Archive for category: Misc

The launch of Shenton House for collective sale comes on the back of six office transactions that have taken place since January this year.

At Zion Road Condo, natural elements aren’t just for show. Maximising the positive effects of nature, the building has been designed in the most energy-efficient manner, making full use of sunlight and the wind’s direction to naturally cool the premises. In terms of resource management, water collection and recycling systems further reduce water usage, and the solar panels allow for ultimate sustainability.

Overall, Zion Road Condo stands out from the rest with its commitment to environmental friendliness and resource sustainability. With green initiatives being put into practice, residents can enjoy a peaceful and eco-friendly lifestyle.

Shenton House, a commercial building on Shenton Way in Central Business District (CBD) of Singapore has been relaunched for collective sale. JLL, the marketing agent, announced that reserve price of $538 million has been set, 8.8% reduction from $590 million during the previous collective sale launch. This proposed price requires approval of at least 80% of the owners.

The land rate stands at $1,898 psf per plot ratio based on a GPR of 14, inclusive of estimated land betterment charge and lease-top premium for a new 99-year term.

The site sits on 36,250 sq ft with triple frontages along Shenton Way, Park Street and Shenton Lane. Under the CBD Incentive Scheme, offered by Urban Redevelopment Authority, it is eligible for 25% bonus GFA which allows it to be turned into a mixed-use or hotel development. The scheme is set to expire in November 2024.

Tan Hong Boon, executive director at JLL Capital Markets, stated that redevelopment offers an opportunity to further rejuvenate the CBD with integrated city living with apartments, serviced apartments and prime Grade A offices.

The collective sale of Shenton house tender will close on Aug 1 at 3pm. This comes after several office transactions that have taken place since January.

Shenton House, located in Singapore’s CBD, has been relaunched for collective sale with a reduced reserve price of $538 million, an 8.8% reduction from the previous $590 million reserve price. JLL, the appointed marketing agent, announced that the lower reserve price requires the support of at least 80% of the owners.

The land rate stands at $1,898 psf per plot ratio, inclusive of estimated land betterment charge and lease-top premium for a new 99-year term, based on a GPR of 14.

The site occupies 36,250 sq ft and has three prominent facades along Shenton Way, Park Street and Shenton Lane. It is eligible for a 25% bonus GFA incentive from the URA, allowing the site to be redeveloped into either a mixed-use or hotel development. The incentive scheme expires in November 2024.

Tan Hong Boon, executive director of JLL Capital Markets commented that it is an ideal opportunity to further rejuvenate the CBD with integrated city living, allowing for prime Grade A offices as well as apartments and serviced apartments to occupy the site.

The tender process of the collective sale will close on Aug 1 at 3pm. This follows a series of office transactions that have occurred since January.