PROPERTY PERSONALISED MCI (P) 047/08/2018 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of April 15, 2019 | ISSUE 877-99 CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park EDGEPROP | APRIL 15, 2019 • EPJ2 BARTLEY EUN OS LI N K PROUDLY DEVELOPED BY PROPERTY PERSONALISED MCI (P) 047/08/2018 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of April 15, 2019 | ISSUE 877-99 Co-working Offshore Gains and Losses Under the Hammer Lendlease launches Macau group targets rich Pebble Bay resale unit Duplex penthouse at new co-working brand Hong Kong retirees reaps $2.9 mil profit D’Zire going for $1.28 mil ‘csuites’ EP4 EP8 EP12 EP13 SingHaiyi roots for flower power The Singapore-listed property group will roll out three new projects this year, starting with the preview of The Lilium and The Gazania later this month, followed by that of Parc Clematis some time in 3Q2019. Turn to our Cover Story on Pages 6 & 7. The How Sun private housing estate where the sites of The Gazania CapitaLand’s(former Sun M&ARosier) will and give The it Lilium access (former to Ascendas-Singbridge’s How Sun Park) are Changisituated Business Park SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE CHUA/EDGEPROP ISAAC SAMUEL EP2 • EDGEPROP | APRIL 15, 2019 PROPERTY BRIEFS JLL JLL EDITORIAL Local EDITOR | Cecilia Chow DEPUTY EDITOR | Co-living operator Hmlet signs Amy Tan its largest property SENIOR WRITER | Timothy Tay Co-living operator Hmlet has signed WRITERS | Bong Xin Ying, a new property in the Tanjong Pa- Charlene Chin gar/Cantonment downtown area – its HEAD, COPY EDITING | Pek Tiong Gee largest dedicated co-living building so COPY EDITOR | far. Located at 150 Cantonment Road, Rachel Heng the property is also known as Canton- PHOTO EDITOR | Samuel Isaac Chua ment Centre. PHOTOGRAPHER | Albert Chua The property will comprise 150 EDITORIAL COORDINATOR | rooms which will be operated as ser- Yen Tan viced apartment units; they will be DESIGNER | The Big Box industrial building is connected to nearby buildings such The four-storey Joo Chiat building sits on a 4,686 sq ft site Kim Sy housed in two three-storey blocks that as JEM as well as Jurong East MRT Station have a total gross floor area of 47,352 ADVERTISING + sq ft. The property is on a 76,003 sq ft vestment and capital markets at Knight gross floor area of about 207,679 sq chanical car park for nine cars in the MARKETING ADVERTISING SALES site that is close to the Tanjong Pagar Frank Singapore, the marketing agent. ft. The JTC-owned land has a 60-year building. VICE-PRESIDENT, SALES & MRT Station and Outram Park MRT The site offers panoramic sea views tenure that starts from Feb 1, 1980, The new owner could have nam- OPERATIONS | Diana Lim interchange. and is near the upcoming Siglap MRT with 21 years left to the lease. ing and signage rights for the build- DEPUTY ACCOUNT DIRECTOR | Janice Zhu The property was part of a govern- station on the Thomson-East Coast The six-storey detached building has ing. The existing tenancies could be SENIOR ACCOUNT MANAGER | ment tender for the rental of state prop- Line that is expected to open in 2023. high floor loading, large floor plates terminated for an owner-occupier to James Chua erty. The tender was awarded to LHN The tender for Laguna Park clos- and high ceilings. A typical floor plate move in immediately, or an inves- ACCOUNT MANAGER | Facilities Management, which is an in- es on May 8. spans about 43,000 sq ft, while the av- tor could refurbish the building or Pang Kai Xin REGIONAL BUSINESS direct subsidiary of Singapore-based erage floor-to-ceiling height is about change the tenant mix. Alternative- DEVELOPMENT MANAGER | Cole Tan real estate management services group Big Box building in Jurong East seven metres. It has large passenger ly, the driveway could be decanted to HEAD OF MARKETING & BRANDING | LHN Limited. LHN will fully custom- put up for sale by managers and cargo lifts, as well as a covered make way for additional retail space Rachel Lim Shuling ise the design and renovation of the The Big Box industrial building in Ju- carpark and a ground-floor canteen. on the ground floor. CIRCULATION property to Hmlet’s requirements, and rong East has been put up for sale by The property is fully tenanted. It Based on a URA reply, up to 40% of MANAGERS | Ashikin Kader, build additional facilities like a swim- its receivers and managers. The de- has 15 tenants, with most of the tenan- the GFA could be considered for resi- Bryan Kek ming pool, a gym, and an all-day, in- velopment was last put up for sale in cies structured with rental escalation. dential use, says Clemence Lee, sen- EXECUTIVE | Malliga Muthusamy house café. May last year. The building is 400m from Paya ior director of capital markets, at JLL. CORPORATE The refurbished property will open The eight-storey facility is approved Lebar MRT Station, and is located The property is a 10-minute walk CHIEF EXECUTIVE OFFICER | in July. Hmlet is set to raise its mem- for Business 1 usage and will be offered within the Paya Lebar Central com- from Paya Lebar and Eunos MRT sta- Bernard Tong bership numbers to more than 2,400 with mostly vacant possession. The mercial hub. tions, and is a 15-minute drive to PUBLISHER in the Asia-Pacific this year. site area is 606,639 sq ft. The build- The completion of the nearby Paya the CBD. It is also accessible by the The Edge Property Pte Ltd ing has ramp-up warehouse specifica- Lebar Quarter has contributed to me- Pan-Island and Kallang-Paya Lebar 150 Cecil Street #13-00 Singapore 069543 Laguna Park attempts en bloc tions with ceiling heights of five to 18 dian office rents in the area rising by Expressways. Tel: (65) 6232 8688 sale again at $1.48 bil price metres, and a total gross floor area of almost 20% from its last trough in The sale will be made through an Fax: (65) 6232 8620 The 516-unit Laguna Park, located off 1.405 million sq ft. 4Q2018. “The lack of supply of high- expression of interest exercise, which Marine Parade Road, has relaunched a Big Box is connected to nearby spec industrial space in central areas closes on May 14. PRINTER KHL Printing Co Pte Ltd collective sale bid at $1.48 billion. The buildings such as JEM, and its under- like Paya Lebar has also pushed the 57 Loyang Drive 40-year-old residential estate last at- ground pedestrian walkways provide rents for such spaces above $3 psf per Freehold industrial building in Singapore 508968 tempted a collective sale in September direct access to Jurong East MRT Sta- month,” says Shaun Poh, executive di- Aljunied for sale at $23 mil Tel: (65) 6543 2222 Fax: (65) 6545 3333 last year with the same price tag. Two tion. There are 1,726 carpark lots and rector of capital markets at Cushman A freehold industrial building at 51 earlier collective sale attempts were ancillary container and lorry parking & Wakefield, which is the sole mar- Lorong 21 Geylang is on the market PERMISSION AND made in 2007 and 2010. lots on the site. keting agent for the sale of the Eunos for $23 million, or $599 psf per plot REPRINTS Including the latest estimates for The facility was completed in 2014. Avenue 3 property. ratio, according to Edmund Tie & Co Material in The Edge Property may not be reproduced in any an additional differential premium and The site has a remaining land tenure The sale will be made through an (ET&Co), the sole marketing agent form without the written lease top-up, the reserve price trans- of 18 years. The building is suitable expression of interest exercise, which for the sale. permission of the publisher lates to a land rate of $1,231 psf per for corporates with e-commerce and closes on May 16. The property is held under a single plot ratio. The differential premium technology platforms, large-scale logis- ownership which is likely to make for We welcome your comments is estimated to be $407.4 million for tics operators, and third-party service Freehold commercial building a straightforward sale. “The relatively and criticism: propertyeditor.sg@ the intensification of the site to a plot providers. It is near Jurong Port and in Joo Chiat on the market for palatable quantum of the property pre- bizedge.com ratio of 2.8, and the top-up premium the Jurong Lake District. $20 mil sents a rare opportunity for end-users Pseudonyms are allowed but for a fresh 99-year lease is expected JLL has been appointed to conduct A freehold commercial building at 118 and developers to acquire a rare free- please state your full name, to cost $420.7 million. an expression of interest (EOI) exercise Joo Chiat Road has been launched for hold industrial site at a city-fringe lo- address and contact number for Laguna Park is a 99-year leasehold for the facility. The EOI was launched sale at a guide price of $20 million. cation,” says Swee Shou Fern, exec- us to verify. residential estate comprising seven on April 9 and bids are due on May 23. The price translates to about $1,077 utive director of investment advisory residential blocks and 12 commercial psf on the existing gross floor area at ET&Co.