Gafoor. But a revitalised show- caveats. RV Altitude sold 19 units at a medi- planning approvals, says Desmond Sim, head This is the second consecutive quar- ing is expected for the coming three quarters, an price of $2,834 psf, which is the highest of research at CBRE. “With a five-year aver- Pter that private residential prices have fall- as en-bloc beneficiaries look for replacement psf price in the River Valley Grove area. Last- age demand of between 8,000 and 8,500 units, en; they declined by 0.1% in 4Q2018. Private homes with their sales proceeds, he adds. ly, Boulevard 88 sold 26 units at $3,613 psf, and in view of the current weaker sentiments, home prices are now 0.7% below the most The latest decline was led by a 3.0% price which is one of the highest psf prices for large- this supply might take more than five years to recent price peak in 3Q2018, and 3.9% be- drop in the city centre, or Core Central Region format projects in Orchard Boulevard. clear,” he says. low the record high in 3Q2013, says Tricia (CCR), as well as a 0.7% decline in city-fringe This does not include a potential supply Song, head of research for Singapore at Col- areas, or Rest of Central Region (RCR). Pric- Rest of Central Region of 5,200 units from awarded government land liers International. es in the suburbs grew moderately at 0.2% Prices in the RCR were lower than their flash sales (about 4,700) and en-bloc sites (about compared to their 0.7% gain in 4Q2018, says estimates, falling by 0.7% instead of 0.2% last 500), which have not been granted planning New sales Leong Boon Hoe, COO of List Sotheby’s Inter- quarter, and overturning the 1.8% increase re- approval. Thus, while developers are unlikely New home sales for the first three months of national Realty Singapore. corded in 4Q2018. to reduce prices in the near term, “more buy- this year were at 1,838 units, little changed There is strong demand for properties Earlier launched projects like Margaret Ville, ers are likely to stay by the sidelines as they are from 1,836 units sold in 4Q2018. This was priced below $2 million as well as healthy in- Mayfair Gardens, and The Tre Ver moved more spoilt for choice, and as they wait for develop- 16% higher y-o-y due to more attractive new terest for properties priced above $5 million, units compared to the previous quarter, while ers to buckle under the pressure and competi- project launches. “About 70% of new private which are luxury homes by industry stand- maintaining their prices. The 820-unit Park tion to clear their inventory”, Sim says. E home sales comprise projects that have been ards, he says. These projects include 3 Or- Colonial is now 72% sold and the develop- previously launched. Developments that are chard-By-The-Park, South Beach Residences, er has begun raising prices. The development SEE URA 1Q STATS ON OFFICE AND priced sensitively have continued to garner and Boulevard 88. “This shows that there are achieved a median price of $1,791 psf in 1Q2019, RETAIL SEGMENTS, PAGE EP10 interest among buyers and investors,” says Is- buyers who are keen to enter the market for from $1,750 psf in 4Q2018. EDGEPROP | MAY 6, 2019 • EP5 EP6 • EDGEPROP | MAY 6, 2019

COVER STORY

The Guoco Midtown site where construction has started

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE Beach Road’s changing skyline

From Guoco Midtown and Shaw Towers to the new residential developments at Tan Quee Lan Street and Middle Road, the Beach Road-Rochor Road area is set for a massive renewal

| BY CECILIA CHOW | course, designed by the late American archi- DUO by Buro Ole Scheeren, and South Beach by underground pedestrian links to the MRT tect, Paul Rudolph, and the knife-edged trian- by Foster and Partners. stations. For instance, there will be an under- or the past four decades, those driving gular towers of by the legendary “The stretch of Beach Road from Ophir Road ground link from Guoco Midtown to Bugis MRT along from Singapore’s American-Chinese architect I M Pei who turns and Rochor Road onwards has changed a lot,” Interchange Station for the Downtown and East- East Coast to the CBD have been treated 102 this year. says Cheng Hsing Yao, group managing direc- West Lines. From South Beach, they will have to the landmarks defining Beach Road’s In recent years, the skyline has been en- tor of listed property group GuocoLand Singa- direct access to Esplanade MRT Station on the skyline: first, the hanced by the addition of two multi-billion-dol- pore. “But the eastern stretch of Beach Road Circle Line. South Beach is also linked directly Fand Tower, a relic of the 1970s; followed by lar integrated developments designed by star is still quite old.” to via an overhead bridge that brings the 1990s modernist architecture of The Con- architectural firms of the current era, namely GuocoLand is developing Guoco Midtown, pedestrians to City Hall MRT Interchange Sta- a new integrated development at the junction tion for the North-South and East-West Lines. M+S of Beach Road and . Adjacent “Guoco Midtown and the redevelopment to Guoco Midtown is Shaw Tower, which will of Shaw Tower will be new additions that be redeveloped. A commercial tower built will complement South Beach and DUO,” says on a site sold in the government land sales Chris Archibold, JLL head of leasing. “They (GLS) programme in 1970, Shaw Tower is a will bring a critical mass of Grade-A office redevelopment of the former Alhambra and space to the area, which GuocoLand has apt- Marlboro theatres, and also where the orig- ly branded ‘Midtown’.” inal Satay Club at Hoi How Road was locat- There will be very little new office supply ed. The 34-storey tower contains offices from in the next two years until Guoco Midtown is the 11th to the top floor, carpark lots from the completed. , which contains second to 10th floors and a retail podium with about 500,000 sq ft of premium office space, two cinemas. Shaw Tower is owned by Shaw and was completed in 2015, is full today, says Foundation, which was established in Singa- Archibold. Likewise, DUO Tower, which has pore in 1957. 568,000 sq ft of office space, and was completed in 2017, is also almost full. The average rent in ‘NEW ADDITIONS’ these two towers is said to be around $11 psf. The new commercial development that will Guoco Midtown is expected to trade at “dou- replace the existing Shaw Tower will be pre- ble-digit rents”. However, the office tower in dominantly office with a total net lettable area the development will only be put up for lease of 222,700 sq ft. “The redevelopment of Shaw two years from now. “Our view of the market Tower is overdue,” says Christine Li, head of is very positive,” he adds. “The supply pipe- research for Singapore and Southeast Asia at line is fairly low, and demand seems fairly ro- Cushman & Wakefield (C&W). bust across many different sectors.” The new Shaw Tower and Guoco Midtown JLL’s basket of premium, Grade-A office will be linked to each other and to their neigh- buildings are made up of those that are under DUO, an integrated development with hotel, residences, office and F&B outlets bouring developments on the second level, and 16 years old and have floor plates of at least EDGEPROP | MAY 6, 2019 • EP7

COVER STORY

SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

The residential development site on Middle Road sold to Wing Tai for $492 million at the end of March The residential development site on Tan Queen Lan Street that will be launched for sale in May

15,000 sq ft. “Location is less relevant today,” cess points in each floor, which makes it very developed into two high-rise, 20-storey resi- at South Beach Residences have still been sold says Archibold. “Whether they are in Marina efficient for sub-division, says JLL’s Archibold. dential towers with a low-rise block contain- at prices from $3,207 to $3,551 psf over the Bay, Raffles Place or Tanjong Pagar, they are all CBRE’s Armstrong agrees: “Where Guoco ing commercial units on the first level and res- two months from March to April, according to trading at around $11 psf per month.” Midtown stands out is that it specifically incor- idential units on the upper levels. data from URA REALIS. porated agile areas and facilities into the de- “As it is within the Central Area, we are ex- “Sales at South Beach Residences have been MIXED-USE APPEAL velopment’s design concept,” he says. “We are cited by the excellent opportunity to create a pretty encouraging despite the property cool- Beach Road appeals to a wide spectrum of likely to see changes in lease contracts where- fresh, exciting living space that caters to urbanites ing measures,” notes C&W’s Li. occupiers, notes Moray Armstrong, CBRE by end-users’ core occupied space is leased who desire to live in the city and experience its GuocoLand could well position the residenc- Singapore managing director. Potential ten- for conventional, longer periods, while a pro- vibrant, cosmopolitan culture,” says Tan Hwee es at Midtown Bay as a luxury project similar ants could include fintech, technology, en- portion of the space is held under shorter and Bin, executive director of Wing Tai Holdings. to its 181-unit Wallich Residence, which sits ergy sector, co-working operators and MNCs more fluid terms.” C&W’s Li expects the future projects to “en- on top of at its $3.4 billion in- that appreciate the accessibility within the This in turn will change leasing models, large the residential catchment in the area” and tegrated development, Tanjong Pagar Centre. CBD, he adds. “We anticipate the new de- says Armstrong, where core leased space will further boost the attractiveness of the sub-mar- According to GuocoLand’s Cheng, the resi- velopments will attract tenants keen to up- be offered at a lower cost base, with a premium ket. “On the one hand, you have more residen- dences at Midtown Bay will have “spectacular grade and flight-to-quality will be a feature payable for flexibility. “This is akin to an air- tial developments which cater to the expatriate views” of Marina Bay, Kallang Basin and Or- of tenants’ relocation drivers.” line ticket whereby the customer pays a high- community in town,” she says. “On the other chard Road. “We will take advantage of these Planned as a mixed-use district with offic- er price for a ticket that can be changed ver- hand, you have more top-notch corporate cli- views,” he says. es, hotels and residences, “the Beach Road/ sus one that is more rigid,” he adds. ents coming over from older CBD buildings “We hope that Guoco Midtown will be a Ophir-Rochor corridor primarily serves as an to take up office space in this up-and-coming game-changer,” adds Cheng. “We want to re- extension of the central business district due to ‘ENLARGED RESIDENTIAL CATCHMENT’ submarket.” design street life, city living and Grade-A office its proximity to Raffles Place and Marina Bay,” Located directly across the road from the up- space in the Beach Road district.” adds Armstrong. “The area is also unique due coming Guoco Midtown is an empty green plot DIFFERENTIATED OFFERINGS Meanwhile, Golden Mile Complex, designed to its heritage and cultural vibe from the Kam- of 124,119 sq ft, flanked on one side by the con- She reckons the new 99-year leasehold residen- in the 1960s and completed in 1973, was re- pong Glam conservation area. It has ‘the cool servation shophouses along Tan Quee Lan Street. tial developments in the area are likely to have launched for collective sale with a price tag of factor’. The existing commercial building ar- The GLS site has been earmarked by URA for selling prices in the $2,550 psf to $2,800 psf $800 million at the end of March with Edmund chitecture in this micro-market is particular- a residential development of about 580 units, range, depending on the unit sizes. “The prod- Tie & Co as the marketing agent. The tender ly distinctive.” with a maximum height of 30 storeys, and a ucts will be differentiated to suit the spectrum closed on April 25 with no bids. When South Beach Tower first entered the low-rise block of six storeys. The first level will of buyers and tenants at Beach Road,” adds Li. While the main 16-storey tower with its market five years ago, 80% of prospective be allocated to commercial space. The site will For instance, at South Beach Residences, stepped façade is to be retained, URA has in- office occupiers were already drawn to the be launched for sale in May, with the tender to which was launched last September to coincide dicated that intensification of the existing de- location. “The Beach Road area has a very close in September. with the Singapore Grand Prix, prices of units velopment to a total GFA of 925,677 sq ft with nice mixed-use feel,” says JLL’s Archibold. Meanwhile, just one block away on Middle sold started from $2,795 psf for the lowest floor a plot ratio of 6.387 can be considered. “There’s a fair amount of retail and F&B in Road, another GLS site was sold in early April on the 23rd level to a high of $3,950 psf in the In the long term, it is likely to be redevel- the area, and you’re also near a very large to listed property developer Wing Tai Holdings. first month of sales. The super penthouse, a oped into another landmark integrated de- retail mall of over a million sq ft at Suntec The group had emerged at the top of 10 bids re- triplex, was sold for $26 million ($3,865 psf) velopment with office, retail, hotel, serviced City. From an immediacy point of view, it ceived at the close of the tender on March 29. last October. Units in the 190-unit luxury res- apartments and residences. For now, as an works very well.” Wing Tai’s bid price was $492 million ($1,458 idence occupy the 23rd to 45th floors of the industry veteran remarks, Golden Mile Com- Construction has already started at Guo- psf per plot ratio). 45-storey tower, with luxury hotel JW Marri- plex will remain “a golden opportunity that’s co Midtown, located on a 2.1ha GLS site pur- The site, which covers 80,000 sq ft, will be ott Singapore occupying the lower half. Units a mile too complex”. E chased by GuocoLand in October 2017 for $1.622 billion. SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE EDMUND TIE & CO Designed by acclaimed Australian architec- tural practice, Denton Corker Marshall, Guoco Midtown is scheduled to be completed in 2023. The property, which has a gross development value of $2.4 billion, will contain a 30-storey Grade-A office tower linked to a five-storey Network Hub. Office space will account for 770,000 sq ft (81%) of the total gross floor area (GFA) of 950,000 sq ft within the development. Landscaped public spaces comprise a total of 170,000 sq ft spread across multiple floors. There will also be a 32-storey residential tower with more than 200 units, called Midtown Bay. Within the site is a three-storey, conserved co- lonial-era building that once housed the Beach Road Police Station.

‘BUILT-IN FLEX COMPONENT’ TO CHANGE LEASING MODEL GuocoLand has announced that it will be offer- ing a “core and flex” leasing concept at Guoco Midtown. The floor plates of the office tower Concourse Skyline residential towers (left) were are rectangular in shape and measure 27,000 completed in 2014 while office tower to 30,000 sq ft. There are also four different ac- designed by Paul Rudolph was completed in 1994 Golden Mile Complex and Tower was relaunched for sale at $800 million, and the tender closed on April 25 EP8 • EDGEPROP | MAY 6, 2019

DONE DEALS

Residential transactions with contracts dated April 16 to 23 Singapore — by postal district LOCALITIES DISTRICTS LAND AREA/ UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 THE GRANGE Condominium Freehold Apr 18 2,293 5,400,000 2,355 2008 Resale WATERFALL GARDENS Condominium Freehold Apr 22 1,830 3,100,000 1,694 2010 Resale Balestier/MacPherson/Geylang 12 to 14 WILSHIRE RESIDENCES Apartment Freehold Apr 17 840 2,241,260 2,669 Uncompleted New Sale East Coast 15 and 16 District 11 Changi/Pasir Ris 17 and 18 DYSON RITZ Semi-Detached Freehold Apr 16 2,357 4,900,000 2,075 2017 Resale Serangoon/Thomson 19 and 20 FYVE DERBYSHIRE Apartment Freehold Apr 20 936 2,181,000 2,329 Uncompleted New Sale West 22 to 24 FYVE DERBYSHIRE Apartment Freehold Apr 21 657 1,589,000 2,420 Uncompleted New Sale North 25 to 28 L’VIV Apartment Freehold Apr 22 990 2,050,000 2,070 2013 Resale PARK INFINIA AT WEE NAM Condominium Freehold Apr 18 1,690 3,320,000 1,965 2008 Resale THE ARCADIA Condominium 99 years Apr 22 3,714 3,650,000 983 1983 Resale District 12 1953 Apartment Freehold Apr 18 969 1,837,000 1,896 Uncompleted New Sale 1953 Apartment Freehold Apr 19 614 1,138,000 1,855 Uncompleted New Sale 1953 Apartment Freehold Apr 19 614 1,138,000 1,855 Uncompleted New Sale 1953 Apartment Freehold Apr 20 614 1,147,000 1,869 Uncompleted New Sale EIGHT RIVERSUITES Condominium 99 years Apr 17 1,033 1,550,000 1,500 2016 Resale THE ABERDEEN Condominium Freehold Apr 22 1,109 1,235,000 1,114 1997 Resale THE VERVE Apartment Freehold Apr 22 441 615,000 1,394 2012 Resale District 13 DAISY AVENUE Terrace Freehold Apr 16 1,798 2,120,000 1,178 1974 Resale PARK COLONIAL Condominium 99 years Apr 20 732 1,063,000 1,452 Uncompleted New Sale THE ADDITION Apartment Freehold Apr 17 797 1,438,000 1,805 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years Apr 18 1,184 1,626,000 1,373 2018 New Sale THE TRE VER Condominium 99 years Apr 16 495 821,000 1,658 Uncompleted New Sale THE TRE VER Condominium 99 years Apr 18 646 1,063,000 1,646 Uncompleted New Sale THE TRE VER Condominium 99 years Apr 18 1,109 1,708,000 1,541 Uncompleted New Sale THE TRE VER Condominium 99 years Apr 18 700 1,157,000 1,654 Uncompleted New Sale LAND AREA/ UNIT THE TRE VER Condominium 99 years Apr 18 743 1,240,000 1,670 Uncompleted New Sale FLOOR AREA TRANSACTED PRICE TYPE OF THE TRE VER Condominium 99 years Apr 18 495 817,000 1,650 Uncompleted New Sale PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE THE TRE VER Condominium 99 years Apr 19 1,098 1,731,000 1,577 Uncompleted New Sale District 1 THE TRE VER Condominium 99 years Apr 20 689 1,167,000 1,694 Uncompleted New Sale RESIDENCES Apartment 99 years Apr 16 1,141 2,576,970 2,259 2017 New Sale THE TRE VER Condominium 99 years Apr 21 700 1,085,000 1,551 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Apr 16 2,250 5,850,000 2,600 2017 New Sale THE TRE VER Condominium 99 years Apr 21 495 796,000 1,608 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Apr 18 1,163 2,788,000 2,398 2017 New Sale District 14 MARINA ONE RESIDENCES Apartment 99 years Apr 18 1,141 2,568,000 2,251 2017 New Sale ARENA RESIDENCES Apartment Freehold Apr 19 1,238 1,670,000 1,349 Uncompleted New Sale MARINA ONE RESIDENCES Apartment 99 years Apr 18 2,034 5,389,560 2,649 2017 New Sale CANNE LODGE Apartment Freehold Apr 18 818 880,000 1,076 1995 Resale MARINA ONE RESIDENCES Apartment 99 years Apr 19 1,582 3,539,250 2,237 2017 New Sale GEYLANG HERITAGE Apartment Freehold Apr 16 1,173 1,010,000 861 2001 Resale District 2 PARC ESTA Apartment 99 years Apr 16 1,033 1,676,000 1,622 Uncompleted New Sale 76 SHENTON Apartment 99 years Apr 17 980 1,680,000 1,715 2014 Resale PARC ESTA Apartment 99 years Apr 19 452 807,000 1,785 Uncompleted New Sale ALTEZ Apartment 99 years Apr 22 527 1,250,000 2,370 2014 Resale PARC ESTA Apartment 99 years Apr 20 915 1,518,000 1,659 Uncompleted New Sale District 3 PARC ESTA Apartment 99 years Apr 20 527 931,000 1,765 Uncompleted New Sale ALESSANDREA Apartment Freehold Apr 18 1,249 1,500,000 1,201 2003 Resale PARC ESTA Apartment 99 years Apr 20 700 1,165,000 1,665 Uncompleted New Sale ARTRA Apartment 99 years Apr 16 829 1,760,600 2,124 Uncompleted New Sale PARC ESTA Apartment 99 years Apr 20 1,001 1,613,000 1,611 Uncompleted New Sale ARTRA Apartment 99 years Apr 21 786 1,665,200 2,119 Uncompleted New Sale PARC ESTA Apartment 99 years Apr 21 635 1,047,000 1,649 Uncompleted New Sale ASCENTIA SKY Condominium 99 years Apr 17 1,475 2,280,000 1,546 2013 Resale PARC ESTA Apartment 99 years Apr 21 635 1,059,000 1,668 Uncompleted New Sale ASCENTIA SKY Condominium 99 years Apr 18 1,012 1,510,000 1,492 2013 Resale PARC ESTA Apartment 99 years Apr 21 743 1,243,000 1,674 Uncompleted New Sale CENTRAL GREEN CONDOMINIUM Condominium 99 years Apr 17 764 1,180,000 1,544 1995 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years Apr 18 1,076 1,893,000 1,759 Uncompleted New Sale MARGARET VILLE Apartment 99 years Apr 16 915 1,551,438 1,696 Uncompleted New Sale REZI 24 Apartment Freehold Apr 16 549 813,700 1,482 Uncompleted New Sale MARGARET VILLE Apartment 99 years Apr 19 829 1,401,596 1,691 Uncompleted New Sale SUITES @ EUNOS Apartment Freehold Apr 18 1,109 1,220,000 1,100 2012 Resale MARGARET VILLE Apartment 99 years Apr 19 829 1,406,496 1,697 Uncompleted New Sale THE SUNNY SPRING Apartment Freehold Apr 22 1,109 1,235,000 1,114 1998 Resale MARGARET VILLE Apartment 99 years Apr 20 829 1,411,396 1,703 Uncompleted New Sale WINDY HEIGHTS Condominium Freehold Apr 18 2,476 2,430,000 982 1983 Resale REGENCY SUITES Apartment Freehold Apr 18 1,421 2,290,000 1,612 2008 Resale District 15 STIRLING RESIDENCES Apartment 99 years Apr 17 764 1,335,000 1,747 Uncompleted New Sale AALTO Condominium Freehold Apr 18 1,528 3,200,000 2,094 2010 Resale STIRLING RESIDENCES Apartment 99 years Apr 19 657 1,188,000 1,809 Uncompleted New Sale AMBER RESIDENCES Condominium Freehold Apr 18 5,113 5,220,000 1,021 2011 Resale STIRLING RESIDENCES Apartment 99 years Apr 19 657 1,128,000 1,718 Uncompleted New Sale CHAPEL LODGE Condominium Freehold Apr 16 1,528 1,751,000 1,146 1994 Resale STIRLING RESIDENCES Apartment 99 years Apr 19 657 1,108,000 1,687 Uncompleted New Sale DUNMAN VIEW Condominium 99 years Apr 23 1,238 1,340,000 1,083 2004 Resale STIRLING RESIDENCES Apartment 99 years Apr 20 657 1,168,000 1,779 Uncompleted New Sale EAST COAST PARK Terrace Freehold Apr 22 2,583 3,700,000 1,433 Unknown Resale STIRLING RESIDENCES Apartment 99 years Apr 20 764 1,327,000 1,736 Uncompleted New Sale EMERY POINT Apartment Freehold Apr 22 1,302 1,550,000 1,190 2003 Resale STIRLING RESIDENCES Apartment 99 years Apr 21 624 1,115,000 1,786 Uncompleted New Sale EMERY POINT Apartment Freehold Apr 23 1,302 1,600,000 1,228 2003 Resale District 4 GIDEON’S LODGE Apartment Freehold Apr 18 1,313 1,318,000 1,004 1992 Resale CORALS AT KEPPEL BAY Condominium 99 years Apr 17 7,395 19,000,000 2,569 2016 Resale MARINE BLUE Condominium Freehold Apr 17 635 1,330,000 2,094 2016 Resale District 5 MEYER RESIDENCE Apartment Freehold Apr 18 1,066 1,838,000 1,725 2009 Resale BOTANNIA Condominium 956 years Apr 16 1,259 1,580,000 1,255 2009 Resale GOODMAN ROAD Detached Freehold Apr 16 6,222 9,330,000 1,499 2002 Resale DOVER PARKVIEW Condominium 99 years Apr 18 1,249 1,430,000 1,145 1997 Resale ONE MEYER Apartment Freehold Apr 19 614 1,685,000 2,746 Uncompleted New Sale DOVER PARKVIEW Condominium 99 years Apr 23 936 1,035,000 1,105 1997 Resale OVADA 8 Apartment Freehold Apr 16 1,346 1,300,000 966 2001 Resale FLYNN PARK Condominium Freehold Apr 22 2,196 2,730,888 1,244 1986 Resale PARC ELEGANCE Apartment Freehold Apr 23 420 590,000 1,405 2013 Resale HARBOUR VIEW GARDENS Apartment Freehold Apr 18 980 1,500,000 1,531 Uncompleted New Sale PARKSHORE Condominium Freehold Apr 17 1,636 2,510,000 1,534 1995 Resale HERITAGE VIEW Condominium 99 years Apr 18 1,163 1,400,000 1,204 2000 Resale SEASIDE RESIDENCES Apartment 99 years Apr 16 1,679 3,579,300 2,132 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Apr 16 474 847,000 1,788 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Apr 17 1,733 3,662,400 2,113 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Apr 19 1,884 3,015,000 1,601 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Apr 17 1,087 2,103,360 1,935 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Apr 20 474 800,000 1,689 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Apr 20 678 1,278,530 1,885 Uncompleted New Sale SEAHILL Condominium 99 years Apr 18 624 900,000 1,442 2016 Resale SEASIDE RESIDENCES Apartment 99 years Apr 21 1,259 2,472,000 1,963 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Apr 16 1,066 1,451,520 1,362 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Apr 21 560 1,164,000 2,080 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Apr 18 990 1,337,310 1,350 Uncompleted New Sale SUNSHINE MANSIONS Apartment Freehold Apr 16 1,701 1,655,000 973 2006 Resale WHISTLER GRAND Apartment 99 years Apr 18 990 1,267,650 1,280 Uncompleted New Sale District 16 WHISTLER GRAND Apartment 99 years Apr 19 1,066 1,393,200 1,307 Uncompleted New Sale BAYSHORE PARK Condominium 99 years Apr 22 1,292 1,050,000 813 1986 Resale WHISTLER GRAND Apartment 99 years Apr 20 990 1,287,900 1,301 Uncompleted New Sale BEDOKVILLE Semi-Detached Freehold Apr 22 3,477 3,500,000 1,008 Unknown Resale WHISTLER GRAND Apartment 99 years Apr 20 1,066 1,482,300 1,391 Uncompleted New Sale EAST VILLAGE Apartment Freehold Apr 18 409 590,000 1,442 2014 Resale WHISTLER GRAND Apartment 99 years Apr 21 1,281 1,598,130 1,248 Uncompleted New Sale ECO Condominium 99 years Apr 16 1,012 1,450,000 1,433 2017 Resale District 7 FAIRMOUNT CONDOMINIUM Condominium 99 years Apr 22 1,227 1,100,000 896 2000 Resale SOUTH BEACH RESIDENCES Apartment 99 years Apr 16 1,421 5,045,527 3,551 2016 Resale LUCKY GARDENS Terrace Freehold Apr 18 1,711 2,200,000 1,285 Unknown Resale SOUTH BEACH RESIDENCES Apartment 99 years Apr 22 1,076 3,603,600 3,348 2016 Resale District 17 District 8 ESTELLA GARDENS Condominium Freehold Apr 22 657 645,000 982 1999 Resale CITY LOFT Apartment Freehold Apr 16 377 600,000 1,593 2012 Resale THE JOVELL Condominium 99 years Apr 18 721 943,000 1,308 Uncompleted New Sale CITY SQUARE RESIDENCES Condominium Freehold Apr 22 840 1,365,000 1,626 2009 Resale THE JOVELL Condominium 99 years Apr 19 527 726,000 1,376 Uncompleted New Sale District 9 District 18 8 SAINT THOMAS Condominium Freehold Apr 16 807 2,685,200 3,326 2018 Resale EASTVALE EC 99 years Apr 17 1,184 828,000 699 1999 Resale ASPEN HEIGHTS Condominium 999 years Apr 17 1,572 2,750,000 1,750 1998 Resale LIVIA Condominium 99 years Apr 17 1,346 1,210,000 899 2011 Resale CAVENAGH COURT Apartment Freehold Apr 22 1,862 3,080,000 1,654 Unknown Resale SAVANNAH CONDOPARK Condominium 99 years Apr 23 990 830,000 838 2005 Resale ESPADA Apartment Freehold Apr 18 646 1,300,000 2,013 2013 Resale THE PALETTE Condominium 99 years Apr 23 1,163 1,180,000 1,015 2015 Resale EURO-ASIA COURT Apartment Freehold Apr 18 1,658 2,400,000 1,448 1994 Resale TREASURE AT TAMPINES Condominium 99 years Apr 16 1,335 1,753,000 1,313 Uncompleted New Sale MACKENZIE REGENCY Apartment Freehold Apr 16 1,259 1,500,000 1,191 2007 Resale TREASURE AT TAMPINES Condominium 99 years Apr 17 484 623,000 1,286 Uncompleted New Sale MARTIN MODERN Condominium 99 years Apr 18 764 2,001,700 2,619 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Apr 18 1,722 2,077,000 1,206 Uncompleted New Sale MARTIN MODERN Condominium 99 years Apr 21 764 1,992,200 2,607 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Apr 18 581 781,000 1,344 Uncompleted New Sale MARTIN NO 38 Apartment Freehold Apr 22 1,130 3,056,000 2,704 2011 Resale TREASURE AT TAMPINES Condominium 99 years Apr 19 678 978,000 1,442 Uncompleted New Sale OUE TWIN PEAKS Condominium 99 years Apr 16 549 1,471,400 2,680 2015 Resale TREASURE AT TAMPINES Condominium 99 years Apr 19 463 654,000 1,413 Uncompleted New Sale RV ALTITUDE Apartment Freehold Apr 18 603 1,717,000 2,848 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Apr 20 581 817,000 1,406 Uncompleted New Sale THE BOTANIC ON LLOYD Condominium Freehold Apr 17 3,531 6,150,000 1,742 2006 Resale TREASURE AT TAMPINES Condominium 99 years Apr 21 614 896,000 1,460 Uncompleted New Sale TIARA Condominium Freehold Apr 22 1,346 2,480,000 1,843 1995 Resale WHITEWATER EC 99 years Apr 16 1,130 837,000 741 2005 Resale TWENTYONE ANGULLIA PARK Condominium Freehold Apr 22 3,154 9,980,000 3,164 2014 Resale District 19 WATERMARK ROBERTSON QUAY Apartment Freehold Apr 22 1,066 2,080,000 1,952 2008 Resale A TREASURE TROVE Condominium 99 years Apr 16 1,044 1,205,000 1,154 2015 Resale WATERSCAPE AT CAVENAGH Apartment Freehold Apr 17 1,378 2,400,000 1,742 2014 Resale AFFINITY AT SERANGOON Apartment 99 years Apr 16 1,076 1,624,000 1,509 Uncompleted New Sale District 10 AFFINITY AT SERANGOON Apartment 99 years Apr 17 474 711,000 1,501 Uncompleted New Sale 3 CUSCADEN Apartment Freehold Apr 16 764 2,650,545 3,468 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Apr 17 538 799,000 1,485 Uncompleted New Sale 3 CUSCADEN Apartment Freehold Apr 17 452 1,627,886 3,601 Uncompleted New Sale AFFINITY AT SERANGOON Terrace 99 years Apr 17 2,067 2,341,000 1,133 Uncompleted New Sale 3 CUSCADEN Apartment Freehold Apr 20 452 1,648,000 3,645 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Apr 19 732 1,129,000 1,542 Uncompleted New Sale 3 CUSCADEN Apartment Freehold Apr 21 474 1,601,350 3,381 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Apr 19 624 1,002,000 1,605 Uncompleted New Sale BALMORAL PLAZA Apartment Freehold Apr 18 2,357 3,100,000 1,315 1994 Resale AFFINITY AT SERANGOON Apartment 99 years Apr 20 538 772,000 1,434 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Apr 18 2,777 9,760,000 3,514 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Apr 20 1,076 1,606,000 1,492 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Apr 19 1,776 6,152,000 3,464 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years Apr 21 904 1,380,000 1,526 Uncompleted New Sale BOULEVARD 88 Apartment Freehold Apr 20 1,776 6,632,000 3,734 Uncompleted New Sale BOTANIQUE AT BARTLEY Condominium 99 years Apr 17 495 700,000 1,414 Uncompleted Sub Sale BOULEVARD 88 Apartment Freehold Apr 20 2,777 10,416,000 3,751 Uncompleted New Sale ESPARINA RESIDENCES EC 99 years Apr 23 1,066 1,180,000 1,107 2013 Resale BOULEVARD 88 Apartment Freehold Apr 21 1,313 4,472,000 3,405 Uncompleted New Sale FLO RESIDENCE Condominium 99 years Apr 17 786 818,000 1,041 2016 Resale ORION Apartment Freehold Apr 22 1,776 3,550,000 1,999 2008 Resale MARLENE VILLE Terrace Freehold Apr 22 2,476 2,100,000 848 2008 Resale PARVIS Condominium Freehold Apr 18 990 2,100,000 2,121 2012 Resale PIN MANSIONS Apartment Freehold Apr 22 1,249 1,420,000 1,137 1992 Resale THE DRAYCOTT Apartment Freehold Apr 17 2,637 4,680,000 1,775 1980 Resale EDGEPROP | MAY 6, 2019 • EP9

GAINS AND LOSSES

Top gains and losses from April 16 to 23 Most profitable deals PROJECT DISTRICT AREA (SQ SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE PROFIT ($) PROFIT ANNUALISED PROFIT HOLDING PERIOD FT) (2019) ($ PSF) (%) (%) (YEARS) 1 THE BOTANIC ON LLOYD 9 3,531 Apr 17 1,742 Sep 27, 2006 1,076 2,350,000 62 4 12.6 2 BALMORAL PLAZA 10 2,357 Apr 18 1,315 Aug 24, 2001 467 2,000,000 182 6 17.7 3 THE GRANGE 10 2,293 Apr 18 2,355 Nov 4, 2005 1,589 1,756,440 48 3 13.5 4 THE DRAYCOTT 10 2,637 Apr 17 1,775 Jul 1, 1996 1,232 1,430,000 44 2 22.8 5 THE ARCADIA 11 3,714 Apr 22 983 Jul 27, 2006 700 1,050,000 40 3 12.7 6 EMERY POINT 15 1,302 Apr 23 1,228 Jul 6, 2017 557 875,000 121 55 1.8 7 HILLVIEW HEIGHTS 23 1,647 Apr 18 1,177 Apr 20, 1996 698 788,000 69 2 23.0 8 PARK INFINIA AT WEE NAM 11 1,690 Apr 18 1,965 Oct 28, 2009 1,500 785,000 31 3 9.5 9 PARC PALAIS 21 1,238 Apr 23 1,204 Feb 26, 1999 578 775,000 108 4 20.2 10 EMERY POINT 15 1,302 Apr 22 1,190 Sep 19, 2003 607 760,000 96 4 15.6 11 THE WINDSOR 20 1,658 Apr 17 1,047 Dec 15, 2009 621 705,000 68 6 9.3 12 CAVENAGH COURT 9 1,862 Apr 22 1,654 Aug 15, 2014 1,289 680,000 28 5 4.7 13 PARKSHORE 15 1,636 Apr 17 1,534 Dec 22, 2016 1,131 660,000 36 14 2.3 14 PIN MANSIONS 19 1,249 Apr 22 1,137 Aug 12, 1996 633 630,000 80 3 22.7 15 COUNTRY GRANDEUR 20 1,442 Apr 18 1,248 Apr 4, 2011 832 600,000 50 5 8.0 Non-profitable deals PROJECT DISTRICT AREA (SQ SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD FT) (2019) ($ PSF) (YEARS) 1 A A LT O 15 1,528 Apr 18 2,094 Apr 13, 2011 2,303 319,700 9 1 8.0 2 ESPADA 9 646 Apr 18 2,013 Jul 30, 2010 2,327 203,113 14 2 8.7 3 EURO-ASIA COURT 9 1,658 Apr 18 1,448 Jul 1, 2007 1,508 100,000 4 0.3 11.8 4 LIVIA 18 1,345 Apr 17 899 May 17, 2012 974 100,000 8 1 6.9 5 THE VERVE 12 441 Apr 22 1,394 Oct 10, 2012 1,575 80,000 12 2 6.5 6 FAIRMOUNT CONDOMINIUM 16 1,227 Apr 22 896 Jan 7, 2013 962 80,000 7 1 6.3 7 WATERSCAPE AT CAVENAGH 9 1,378 Apr 17 1,742 Mar 15, 2010 1,799 78,000 3 0.4 9.1 8 ESTELLA GARDENS 17 657 Apr 22 982 Jun 4, 2012 1,081 65,000 9 1 6.9 9 L'VIV 11 990 Apr 22 2,070 Dec 22, 2010 2,133 62,100 3 0.4 8.3 10 THE LUXURIE 19 775 Apr 23 1,187 Jan 30, 2013 1,215 21,900 2 0.4 6.2

Source: URA, EdgeProp Note: Computed based on URA caveat data as at April 30 for private non-landed houses transacted between April 16 and 23. The profit and loss computation excludes transaction costs such as stamp duties.

DONE DEALS

Residential transactions with contracts dated April 16 to 23

LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE TYPE OF FLOOR AREA TRANSACTED PRICE TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) COMPLETION DATE SALE PRIVE EC 99 years Apr 16 775 788,000 1,017 2013 Resale PARC PALAIS Condominium Freehold Apr 16 958 1,060,000 1,106 1999 Resale RESIDENCES @ JANSEN Apartment 999 years Apr 16 1,216 1,138,000 936 2008 Resale PARC PALAIS Condominium Freehold Apr 23 1,238 1,490,000 1,204 1999 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 16 872 1,137,720 1,305 Uncompleted New Sale TERRENE AT BUKIT TIMAH Condominium 999 years Apr 17 1,001 1,480,000 1,478 2013 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 16 1,109 1,416,000 1,277 Uncompleted New Sale District 22 RIVERFRONT RESIDENCES Apartment 99 years Apr 16 517 726,000 1,405 Uncompleted New Sale IVORY HEIGHTS Condominium 100 years Apr 18 1,701 1,600,000 941 Unknown Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 17 463 623,000 1,346 Uncompleted New Sale PARC OASIS Condominium 99 years Apr 17 1,399 1,310,000 936 1994 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 19 915 1,200,000 1,312 Uncompleted New Sale THE LAKEFRONT RESIDENCES Condominium 99 years Apr 16 764 1,080,000 1,413 2014 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 19 872 1,127,000 1,293 Uncompleted New Sale District 23 RIVERFRONT RESIDENCES Apartment 99 years Apr 20 1,066 1,346,000 1,263 Uncompleted New Sale HILLBROOKS Condominium Freehold Apr 22 1,227 1,227,000 1,000 1999 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 20 872 1,101,000 1,263 Uncompleted New Sale HILLVIEW HEIGHTS Condominium Freehold Apr 18 1,647 1,938,000 1,177 1996 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 20 872 1,112,000 1,275 Uncompleted New Sale HILLVIEW REGENCY Condominium 99 years Apr 17 1,119 1,030,000 920 2005 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 20 463 638,000 1,378 Uncompleted New Sale HILLVIEW REGENCY Condominium 99 years Apr 18 1,130 1,060,000 938 2005 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 21 721 917,000 1,272 Uncompleted New Sale NORTHVALE Apartment 99 years Apr 18 1,324 1,038,000 784 1998 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 21 517 676,000 1,308 Uncompleted New Sale PAVILION PARK Terrace Freehold Apr 17 2,153 3,060,000 1,421 2011 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 21 517 695,000 1,345 Uncompleted New Sale THE DAIRY FARM Condominium Freehold Apr 18 1,281 1,500,000 1,171 1989 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 21 517 682,000 1,320 Uncompleted New Sale TREE HOUSE Condominium 99 years Apr 16 1,012 965,000 954 2013 Resale RIVERFRONT RESIDENCES Apartment 99 years Apr 21 463 645,000 1,394 Uncompleted New Sale WINDERMERE EC 99 years Apr 17 1,281 875,000 683 1999 Resale RIVERSOUND RESIDENCE Condominium 99 years Apr 16 753 838,000 1,112 2015 Resale District 25 SERANGOON GARDEN ESTATE Detached 999 years Apr 18 4,962 5,900,000 1,190 1997 Resale NORTHOAKS EC 99 years Apr 16 2,347 1,090,000 465 2000 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 18 667 1,055,000 1,581 Uncompleted New Sale WOODGROVE ESTATE Terrace 99 years Apr 18 1,938 1,820,000 939 1995 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 19 721 997,000 1,382 Uncompleted New Sale District 26 THE FLORENCE RESIDENCES Apartment 99 years Apr 20 936 1,346,000 1,437 Uncompleted New Sale THE ESSENCE Apartment 99 years Apr 18 1,001 1,115,000 1,114 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Apr 20 527 747,000 1,416 Uncompleted New Sale THE ESSENCE Apartment 99 years Apr 21 732 1,013,950 1,385 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Apr 21 753 1,073,000 1,424 Uncompleted New Sale District 27 THE FLORENCE RESIDENCES Apartment 99 years Apr 21 1,001 1,269,000 1,268 Uncompleted New Sale EIGHT COURTYARDS Condominium 99 years Apr 22 1,152 1,150,000 998 2014 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 21 667 951,000 1,425 Uncompleted New Sale EUPHONY GARDENS Condominium 99 years Apr 22 1,421 860,000 605 2001 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 21 936 1,376,000 1,469 Uncompleted New Sale NORTHWOOD Condominium Freehold Apr 17 1,313 1,120,000 853 2009 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 21 527 798,000 1,513 Uncompleted New Sale SPRINGHILL Terrace 99 years Apr 23 2,960 1,338,000 452 2005 Resale THE FLORENCE RESIDENCES Apartment 99 years Apr 21 1,098 1,383,000 1,260 Uncompleted New Sale THE CANOPY EC 99 years Apr 22 1,302 1,135,000 871 2014 Resale THE GARDEN RESIDENCES Apartment 99 years Apr 16 474 698,500 1,475 Uncompleted New Sale District 28 THE GARDEN RESIDENCES Apartment 99 years Apr 19 452 707,700 1,565 Uncompleted New Sale NIM COLLECTION Terrace 99 years Apr 21 1,615 2,802,000 1,735 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Apr 21 452 705,500 1,561 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 16 969 1,307,112 1,349 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Apr 21 614 937,100 1,527 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 16 786 1,050,112 1,336 Uncompleted New Sale THE LUXURIE Condominium 99 years Apr 23 775 920,000 1,187 2015 Resale PARC BOTANNIA Condominium 99 years Apr 16 872 1,100,000 1,262 Uncompleted New Sale THE MINTON Condominium 99 years Apr 18 1,324 1,460,000 1,103 2013 Resale PARC BOTANNIA Condominium 99 years Apr 16 1,281 1,627,660 1,271 Uncompleted New Sale District 20 PARC BOTANNIA Condominium 99 years Apr 16 861 1,073,790 1,247 Uncompleted New Sale COUNTRY GRANDEUR Condominium Freehold Apr 18 1,442 1,800,000 1,248 1996 Resale PARC BOTANNIA Condominium 99 years Apr 16 872 1,094,112 1,255 Uncompleted New Sale JADESCAPE Condominium 99 years Apr 16 904 1,525,900 1,688 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 17 667 874,112 1,310 Uncompleted New Sale JADESCAPE Condominium 99 years Apr 17 904 1,593,200 1,762 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 17 872 1,140,720 1,308 Uncompleted New Sale JADESCAPE Condominium 99 years Apr 19 904 1,487,100 1,645 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 18 667 883,000 1,323 Uncompleted New Sale JADESCAPE Condominium 99 years Apr 19 646 1,148,300 1,778 Uncompleted New Sale PARC BOTANNIA Condominium 99 years Apr 19 969 1,246,000 1,286 Uncompleted New Sale LAUW & SONS GARDEN Detached Freehold Apr 18 10,032 11,188,888 1,115 Unknown Resale PARC BOTANNIA Condominium 99 years Apr 20 1,281 1,642,210 1,282 Uncompleted New Sale SKY HABITAT Condominium 99 years Apr 17 2,551 3,592,000 1,408 2015 Resale PARC BOTANNIA Condominium 99 years Apr 20 872 1,181,000 1,355 Uncompleted New Sale THE WINDSOR Condominium Freehold Apr 17 1,658 1,735,000 1,047 1988 Resale PARC BOTANNIA Condominium 99 years Apr 20 667 896,280 1,343 Uncompleted New Sale THOMSON GRAND Condominium 99 years Apr 16 1,378 1,750,000 1,270 2015 Resale PARC BOTANNIA Condominium 99 years Apr 20 667 903,070 1,353 Uncompleted New Sale THOMSON THREE Apartment 99 years Apr 22 732 1,160,000 1,585 2016 Resale PARC BOTANNIA Condominium 99 years Apr 21 1,281 1,635,420 1,277 Uncompleted New Sale District 21 DAINTREE RESIDENCE Condominium 99 years Apr 18 710 1,088,100 1,532 Uncompleted New Sale DISCLAIMER: DAINTREE RESIDENCE Condominium 99 years Apr 19 560 1,050,700 1,877 Uncompleted New Sale Source: URA Realis. Updated April 30, 2019. The Edge Publishing Pte Ltd shall not be responsible for any DAINTREE RESIDENCE Condominium 99 years Apr 19 678 1,071,000 1,579 Uncompleted New Sale loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein. ENG KONG PARK Semi-Detached Freehold Apr 18 3,315 5,150,000 1,554 Unknown Resale EC stands for executive condominium GARDENVISTA Condominium 99 years Apr 18 1,141 1,550,000 1,358 2006 Resale HILLVIEW GREEN Condominium 999 years Apr 17 1,033 955,000 924 1998 Resale MAYFAIR GARDENS Condominium 99 years Apr 20 570 1,186,000 2,079 Uncompleted New Sale MAYFAIR MODERN Condominium 99 years Apr 21 689 1,445,000 2,098 Uncompleted New Sale TOH TUCK DRIVE Terrace 999 years Apr 17 2,368 3,850,000 1,629 1991 Resale PANDAN VALLEY Condominium Freehold Apr 17 1,335 1,833,000 1,373 1978 Resale EP10 • EDGEPROP | MAY 6, 2019

MARKET TRENDS

Retail rents fall 0.2% in 1Q2019, prices down 1.9%

CAPITALAND is “likely due to a changing tenant profile such Funan, and PLQ Mall, says Song. She says sup- as the increasing take-up of prime retail space ply “should taper off significantly from 2020”. by rent-sensitive occupiers with large space Sim expects overall vacancy rates to “com- requirement”. press”. This takes into account the physical In 4Q2018, SuperPark opened in Suntec City occupation of recent completions like Jewel and Holey Moley opened in Clarke Quay. Tay Changi Airport and the asset enhancement notes that Nerf Action Xperience and kidzto- of TripleOne Somerset. The supply pipeline pia will be opening in in the is also expected to tighten over the next few coming quarters. years, he adds.

Stocks and vacancy Outlook URA says the net amount of occupied retail This year, ground-floor retail rents in prime space shrank by 14,000 sq m (150,690 sq ft) shopping centres along Orchard Road will in 1Q2019. The previous quarter saw a net in- rise marginally by 1-2% y-o-y, due to the crease of 24,000 sq m. Overall vacancy rate of lack of new stock, says Song, while prime retail space rose to 8.7% at end-1Q2019, from floor rents for suburban regional centres 8.5% at end-4Q2018. should stabilise. Desmond Sim, head of research, Southeast JLL’s Tay says the expansion plans of Ma- Asia, CBRE, notes that with new supply com- rina Bay Sands and ing onto the market, vacancy rates have risen should inject confidence in the medium-term from 9.6% in 4Q2018 to 9.9% in 1Q2019. The prospects of Singapore’s tourism and retail in- Orchard Road area has seen a higher vacan- dustries. This would in turn lend support to cy rate of 6.1%. demand for retail space. Upcoming retail supply in 2019 includes Funan (pictured), and PLQ Tricia Song, head of research for Singapore CBRE’s Sim sees the retail market remain- at Colliers International, says recent retail mall ing “a two-tier market with resilience in the | BY BONG XIN YING | Tay Huey Ying, head of research and con- Reits’ financial results saw some improvement prime spaces while secondary spaces and sultancy, JLL Singapore, says that with both in shopper traffic in their malls in 1Q2019, as floors remain challenging”. He adds: “Land- rices of retail space decreased by 1.9% the rent and price indices of retail space in the well as positive rental reversions, “underscor- lords for such secondary spaces would have q-o-q in 1Q2019, compared to the in- Central Region returning to the “contraction- ing some success in their proactive asset and to strike a fine balance between occupancy crease of 1.5% q-o-q in the previous ary mode” following 4Q2018’s expansion, the lease management”. and rental values.” quarter, according to the latest URA statistics point to a retail property market that She expects retail space supply in the Central Tay says ongoing restructuring in the retail statistics. Rentals of retail space fell is “still trying to find its footing”. Region, city fringe and suburban areas in 2019 space will likely see the URA retail rental in- Pby 0.2% q-o-q, compared to the 1.2% q-o-q She says that the marginal 0.2% q-o-q de- to rise by 2% of the current stock. Upcoming dex “flip-flopping between marginal up- and rise in 4Q2018. cline for rents in the Central Region in 1Q2019 supply in 2019 includes Raffles Hotel Arcade, down-ticks in the short term”. E Office rents decline 0.6% in 1Q2019

in the previous quarter. In the Central Region, land-wide vacancy rate of office space declined office prices were 8.9% above the recent low to 11.8% at the end of 1Q2019, from 12.1% as in 2Q2017. at the end of the previous quarter. Based on Colliers’ research, CBD Premium As at the end of 1Q2019, there was a to- and Grade-A gross effective rents grew 2.3% tal supply of about 733,000 sq m GFA of office q-o-q to $9.64 psf in 1Q2019. Increasing land- space in the pipeline, compared with the 732,000 lord confidence underpinned lower incentives sq m GFA of office space in the pipeline in the and rental uplift. previous quarter. Colliers says the net absorption in 1Q2019 According to JLL’s Tay, JLL “remains upbeat” was driven by technology and flexible work- about the prospects for Singapore’s office leas- space sectors, as vacancy tightened to 3.9% ing market. This is due to the steady demand as of end-March 2019 from 5.4% as of end-De- for office space shown by the healthy pre-com- cember 2018. mitments for schemes scheduled for comple- Rentals of office space decreased by 0.6% in 1Q2019, compared with a 0.5% increase in 4Q2018 It forecasts that with a higher base for com- tion in 2019, namely 9 Penang Road and Funan. parison in 2018, CBD prime office rents will “This is amid tight vacancy of 6% for Grade-A likely grow at a slower pace – of about 8% – in office space in the CBD as of end-1Q19 which | BY BONG XIN YING | underpinned by diminishing availability of good 2019. Meanwhile, Grade-A and Premium CBD we expect to tighten further to below the fric- quality office space in the CBD for lease amid office vacancy is expected to continue to trend tional rate of 5% by the end of 2019,” she adds. hile island-wide occupancy and firm demand and limited new supply. below 6% until 2022. The supply squeeze will also continue to sales continued to improve, the According to JLL’s Tay, the correction reflected Office sales prices grew at an “accelerated give landlords the upper hand in lease negotia- rental index (Central Region) saw in URA’s 1Q2019 office rental index could be due pace, on the back of more en bloc transactions tions. “Barring adverse external shocks, there is its first decline in seven consec- to the “occurrence of more leases taking place during the quarter”, says Tricia Song, head of potential for 2019 to outperform 2018 in terms utive quarters, according to fig- in Category 2 offices as the availability of Cat- research for Singapore at Colliers Internation- of rent growth for Grade A office space in the Wures released from the Urban Redevelopment egory 1 offices for lease diminishes amid firm al. The transactions include the sale of Manu- CBD,” says Tay. Authority (URA) on April 26. Rentals of office demand”. She adds that a more active Catego- life Centre which was jointly acquired by ARA Referencing the CBD Incentive Scheme and space decreased by 0.6% in 1Q2019, compared ry 2 office leasing market could have dragged Asset Management and British property group the Strategic Development Incentive (SDI) with a 0.5% increase in 4Q2018. URA’s Office down the overall rental index for the quarter. Chelsfield for $555.5 million; six levels at Sun- Scheme, which were proposed in the URA Draft Rental Index for the Central Region in 1Q2019 “Category 1” refers to office space in build- tec City which were reportedly sold to Alpha Master Plan 2019, Colliers’ Song is optimistic is 8.6% below the most recent peak in 1Q2015. ings located in core business areas in Down- Investment Partners for $160 million, and an- that these schemes will reduce the availability Meanwhile, rent growth accelerated in 1Q2019 town Core and Orchard Planning Area which other floor at the same property that was sold of office space in the CBD and drive up rents. across almost all submarkets tracked, says Tay are relatively modern or recently refurbished, to an unnamed party for $8 million, adds Song. “Affected occupiers should explore options to Huey Ying, head of research and consultancy at command relatively high rentals and have large move to newer space within the CBD, or move JLL Singapore. JLL’s research showed the aver- floor plate size and gross floor area (GFA), Stocks and vacancy to city fringe offices or even to business parks, age monthly gross effective signing rents for a while “Category 2” refers to the remaining of- The amount of net occupied office space increased if applicable...investors could also look to add fixed basket of Grade-A office assets in the CBD fice space in Singapore which are not includ- by 19,000 sq m (204514 sq ft) in 1Q2019, com- value with redevelopment premiums to old- rose 3.7% q-o-q to $10.63 psf in 1Q2019 from ed in Category 1. pared with the increase of 39,000 sq m (nett) er buildings,” adds Song. “Broadly, we expect $10.25 psf in 4Q2018. This is faster than the in the previous quarter. Meanwhile, the stock reduced new CBD Grade-A office supply over 3.3% q-o-q rise in 4Q2018 and 2.3% q-o-q rise Prices and rentals of office space decreased by a net 6,000 sq m in 2019–2021, with annual expansion averaging in 3Q2018. The relentless increase in the rents Prices of office space increased by 3% q-o-q in 1Q2019, compared with a net increase of 59,000 2% of stock, and the continued tightening of of the basket of office assets tracked by JLL was 1Q2019, compared with a 2.4% increase q-o-q sq m in the previous quarter. Together, the is- vacancy should support rental growth.” E EDGEPROP | MAY 6, 2019 • EP11

UNDER THE HAMMER Unit at Skies Miltonia going for $1.14 mil

| BY BONG XIN YING | bedrooms offer partial swimming pool views. Tan adds that the unit is “still in a good, well- 1,130 sq ft unit at Skies Miltonia in kept condition” as the development was com- District 27 was put up for its first pleted just three years ago. auction on April 30, according to the Based on caveats, Skies Miltonia saw six auctioneer at Edmund Tie & Co (ET&- resale transactions this year. The most recent Co). This is a mortgagee sale, with transaction was for a 721 sq ft two-bedroom Aa guide price of $1.14 million ($1,008 psf). As apartment on the 10th floor that changed hands there were no bids, the unit was withdrawn. on April 2 at $780,000 ($1,082 psf). Meanwhile, It will be put up for its second auction on a 1,076 sq ft, three-bedroom unit on the 10th May 22, and the guide price is likely to re- floor was transacted at $1.08 million ($1,003 main the same. psf) at end-March. The fifth-floor unit will be sold with va- When it comes to similar-sized units as cant possession, on an “as is where is” basis. the one listed for auction, an apartment on The previous owner purchased it for $1.13 the eighth floor was sold for $1.22 million

million ($1,000 psf) from the developer in ($1,079 psf) in August last year, according to ET&CO October 2014, according to a caveat lodged caveats. “At $1,008 psf, we believe we have The unit enjoys partial pool views with URA Realis. the lowest psf price for a typical three-bed- Located at the junction of Miltonia Close room unit (excluding penthouses) available to enjoy old prices today. Furthermore, Orchid and Seletar Country Clubs and Yishun Avenue 1, Skies Miltonia is a 99- for sale now,” says Tan. Given the development’s proximity to GEMS are both less than a 10-minute drive away. year leasehold condo by TG Development, and She adds that while many other condos World Academy, Khoo Teck Puat Hospital and “With most buyers looking to buy for was completed in 2016. It has 92 years left on race to keep up with the current uptick in the Seletar Airport, Tan highlights that Skies Mil- their own stay, interest levels have been fair- its lease. The development comprises 420 units property cycle, the new buyer would be able tonia could benefit from a ready tenant pool. ly healthy,” says Tan. E in eight 13-storey blocks, and 10 townhouses. The units range from 484 sq ft one-bedders, to TABLES: URA, EDGEPROP SINGAPORE townhouses of 4,672 sq ft. Tucked away from the main road at Yishun Recent transactions at Skies Miltonia Recent rental contracts for Avenue 1, the three-bedroom unit up for auc- tion has “quiet” surroundings, says Joy Tan, CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) 1,100 - 1,200 sq ft units at head of auction and sales at ET&Co. The mas- Skies Miltonia ter bedroom comes with an en suite bath- Apr 2, 2019 721 780,000 1,082 room, while the two other bedrooms share Mar 29, 2019 1,076 1,080,000 1,003 LEASE DATE MONTHLY RENT ($) a common bathroom. The unit also comes Feb 26, 2019 969 980,000 1,012 with a closed-concept kitchen and a house- Feb 12, 2019 1,356 1,630,000 1,202 March 2019 2,200 hold shelter. Feb 1, 2019 1,076 1,050,000 975 March 2019 2,100 Meanwhile, the living room and all the three Jan 30, 2019 969 988,000 1,020 January 2019 2,500 EP12 • EDGEPROP | MAY 6, 2019

PROP HUNT CLASSIFIEDS

Properties for Sale  Scan QR code for more details  To be featured, email [email protected] or call 8822-2997

$6,500,000 $5,500,000 $4,300,000 $1,038,000 Gramercy Park Goodwood Residence Glentrees Vacanza @ East D10 GRANGE ROAD | Freehold D10 BUKIT TIMAH ROAD | Freehold D10 MOUNT SINAI LANE | 999 years D14 LENGKONG TUJOH | Freehold Size(sqft): 2,067 | PSF: $3,145 Size(sqft): 1,950 | PSF: $2,821 Size(sqft): 3,671 | PSF: $1,171 Size(sqft): 840 | PSF: $1,236 Bedroom: 3 Bedroom: 3 Bedroom: 4 Bedroom: 2 Condo with full facilities on Grange road. Company Condo with big pool, Tennis court, BBQ, Concierge 999 LH 4 bedroom in District 10,3 storey award FREEHOLD Resort like Elevated Patio unit facing Owned. Beautiful view of pool & greenery in heart of D10. Minutes walk to Newton Mrt. winning Townhouse by Capital Land with Full Pool. Selling with good Tenancy to 31 May 2020. from bedrooms. Concierge services, Spacious & Company Owned. Close to Orchard, ACS & Clubs. Condo Facilities. Call Ken Lam for viewing now! High ceiling possible to create a Loft. Quiet no road functional layout. Good choice for own stay or Spacious unit with rear side garden. Suitable for noise. Breezy. Feels over 1000sqft. investment. Tenanted till Feb 2020. own stay or investment. Tenanted till Nov 2019.

Sheela K Sheela K Ken Lam Ee Laine Ng SAVILLS RESIDENTIAL PTE LTD SAVILLS RESIDENTIAL PTE LTD PROPNEX REALTY PTE LTD ORANGETEE & TIE PTE LTD R051936J R051936J R016901G R048665I  65 9007 8445  65 9007 8445  65 9002 8631  65 9656 1860

$15,580,000 $10,800,000 $5,900,000 $4,900,000 Bungalow House Detached House Semi-Detached House Semi Detached House D11 HILLCREST ROAD | Freehold D4 SENTOSA COVE | 99 years D10 LIM TAI SEE WALK | Freehold D19 FLORENCE ROAD | 999 years Built-Up(sqft): 3,055 | Land(sqft): 10,219 Built-Up(sqft): 8,300 | Land(sqft): 7,043 Built-Up(sqft): 2,800 | Land(sqft): 2,382 Built-Up(sqft): 3,600 | Land(sqft): 4,333 PSF: $1,525 PSF: $1,533 PSF: $2,477 PSF: $1,131 Well-renovated modern 2-storey detached house 2.5 storey corner Modern Bungalow, 5 ensuites with Prime Land Ideal for A&A/Rebuild. Ample Parking, Super Nice Cul-De-Sac Semi-D that parks 4 car. with pool. Tranquil location and professional high quality fittings overlooking 100m unblocked Quiet Cul-De-Sac. 5 mins walk to Sixth Ave. Short Renovate / A&A drawings and design done. landscaping done for privacy. Park up to 5 cars. waterway for a 50ft yacht. Also Starbuy brand new 4 drive to Bukit Timah, Holland Village, Orchard & Ready for you to customize and complete. Wide Close to RGPS and eateries. Spacious ensuite storey homes 6 ensuites with lift & basement available Prestigious Primary Schools. Genuine Seller, View Width 12m, Good Depth 33m (est). Spacious living rooms. Motivated seller. View to appreciate. Call at 19xxpsf. ID option available. Huge discount for To Offer. and valued price. Magnificent real estate. Motivated now! limited period Seller!

Lyn Tay Rowena Chan Adrian Chay Matt Chiang ORANGETEE & TIE PTE LTD LIST INTERNATIONAL REALTY PTE LTD KF PROPERTY NETWORK PTE LTD SAVILLS RESIDENTIAL PTE LTD R060069I R051926C R057187G R032242G  65 9457 2767  65 9038 3166  65 9474 8825  65 9169 7684

$4,580,000 $3,400,000 $7,000,000 $1,580,000 Semi-Detached House Corner Terrace House Henderson Industrial Park The Central - Office for sale D20 THOMSON HILL | Freehold D23 PAVILION VIEW | Freehold D3 HENDERSON ROAD | Freehold D1 EU TONG SE STREET | 99 years Built-Up(sqft): 3,300 | Land(sqft): 3,845 Built-Up(sqft): 2,900 | Land(sqft): 2,315 Size(sqft): 8,482 | PSF: $825 Land(sqft): 646 | PSF: $2,446 PSF: $1,191 PSF: $1,469

Stylish tropical 2 storey Semi-D. Auspicious house Beautiful 3.5 storey corner terrace located in Rare Free Hold B1 Industrial Terrace Factory @ Best investment opportunity! Tenant since year 2015 number with wide frontage. Delightfully landscaped Pavilion Park. Nearest MRT station: Bukit Gombak Prime D03. 3 storeys corner unit, BIA 8,482 sq ft (Oil & Gas Industry) renew tenancy till June 2021 with koi pond. Extensive living & dining arenas, MRT Station. 4 spacious bedrooms with ensuite and 8 car park lots. Strata land size 6,200 sq ft. En @$4.1k/month. 23rd floor Office above Clarke Quay combine the elegance of formal indoor/outdoor bath, helper room, study room and a family & bloc target with URA 2014 plot ratio 2.5. UOB Bank MRT. Asking: $1.58m - rental yield: 3.11%. Viewing entertaining with the comfort of easy, family living. 4 entertainment room. An outdoor water feature valuation $7 million. strictly on weekdays. Call Nick @ 8588 8868. generously-sized bedrooms. Near Mayflower MRT & outside the dining room. Can park 2 cars. Serious Lower Peirce Reservoir Park. seller!

Kent Tan Alan Wee Jerry Lum Nick Tan HOME GURU PTE LTD ERA REALTY NETWORK PTE LTD ERA REALTY NETWORK PTE LTD ORANGETEE & TIE PTE LTD R023645H R024730A R032056D R052618I  65 9777 6777  65 9297 3150  65 8288 0098  65 8588 8868