Leedon Green by MCL Land Yanlord

CDL Hospitality Trusts (CDLHT) has announced plans to market Novotel Singapore Clarke Quay (NCQ) for $375.9 million, as part of this transaction to redevelop the Liang Court website and acquire the brand new resort under a forward purchase agreement, for $475 million or 110% of their development cost, whichever is lower.

More details about the developer of Leedon Green by MCL Land Yanlord.

Located at River Valley Road, NCQ is going to be offered to a consortium comprising City Developments Limited (CDL), CapitaLand and Ascott Residence Trust, which plans to redevelop the website into an integrated improvement, together with the new resort being a part of it.

Within an SGX filing, CDLHT also suggested to acquire W Singapore hotel in Sentosa Cove for about $324 million.

It plans to finance its acquisition of W Hotel with internal funds, including proceeds from the divestment of NCQ and/or debt financing.

CDLHT considered that the proposed transactions will enable it”to further penetrate the lifestyle resort market at several tiers or cost points in Singapore amid increasing global demand for lifestyle resorts with powerful identities and story-telling potential”.

This includes as the brand new resort, that will fall beneath Marriott International’s Moxy brand, is intended to appeal to the next-generation travellers, although the W Hotel will cater to the luxury lifestyle market.

“Throughout the W Hotel and the brand new resort, CDLHT may also gain from continued long-term vulnerability to Singapore, that’s the 5th most visited town in the world and attracts both leisure and business travel, given its status as an international financial center and famous MICE destination,” said CDLHT’s manager.

CDLHT possesses six hotels with 2,718 rooms at Singapore, that are valued at over $1.6 billion. When the planned transactions are finished, CDLHT will have seven resorts with 3,000 rooms in Singapore.

Shophouses along Bali Lane, Duxton Road available to be purchased by delicate

The manual price of $9.8 million to the shophouses at 13, 14 Bali Lane works out about $3,797 psf (per square foot).

Speaking to The Business Times on Wednesday, PropNex Realty’s associate manager Loyalle Chin said 13,14 Bali Lane is selling at such a”huge discount” because”the proprietor wants to cash out fast”, to redeploy capital for personal, non-commercial use.

Check more details of the Leedon Green Holland review here.

It’s zoned”commercial”, and inside a three-minute walk to Bugis MRT interchange on the East-West and Downtown lines. Currently partially tenanted, it’s suitable for investment, own retail or office usage, PropNex said.

New commercial developments in the area include the 770,000 sq feet, 30-storey Grade A office tower at Guoco Midtown, as well as the newest Shaw Towers development.

Added Mr Chin:”Bugis is becoming increasingly attractive to a growing pool of multinational companies based in Grade A office improvements DUO Tower, Bugis Junction Towers and also the coming Guoco Midtown… as well as to the millennials who appreciate the diversity in Bali Lane and Haji Lane stuffed with live local music, java places and attractive F&B (food and beverage) establishments.

“It has become a’hip, culturally-rich and vibrant commercial district’.”

Separately, the 4.9 million manual cost for 42 Duxton Road translates to about $2,408 psf of flooring area, PropNex said.

In the area, 37 Duxton Road was transacted earlier in January this year at $5.65 million, or $2,897 psf.

It has a land size of 1,118 sq feet, with a total floor area of about 2,035 sq ft.

With retail to the first storey and office on the next, the Duxton shophouse is tenanted into Kokuyo, a furniture and space layout company with global offices in China, Thailand, Hong Kong, Malaysia and Singapore. The company has occupied the premises since 2011, and is seeking to stay, BT understands.

According to PropNex, the monthly rental of $13,500 signifies a rental return of 3.3 percent. Said Mr Chin:”With rental yields generally compressed between 1.8 percent and 2.5 percent, this is certainly one of the greatest rental returns for a shophouse from the central business district (CBD).”

Duxton is surrounded by three MRT stations nearby, such as Outram Park interchange, Tanjong Pagar MRT, and also the approaching Maxwell MRT station, slated to start by 2021.

In a statement on Wednesday, PropNex added that Singapore’s real estate today supplies the ideal investment prospects at the Asia-Pacific for 2020, after a report from the Urban Land Institute and PwC.

Said Mr Chin:”With the influx of ultra high net-worth individuals and institutional capital from Hong Kong and mainland Chinese, our market forecast for heritage shophouses and commercial assets from town fringe region such as District 1 (CBD) and District 7 (Bugis) will continue to grow by at least 5-10 percent for the subsequent 12 months”

Read more Freehold landed Homes Along Upper Changi Road relaunched Available

A two-storey detached home on Faber Drive at the Faber Hills landed estate is up for mortgagee sale by private treaty. This is actually the first time that the freehold land is being supplied at a mortgagee sale, and it has just been on the market since Oct 7 this year.

The 42-year-old home sits on a 9,052 sq foot plot and has a built-up area of about 5,000 sq ft. There are four bedrooms in the home and each of them has an en suite bathroom.

The land has a direct price of $8.5 million, which translates to $939 psf in the land area.

The home is located at a two-storey bungalow area and loves dual-road frontage facing Faber Drive and Jalan Lempeng. In addition, this Website is reverse Nan Hua Primary School and about 500 metres to Clementi Town Primary School and Clementi Town Secondary School.

The latest transaction from the area was to get a bungalow at 6 Faber Park, that was sold for about $10.2 million ($1,259 psf) in January this year. Another bungalow at 48 Faber Drive brought $8.2 million ($966 psf) as it was sold in December 2017, and still another bungalow at 65 Faber Park travelled for about $ 8.6 million ($819 psf) at June 2017.

According to Bruce Lye, managing partner of Singapore Realtors Inc (SRI) and the only real sales agent, the home for sale Requires an”old charm” but renovation work will be necessary to spruce it up. “This house will be ideal for reconstruction. Owing to the dual frontage, it will also be a fantastic masterpiece for individuals to admire if the owner commissions an award-winning architect to conceptualise a masterpiece,” he says.

The present house isn’t built to the maximum allowable plot ratio on account of the elevation of the land. Therefore, the new purchaser has the choice to sub-divide the storyline and assemble a pair of two 1/2-storey bungalows, or divides the property to a single grand bungalow, says Lye.

“The Faber Hills Estate is largely occupied by company owners and industrialists that have companies towards the west of Singapore. This allows them to be near their factories and factories, while also being a 10-minute drive into the city center via the Ayer Rajah Expressway,” he says.

SRI says as the land appeared on the market, there have been 16 enquiries and many viewings because of this. At least two offers have been made for your home, but they did not meet the reserve price.

“Landed home neighbourhoods such as the Sunset Estate and Faber Hills Estate have always been hidden jewels. Many landed-home buyers originally started house-hunting at Districts 10 and 11, however when they are introduced into the Sunset Estate and Faber Hills Estate, the location comes as a wonderful surprise for them,” says Lye.

The website is also near the coming Jurong Lake District, a new business district in the West. The Faber Hills Estate is conveniently located to leverage the brand new precinct, and also the purchaser may potentially sell the land to a developer when land costs appreciate, Lye adds.