reporter2
04-08-12, 02:40
http://www.businesstimes.com.sg/archive/friday/specials/property/southbank-soho-units-sale
Published August 02, 2012
Southbank SOHO units up for sale
By jasmine ng
SINGXPRESS Land has put up for sale some 34,740 square feet of space at Southbank SOHO.
Marketing agent CBRE said this works out to an approximately 56 per cent stake in share value in the SOHO block.
Southbank, a home- cum-office concept condo, comprises a 40-storey residential block and a 20-storey SOHO block with retail shops on the first floor.
The SOHO block consists of 29 duplex loft SOHOs of between 883 sq ft and 1,593 sq ft each; three single-level SOHOs of around 463 sq ft to 603 sq ft; and a retail shop of about 129 sq ft.
Based on the asking price of $63 million, this represents $1,812 per square foot over strata area.
"With the current strong interest in strata-titled commercial properties, we expect the units to attract good interest from property funds, private equity, family offices, and high net worth individuals both local and overseas, who are looking for good assets like this one for potential rental and capital appreciation," said CBRE's senior manager of investment properties, Sammi Lim.
Southbank is located along the junction of North Bridge Road and Crawford Street and is within walking distance to Lavender MRT Station.
Nearby landmarks include Bugis Junction, the future South Beach Integrated Development, Suntec City, Kallang Riverside Park, and the future Kallang iPark.
SOHO owners may enjoy a range of facilities including an infinity lap pool with waterfront views along Kallang Basin/Kallang River, a gymnasium, barbecue stations, a function room, and a courtyard garden.
As the SOHO block is zoned commercial, it has an added advantage as buyers are not subject to additional buyer's stamp duty or seller's stamp duty, said CBRE.
Expressions of interest close on Aug 31 at 3pm.
Published August 02, 2012
Southbank SOHO units up for sale
By jasmine ng
SINGXPRESS Land has put up for sale some 34,740 square feet of space at Southbank SOHO.
Marketing agent CBRE said this works out to an approximately 56 per cent stake in share value in the SOHO block.
Southbank, a home- cum-office concept condo, comprises a 40-storey residential block and a 20-storey SOHO block with retail shops on the first floor.
The SOHO block consists of 29 duplex loft SOHOs of between 883 sq ft and 1,593 sq ft each; three single-level SOHOs of around 463 sq ft to 603 sq ft; and a retail shop of about 129 sq ft.
Based on the asking price of $63 million, this represents $1,812 per square foot over strata area.
"With the current strong interest in strata-titled commercial properties, we expect the units to attract good interest from property funds, private equity, family offices, and high net worth individuals both local and overseas, who are looking for good assets like this one for potential rental and capital appreciation," said CBRE's senior manager of investment properties, Sammi Lim.
Southbank is located along the junction of North Bridge Road and Crawford Street and is within walking distance to Lavender MRT Station.
Nearby landmarks include Bugis Junction, the future South Beach Integrated Development, Suntec City, Kallang Riverside Park, and the future Kallang iPark.
SOHO owners may enjoy a range of facilities including an infinity lap pool with waterfront views along Kallang Basin/Kallang River, a gymnasium, barbecue stations, a function room, and a courtyard garden.
As the SOHO block is zoned commercial, it has an added advantage as buyers are not subject to additional buyer's stamp duty or seller's stamp duty, said CBRE.
Expressions of interest close on Aug 31 at 3pm.