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PR Newswire
13-03-2013, 10:11 AM
The market focus has shifted from residential to commercial properties. Once S$1,000 psf is a barrier for residential properties, which is a norm now. Is S$1000 psf for commercial properties with shorter lease justify? Hmm....
Strong interest for Venture Avenue commercial site
SINGAPORE — A tender for the commercial site on Venture Avenue drew interest from nine contenders, with the top bid of S$701.1 million coming from Sim Lian Group. That translates to S$1,009 per sq ft per plot ratio and is 9 per cent more than the second highest bid.
Mr Desmond Sim, Associate Director of CBRE Research, noted that the top price set a new benchmark for suburban commercial land.
“The plot is located within Jurong Gateway, identified to be a key commercial hub in the West. URA’s concept plan provides for a mix of office, retail, residential, hotel, entertainment and F&B uses,” he said.
http://www.todayonline.com/business/stro...rcial-site
Strong interest for Venture Avenue commercial site
SINGAPORE — A tender for the commercial site on Venture Avenue drew interest from nine contenders, with the top bid of S$701.1 million coming from Sim Lian Group. That translates to S$1,009 per sq ft per plot ratio and is 9 per cent more than the second highest bid.
Mr Desmond Sim, Associate Director of CBRE Research, noted that the top price set a new benchmark for suburban commercial land.
“The plot is located within Jurong Gateway, identified to be a key commercial hub in the West. URA’s concept plan provides for a mix of office, retail, residential, hotel, entertainment and F&B uses,” he said.
http://www.todayonline.com/business/stro...rcial-site
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