logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Singapore
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
+65 6224 8181
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Global Investors)
      • Property Management
      • Valuation & Advisory Services
    • Industries & Specialties
      • Office
      • Retail
      • Industrial & Logistics
      • Data Centres
      • Hotels
      • Japan Desk
      • Residential
      • Sustainability
      • Flexible Workspace
    • Services for Investors
      • Capital Advisors
      • Consulting
      • Host
      • Investment Accounting & Reporting Solutions
      • Leasing & Advisory
      • Project Finance
      • Property Management
    • Services for Occupiers
      • Enterprise Facilities Management
      • Host
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Project Finance
      • Transaction Management
      • Workplace
  • Properties
    • Office
      Retail
      Industrial
      Flexible Office
      Residential
      Shophouse
      Hospitality
  • Research & Reports
    • About Research
      Singapore Research Archives
      South East Asia Research
      Asia Pacific Research
      Global Research Gateway
      Global Research Gateway Support
  • People & Offices
  • About CBRE
    • Careers
      Client Tools
      Corporate Information
      Corporate Responsibility
      Case Studies
      Investor Relations
      Media Centre
      Asia Media Centre
      Expert Opinions
      CBRE 60 Anniversary

Previous

Press Release
CBRE comments on URA's flash estimate of Q1 2020 Residential Property Price Index

Next

Press Release
CBRE comments on Resilience Budget 2020
  • freehold properties for sale

A defensive portfolio of assorted freehold properties for sale by Expression of Interest

Singapore | April 1, 2020
  • Email
  • Share
  • Tweet
  • Share

Comprising two mixed-use buildings, two shophouse and six industrial units

CBRE is pleased to launch for sale, via Expression of Interest, a portfolio of income-producing freehold properties which is segregated into two clusters – enbloc buildings and strata-titled units. Buyers have the option to purchase them either on a cluster basis or collectively as one portfolio. 

Enbloc building cluster:

104 & 106 Jalan Jurong Kechil 
Built in the late 1980s, 104 and 106 Jalan Jurong Kechil is a 4-storey development comprising two F&B shops on the ground floor, two commercial schools on the second floor and 16 residential units on the third and fourth floors. Sitting on a 3,623-square-foot land zoned “Residential with commercial at first storey”, the property has a maximum permissible gross floor area of approximately 8,507 square feet. The property has undergone extensive A&A works in 2016 and is fully tenanted as at 31 March 2020.

Stephen Ho (何志華), Head of Residential Services at CBRE, says, “This property presents a valuable opportunity to acquire a single income-producing asset of freehold tenure within the mature and affluent Bukit Timah district, one of Singapore’s largest private landed residential enclaves. As the property comes with six strata titles, the successful buyer will have the flexibility for strata sell-down in the future.”

261 Outram Road
261 Outram Road is a 4-storey pre-war conservation block with an estimated built-up area of 7,325 square feet. It sits on a 2,276-square-foot site zoned “Residential with commercial at 1st storey” under the 2019 Master Plan. The property is fully tenanted to a fitness gym on the ground floor and a co-living operator on the upper floors. Located directly opposite YWCA Outram Centre, the property is within five minutes’ walk from Havelock MRT station on the Thomson-East Coast line that is scheduled to be operational end-2021.

Mr Ho adds, “As this property was extensively refurbished in 2016, we do not foresee any large capital expenditure required in the near future. With a prominent frontage along Outram Road, the property is suitable for owner-occupiers who are looking for building naming and signage rights.” 

Strata-titled unit cluster: 

101 and 101A Soo Chow Walk 
101 and 101A Soo Chow Walk is a corner two-storey shophouse with total strata floor area of 3,477 square feet. The property sits on a site listed under the two-storey envelope control and street block plan and is zoned for full commercial usage.  Featuring a long frontage of approximately 35 metres along Soo Chow Walk and Lor Mega, the shophouse is currently tenanted to a commercial school. 

Located off Upper Thomson Road, the property is a one-minute walk to the Upper Thomson MRT station, which is slated to open by the end of this year. The property is open to both local and foreigner buyers with no additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the purchase of the property. 

Six units at Ann Chuan Complex
Ann Chuan Complex is a six-storey light industrial building located at 115 King George’s Avenue. The total strata floor area of the six strata-titled units is approximately 9,999 square feet. Apart from the ground-floor unit that is approved for F&B use, the remaining five units are to be used for light industrial activities. The 3,401 square foot ground-floor unit is currently tenanted to a hipster café. The property is a short five-minute walk to both Lavender and Bendemeer MRT stations. 

Clemence Lee (利伟强), Senior Director of Capital Markets at CBRE says, “The portfolio presents a unique opportunity to acquire various income-producing asset types at one go.  What’s more, these freehold properties are located in Singapore’s popular districts – Bukit Timah, Tiong Bahru and Lavender and are commanding a price that is palatable to the market.” 

“At an indicative price of S$51 million for the entire portfolio, it translates to about S$1,740 per square foot on the total floor area of 29,308 square feet. The portfolio’s yield is approximately 3% based on the 95% occupancy as at 31 March 2020.

On a cluster basis, we expect offers within the ballpark of S$30 million for the enbloc buildings at Jalan Jurong Kechil and Outram Road, which works out to about S$1,895 per square foot on the maximum permissible gross floor areas. Separately, the indicative price for the strata-titled unit cluster is in the range of S$21 million, which works out to about $1,558 per square foot on the strata floor area.” 

Mr Ho adds, “Due to the assorted nature and high occupancy rate of the portfolio, we expect strong interest from a varied pool of both local and foreign buyers who are seeking such income-producing properties for immediate rental income stream, yet still have the potential of capital appreciation in the medium to long term. 

“We have observed increasing enquiries from investors, including family offices and high net worth individuals, who are looking to reallocate their funds from the stock market into real estate for more stable returns. We believe that more investors will turn into real estate as a defensive instrument play, in view of the current low interest rate environment.”

CBRE is the sole marketing agent for this Expression of Interest exercise, which closes on 6 May 2020 at 3pm.


END

 

Follow us on Twitter: @cbresingapore
And on LinkedIn: company/cbre-asia-pacific

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.

Media Contacts

liching
Li Ching Seah
Associate Director
Singapore
Marketing & Communications
+65 6326 1209
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • People & Offices
  • Investor Relations
  • Contact Us
  • Global Web Privacy and Cookie Policy
  • Singapore Privacy Policy
  • Sitemap
  • Disclaimer
  • Terms of Use
  • LinkedIn
  • Twitter
  • Youtube
  • Facebook
  • Instagram