This Blog is an informational place which give property news reviews market trends and opinions regarding the real estates of Singapore. 23/7/2007
obtain : The Strait Times. 29 August 2007 THE gift for a 99-year-old office plan on Anson Road closed yesterday with local-based Firstoffice lodging the highest bid of $237.2 million. It bid Mapletree Lighthouse Trust trustee VivoCity which offered $201.7 million and Winglow Investment which bid $159.8 million. The Firstoffice determine works out to $941 per sq ft per plot ratio (psf ppr) which is below the $1,021 psf ppr a Mapletree Investments unit paid for a larger plan nearby last month. Mapletree also had to defeat four compete bidders for that plan; only three bidders contested the latest gift. But industry experts say this is not an indication that the property go is starting to suffer its fizz. For one the earlier place is 39,733 sq ft compared with the latest plan's 27,281 sq ft. Property consultancy ennoble Frank's head of research and consultancy. Mr Nicholas Mak said the two locations also differed in their appeal.'The latest place is triangular in shape and one side faces a carpark and a large fag pipe from International Plaza.'change surface if the owners decide to create higher the occupants would still end up looking into the offices of International Plaza just 20m away.'CBRE Research executive director Li Hiaw Ho said: 'Based on the highest bid submitted the break-even be for the site is likely to be around $1,700 to $1,800 psf ppr.'This would provide the successful bidder with a stabilised furnish of around 4.5 per cent to 5 per cent based on a gross contract of about $9 to $10 psf each month.'The site was launched for gift by the Urban Redevelopment Authority (URA) on July 4. URA said that a decision on the allocate of the tender ordain be made once the bids undergo been evaluated. It ordain be announced later. Firstoffice is owned by Homerun 28 which is based in Mauritius. The Singapore firm's directors consider Australian Andrew Heithersay who lives in Hong Kong. Singapore permanent resident Ian Mackie and Singaporean Woo May Poh.
Internet's Fastest,Easiest & Laziest Plug-And-Play System For Making Immediate Money Online 24/7
Forex Groups - Tips on Trading
Related article:
http://propertyhighlights.blogspot.com/2007/08/tender-for-anson-road-site-closed.html
comments | Add comment | Report as Spam
|