Category Archives: Paya Lebar/Ubi

Richfield Industrial Centre for Sale @ $724K only

Business space for sale at Eunos/Paya Lebar region. Only $724K for 1593sqft.

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Accessibility

Richfield Industrial Centre is accessible via Eunos Avenue 7 and conveniently located along the expressway at Paya Lebar Way. Commuters will be glad to know that within close proximity are Paya Lebar, MacPherson and Eunos MRT Stations. Bus services from the several bus stops nearby at Ubi and Paya Ubi areas contribute to the Industrial Centre’s ease of access.

Amenities

With the introduction of iPark, Paya Lebar estate is set to transform from a cluster of workshops and factories to a modern new generation Business Park where the notion of live, work and play will actualized.  Expect popular food chains like Din Tai Fung, the BreadTalk Group and Sakae Sushi, as well as retail shops like Charles & Keith and Reebonz, which adds to the liveliness of the location.

As a tribute to Paya Lebar rich cultural heritage, the new civic centre Wisma Geylang Serai will be completed in 2017.  In the Facebook of Prime Minister Mr Lee Hsien Loong, he said, “The new Wisma Geylang Serai is progressing well. I like the winning design unveiled yesterday. The centre will house a community club, the Southeast CDC office, arts and culture groups…”

Wisma Geylang Serai will become the key hub of Paya Lebar Central with enhanced connectivity of pedestrian networks, connecting adjacent facilities such as the Geylang Serai Market, Joo Chiat Complex and the Paya Lebar MRT Station.

Richfield Industrial Centre is also within reasonable distance to Giant Supermarket, Tanjong Katong Complex, Joo Chiat Complex, One KM and City Plaza so all your shopping and everyday needs are well-satisfied.

Features

The development comprises one 8-storey block for warehouses and factories and another block of 2 ½-storey terrace factories. Select from a choice of warehousing and light industrial units to cater to your business needs. For the expediency of our tenants, Richfield Industrial Centre has included special features like 12 container loading / unloading platforms and 8 passenger / goods lifts that serve all floors.

Richfield Industrial Centre’s modern functional design and features will provide you with greater working efficiency

First East Centre for Rent at $3.9K

Looking for industrial property in the east? Look first here. First East centre #03 ( B2 ) at Ubi. Size : 2625 sft, with mezzanine + 2 parking lots with unit attached toilet. Rental fee@fr $1.49 psf, subject to GST. Available now. Call David King @ 94772121 for viewing.

http://www.sgbayhomes.com/19331728

First East Centre is a 30-year Leasehold commercial property located at 10, Kaki Bukit Road 2, 417868 in District 14. First East Centre is primarily used for Factory/Workshop (B2) space rent and sale. First East Centre is close to Tai Seng MRT Station (CC11) and MacPherson MRT Station (CC10). It is near to several bus stops located KB Warehouse Complex, Airport Road and others.

Amenities near First East Centre

First East Centre is near to several eateries located at nearby buildings such as East Coast International Seafood and Thai Luang Canteen.

First East Centre is within reasonable distance to Prime Supermarket. It is also close Kembangan Plaza for an array of amenities such as grocery and retail shopping, banks and more.

First East Centre is accessible via Bartley Road East, Eunos Link and Pan Island Expressway.

Aussie developer has big plans for Paya Lebar site

A massive mixed-use site in Paya Lebar Central is set to showcase Lend Lease’s urban renewal strengths, according to Mr Rod Leaver, the Australian property giant’s chief executive in Asia. “We have many construction projects, in the life sciences and education sectors for example, with strong sustainability outcomes for our clients,” he said. “But where we make the biggest impact is when we have our own large-scale developments,” he told The Straits Times in an interview earlier this month. “Thinking about urban regeneration, at scale, is for Lend Lease the opportunity in Singapore.” The developer of 313@Somerset and Jem in Singapore is developing Barangaroo South in Sydney, part of a 22ha former industrial site near the city. The precinct will have about 5.27 million sq ft of mixed-use gross floor area. Already, HSBC Holdings and PricewaterhouseCoopers have signed leases. In Central London, in a tie-up with Southwark Council, the firm is developing three sites on 11.33ha in Elephant & Castle, in a £1.5 billion (S$3.1 billion) regeneration plan to add 3,000 new homes and 200,000 sq ft of mixed-use space. He said: “Each of the regions in our international business is strongly pursuing the integrated model, looking at urban regeneration and pursuing opportunities to work with governments.” The firm’s integrated model covers the full property value chain from funding to managing projects, including design, development, construction and investment management. Lend Lease Group’s business in Asia contributed A$156.3 million (S$165 million) in revenue for the half-year to Dec 31 last year. Australia led with A$3.34 billion in revenue, followed by A$1.72 billion in the Americas and A$682.9 million in Europe.

In Asia, it operates in Singapore, China, Japan and Malaysia, with Singapore as its regional headquarters. It has developed more than 1,000 projects in the region. It built and manages the Taipei 101 retail podium and Setia City Mall in Malaysia. It has been here for about 40 years, having developed the Insead Asia Campus, Infineon and others. It also has a range of managed funds. The firm bought Parkway Parade in 2000, then redeveloped and now manages it. For the Paya Lebar site, it plans to have about 968,750 sq ft of net lettable office area, 430,560 sq ft of retail area, and 440 residential units – all set to be ready in 2018. It has a 30 per cent stake; sovereign wealth fund Abu Dhabi Investment Authority holds the rest. They were awarded the site for $1.67 billion last month. Paya Lebar is in the early stages of rejuvenation, with the office space at Paya Lebar Square only about 10 per cent filled. But Mr Leaver is confident Lend Lease can transform the area. “What Lend Lease does well is, it has a vision for a location going through regeneration, and going in early before there has been a rewriting of that location. “In Paya Lebar, it’s still very early in its regeneration and it’s the right time for us to come in early and be the catalyst for a lot of that regeneration.” Land is set to be freed up when Paya Lebar Air Base moves, while the property also has good access to the East-West and Circle Lines. Mr Leaver expects to attract multinational corporations keen on sustainability and the project’s proximity to the Central Business District – about 10 minutes’ drive away – and the airport, about 15 to 20 minutes out. The project’s large floor plates will also provide a high-performance work space. Lend Lease is also keen to expand in its three other Asian markets. In Malaysia, it sees “significant growth” via the joint development of the 7ha TRX Lifestyle Quarter site with 1Malaysia Development, and the Setia City Mall’s second phase with SP Setia. As the largest owner and operator of senior living projects in Australia, it aims to do the same in China, possibly Shanghai. In Japan, it has been largely focused on the telecommunications industry, having built a number of telecommunications towers. “We are looking at opportunities in retail development there, possibly senior living. We also have a strong track record in the Olympics – we built the Athlete’s Village in Stratford for London’s 2012 Olympics, and infrastructure for the 2000 Olympics in Sydney and 1996 Olympics in Atlanta – and are looking to support the Japanese government for Tokyo 2020,” he said. http://news.asiaone.com/news/business/aussie-developer-has-big-plans-paya-lebar-site?page=0%2C1#sthash.2LBPTrQl.dpuf

Condo developers dangle discounts in down market

Lower prices have helped to entice buyers in a down market, going by sales at two recent property launches.

Developers have adjusted their expectations in a bid to gain some traction amid falling sales, in the wake of cooling measures and stringent financing rules.

Take Kingsford Waterbay, a 1,165-unit development in Upper Serangoon that sold 140 homes over the weekend.

The average sales price of $1,050 to $1,180 per sq ft (psf) was below an initial expected selling price of $1,200 psf, the project’s developer Kingsford Development told The Straits Times recently.

The weekend sales included that of a 1,949 sq ft semi-detached unit, which was sold for $2.14 million – or $1,097 psf – and a 1,625 sq ft strata terrace unit, which fetched $1.76 million, or $1,080 psf.

The firm said that most of the units sold were two-bedders, spanning 614 to 721 sq ft. Singaporean buyers were in the majority, comprising mostly young couples and upgraders, the firm added.

Kingsford Waterbay includes apartments, six strata terrace houses, two strata semi-detached houses, a childcare centre and six shops.

Meanwhile, GuocoLand’s 1,024-unit Sims Urban Oasis in Sims Drive sold 29 apartments over the weekend, bringing the sales tally to “more than 170 units” since sales began on Feb 14.

Property agents said that discounts of up to 19 per cent were offered over the Chinese New Year holiday. But that has now shrunk to 18 per cent.

GuocoLand said units were snapped up for between $1,295 and $1,595 psf.

Other upcoming launches this quarter include NorthPark Residences by Frasers Centrepoint and Botanique at Bartley by UOL Group.

http://business.asiaone.com/news/condo-developers-dangle-discounts-down-market#sthash.SOA63wx7.dpuf

Rezoning won’t change character of Geylang area

The move to exclude new residences in part of Geylang will not change the red-light area’s character, said the MP of the area, Mr Edwin Tong.

Instead, he expects more shops and restaurants to set up there. “That’s the sort of thing we’re looking at, making it more of a retail space,” he told The Straits Times.

The area, currently classified as a “residential/institution” zone, is bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang and is home to a mix of private properties, shophouses, places of worship, eateries, hotels and even brothels.

Last week, the Urban Redevelopment Authority (URA) announced that it will be rezoned to “commercial/institution”, which bars new residential projects in the area.

“This is to minimise the issues arising from incompatibility of uses and friction between residential and non-residential uses in the area,” said the URA.

It said it had received complaints from residents about noise, littering, traffic congestion and illegal parking “arising from the many activities in this neighbourhood”.

Since existing properties are not affected, the overall character of the neighbourhood may not change much, said Mr Tong. Most of the reaction he received to the rezoning news came from residents living near the affected area.

“The main questions are about what the new tenants will be,” Mr Tong said.

He has barely heard from any residents in the zone itself.

There are about 1,000 homes there, with another 300 or so being built.

Owner-occupiers are rare enough that, for instance, there are no grassroots volunteers living in that area.

“A lot of those apartments are rented out but the owners live nearby,” said Madam Annie Lim, 57, a member of the Neighbourhood Committee on the opposite side of Geylang Road.

Customer service manager Kang Ngee Wi, 41, lives at Wing Fong Court in Lorong 14. He doubts the rezoning will affect him, but wonders why it was necessary.

The location is good, amenities such as supermarkets are nearby, and new residents must surely expect unsavoury goings-on to come with the territory, he said. “In this type of area, what do you expect?”

Chef Ng Kiang Hui, 54, who also lives at Wing Fong Court, is similarly unfazed. Scuffles sometimes break out in the street, but only among foreign workers. “They only fight each other,” he said.

Engineering assistant Martin Loo, 55, has booked a unit at new development Le Regal but does not plan to live there when it is completed by 2016.

For him, the rezoning bodes well: “It should fetch a decent rental as it is easier to rent out any unit with more commercial activities near the precinct.”

– See more at: http://news.asiaone.com/news/singapore/rezoning-wont-change-character-geylang-area#sthash.Xg8lrlwP.dpuf

Fragrance Group selling an industrial building in Geylang

Property developer Fragrance Group is selling an industrial building in Geylang.

Its wholly-owned subsidiary, Fragrance Biz Space, wants around $115 million for the new seven-storey building at 110 Lorong 23 Geylang, close to Aljunied MRT station.

The block, which is nearing completion, has a 60-year leasehold tenure and sits on a 67,944 sq ft site with dual road frontages as it is at the junction of Sims Drive and Aljunied Road.

It has a total provisional strata floor area of 237,000 sq ft and is zoned for “Business 1” use, meaning that light and clean industry or warehouse uses are allowed.

The building also has recreational amenities on the roof, including a swimming pool, a tennis csourt and a barbecue area.

The temporary occupation permit is expected this quarter.

Property consultant Colliers International is the sales agent. Offers close on Feb 26.

Mr Tan Boon Leong, Colliers’ executive director of industrial services, said the relatively longer lease of 60 years makes it an attractive investment for institutional investors.

“This is because all industrial sites offered in the Government Land Sales programme have a much shorter leasehold tenure of 20 years or, at most, 30 years,” he added.

Other developments in the vicinity include the Atrix, Arcsphere, Aljunied Industrial Estate, Gemini@Sims, Shun Li Industrial Complex, LHK Building and Kallang Distripark.

Rezoning of Geylang by URA

The Urban Redevelopment Authority on Tuesday (Jan 13) announced it is proposing to rezone parts of Geylang, so as to better manage the area in question and “prevent spillover of disamenities to surrounding areas”.

URA said the proposed area is bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang, excluding the parcels of land zoned Road, the lots fronting Geylang Road and the sports field bounded by Talma Road and Lorong 12 Geylang. It plans to rezone this area from Residential/Institution to Commercial/Institution, according to its press release.

Explaining the decision, URA Group Director for Physical Planning Hwang Yu-Ning said in the proposal that Geylang is a “rich and colourful neighbourhood” interspersed with associations, clans, places of worship, shops, offices and residential uses. It is also a traditional red-light area, she noted.

“The various entertainment and eating outlets in the area give rise to activities of a certain colour and vibrancy,” Ms Hwang said. “With more new residential developments in the area, there has been an increasing spillover of disamenities and friction on the ground.

“In our assessment, the growth of new residential community in the area of Lorongs 4-22 Geylang needs to be re-balanced and moderated.”

If the rezoning gets the go-ahead, residential units will no longer be approved in this area. She added the new residential developments in the area, which have been approved will not be affected and can proceed to be built.

A Geylang resident Channel NewsAsia spoke to welcomed the rezoning proposal.

“All these are red light areas. And if they could take this away and put it into more commercial use, like running a legal business that would be fine. It’s good to have commercial properties around your estate so that it’s convenient for everybody to go shopping or to do things or have an office near your home,” he said.

The area’s Member of Parliament (MP) said it is useful not to have more residential developments in the area.

Said Mr Edwin Tong, MP, Moulmein-Kallang GRC: “There are not many residential units there anyway. And much of the area that is being rezoned is already largely commercial, with a good mix of clans and associations. I think it is also useful to not have further residential developments there in an area where traditionally there are not just commercial properties there but also more nightclubs and bars which probably don’t co-exist suitably with residential units. ”

The URA said members of public can submit their feedback, objection or representation to the proposal in writing to the Permanent Secretary, Ministry of National Development, 5 Maxwell Road, Singapore 069110, by Feb 11, 2015.

More information on this proposal can be found on the URA website.

http://www.channelnewsasia.com/news/singapore/ura-proposes-rezoning/1586882.html