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Thread: Promenade @ Pelikat (Former Pelikat mansion)

  1. #151
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    i was one of the interested investors for a commercial unit here..

    but after going down to their showflat and carefully examining the building model, the commercial unit plan seems to be too vague for me.

    If developer tied down some anchor tenant before hand and properly plan the commercial unit mix, then probably stand a better chance of prospering.

    But as things are, developer is very hand off ish abt the commercial unit plan. skali turns out that all the units are either mamashop or lighting stores.. haha

  2. #152
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    Quote Originally Posted by price
    they say similar to greenwich?
    Is greenwich v happening? Have u actually been there to look?

  3. #153
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    Quote Originally Posted by Kelonguni
    Wow. Thanks for the opinions on this for consideration.

    The B2 shops may be good for vehicle maintenance / grooming etc, where the carparks are. B1 and level 1 are really anybody's guesses. IMO, they should have considered what was lacking in the vicinity and created a niche based on that. Maybe like educational and enrichment hub (taking advantage of the landed, attas area) for a UE-square kind of building - that kind of thing seems lacking in Northeast area. Or vehicle accessories building like Sunshine Plaza, sports apparel and shoes like Queensway shopping centre.

    Leaving it open-ended leaves too many questions - might turn out like current Bukit Timah / Beauty World shopping centre at worst.

    Yah need some kind of anchor tenant like NTUC, Sheng Siong, Shop n Save at least.

    The shop owners should sit down and discuss what they want this to be. Lots of potential, but there are also possibilities to be untapped potential at worst.

    Actually also depends on facing. Some facing might do well, hence the difference in prices between similar sized units is quite marked.

    Maybe the developer has already recouped and earned on the residential?
    Edu and tuition hub alredy at heartland mall at kovan mrt somemore. Xtension concept small trendy shops also got in side wing of it. What else u want here? Massage parlors to take over the Highland Road biz?? Wakakakaka

    Dont get me wrong. The resi definitely a good buy. AS LONG not encumbranced by the problems and lacking of the commercial part in future.... Otw kena dragged into the maintenance etc never ending shiit hole.....

  4. #154
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    Quote Originally Posted by hyenergix
    If SS also fears to venture, it prob is too dangerous.
    Maybe psf wise is too high for SS to commit. They need large area for business, probably not FH land, too expensive for them.

    Nonetheless since FH mixed I think the value certainly can be sustained. And maintenance for the moment seems fair for 1-bedder at below $200. But what to sell for comm units? A million-dollar question.

    Just for curiosity, can residential units in a mixed development building be used for business as well? PSF much lower!

  5. #155
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    Quote Originally Posted by Kelonguni
    Wow. Thanks for the opinions on this for consideration.

    The B2 shops may be good for vehicle maintenance / grooming etc, where the carparks are. B1 and level 1 are really anybody's guesses. IMO, they should have considered what was lacking in the vicinity and created a niche based on that. Maybe like educational and enrichment hub (taking advantage of the landed, attas area) for a UE-square kind of building - that kind of thing seems lacking in Northeast area. Or vehicle accessories building like Sunshine Plaza, sports apparel and shoes like Queensway shopping centre.

    Leaving it open-ended leaves too many questions - might turn out like current Bukit Timah / Beauty World shopping centre at worst.

    Yah need some kind of anchor tenant like NTUC, Sheng Siong, Shop n Save at least.

    The shop owners should sit down and discuss what they want this to be. Lots of potential, but there are also possibilities to be untapped potential at worst.

    Actually also depends on facing. Some facing might do well, hence the difference in prices between similar sized units is quite marked.

    Maybe the developer has already recouped and earned on the residential?
    if i was buying the residential units, i'd have waited till now that Shengsiong pulling out before making a decision.

    anyway the shops are all too small to fit any vehicle technician shops?

  6. #156
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    Quote Originally Posted by price
    if i was buying the residential units, i'd have waited till now that Shengsiong pulling out before making a decision.

    anyway the shops are all too small to fit any vehicle technician shops?
    I think he meant car wash/polish

    Even so, driving into that cul de sac is no joy...

  7. #157
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    Quote Originally Posted by carbuncle
    Is greenwich v happening? Have u actually been there to look?
    never been there leh.. drive there waste fuel

  8. #158
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    Quote Originally Posted by Kelonguni
    Maybe psf wise is too high for SS to commit. They need large area for business, probably not FH land, too expensive for them.

    Nonetheless since FH mixed I think the value certainly can be sustained. And maintenance for the moment seems fair for 1-bedder at below $200. But what to sell for comm units? A million-dollar question.

    Just for curiosity, can residential units in a mixed development building be used for business as well? PSF much lower!
    Maintenance fees are low because no security, no BBQ pits, no facilities. Thats what the agents told me. Only a puny little pool, a gym size of a toilet, and a carpark lot. The agents were saying if u want the maintenance fees to go even lower u can give up on the single carpark lot allocated to u!

  9. #159
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    Didn't expect that SS surper market is out after I heard that deposit put already (think that it is because the
    price or other terms not agreed). Dispointing news.

    Besides anchor tenant, the human traffic must be improved. One obvious solution is to construct the link to hougang avenue 1, at the boundary of the hougang avenue 1 park. In the best scenario, URA already had this consideration when it approved developer's building plan - gov is also as eager to add value to their land.

    Otherwise, promenade owners (and althergeth with others from nearby private condo/houses) will have to petetion gov for it. Think that majority of them wish to change the current non-active status of the area, for adding value as well as their own convenience.

  10. #160
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    SS seldom located in attas area, usually HDB...

    http://www.shengsiong.com.sg/pages/Store-Locator.html

    Expect Cold Storage to be more keen in such area.

  11. #161
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    So sad no supermarket now. It would have been so convenient to have one close by... can pop in anytime to buy fresh fruits and tidbits etc.

  12. #162
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    Quote Originally Posted by chrisop
    So sad no supermarket now. It would have been so convenient to have one close by... can pop in anytime to buy fresh fruits and tidbits etc.
    Pat pat... Anyway, not a small development by any means. Something will grow out of it. Just how it may grow makes people ponder. Maybe some specialist clinics (dermatology), comics shops, Sakae Sushi, mid-end Jap/Korea/fusion restaurants will be good, although may not be not unique enough to draw large crowds. Singaporeans love to eat so if the food is good (good buffet ones), sure got subscribers. Confirm got tidbits shops, fruits can get from markets nearby. Just too many possibilities but have to wait till it's opened to get an idea.

    Residential prices still very appealing based on current prices. Swimming pool and gym not a concern for me actually, prefer jogging longer distances (but actually also rarely muster enough morale to exercise anyway). Most likely hope not to drive when retire as well, can "sell" carpark lot. So quite ideal for me when retire haha... I only need to lie on bed and use computer / handphone. So small space is great!

    Time to have more discounts on the prices!

  13. #163
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    Quote Originally Posted by Kelonguni
    Pat pat... Anyway, not a small development by any means. Something will grow out of it. Just how it may grow makes people ponder. Maybe some specialist clinics (dermatology), comics shops, Sakae Sushi, mid-end Jap/Korea/fusion restaurants will be good, although may not be not unique enough to draw large crowds. Singaporeans love to eat so if the food is good (good buffet ones), sure got subscribers. Confirm got tidbits shops, fruits can get from markets nearby. Just too many possibilities but have to wait till it's opened to get an idea.

    Residential prices still very appealing based on current prices. Swimming pool and gym not a concern for me actually, prefer jogging longer distances (but actually also rarely muster enough morale to exercise anyway). Most likely hope not to drive when retire as well, can "sell" carpark lot. So quite ideal for me when retire haha... I only need to lie on bed and use computer / handphone. So small space is great!

    Time to have more discounts on the prices!
    Thanks Kelonguni! Let's hope for better news. Hope you can get your choice unit at a good price with more discounts.

  14. #164
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    Quote Originally Posted by Kelonguni
    Pat pat... Anyway, not a small development by any means. Something will grow out of it. Just how it may grow makes people ponder. Maybe some specialist clinics (dermatology), comics shops, Sakae Sushi, mid-end Jap/Korea/fusion restaurants will be good, although may not be not unique enough to draw large crowds. Singaporeans love to eat so if the food is good (good buffet ones), sure got subscribers. Confirm got tidbits shops, fruits can get from markets nearby. Just too many possibilities but have to wait till it's opened to get an idea.

    Residential prices still very appealing based on current prices. Swimming pool and gym not a concern for me actually, prefer jogging longer distances (but actually also rarely muster enough morale to exercise anyway). Most likely hope not to drive when retire as well, can "sell" carpark lot. So quite ideal for me when retire haha... I only need to lie on bed and use computer / handphone. So small space is great!

    Time to have more discounts on the prices!
    There is a Park connector just infront of PM. A park just beside too. Good for your jog.

  15. #165
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    » Strata-shop sales last year a
    record $661m
    Straits Times: Sat, May 12
    THE strata-shop segment is
    roaring.
    Brisk sales totalled a record $661
    million last year, partly driven by
    residential cooling measures that
    have diverted funds to non-
    residential properties.
    Analysis of caveats lodged with
    the Urban Redevelopment
    Authority by R'ST Research
    found a total of 615 strata-shop
    units transacted last year - just
    under the record 632 strata
    shops totalling $656 million sold
    in 2010.
    Sim Lim Square topped the
    charts with 33 strata-shop units
    changing hands, followed by
    Icon @ Changi with 29 units and
    Space @ Kovan with 28 deals
    inked.
    R'ST Research director Ong Kah
    Seng said that a record number
    of 161 strata shops were sold on
    the primary market due to a
    slew of attractive new launches.
    The robust demand also comes
    on the back of a dearth of new
    strata-shop projects in recent
    years, with many existing strata
    shops currently in older malls
    such as Peninsular Plaza,
    People's Park Centre and Lucky
    Plaza.
    The ample supply of newer
    choices on the market has
    attracted more interest, leading
    to the resale market taking a hit
    with volumes slowing by 9 per
    cent last year, compared to
    2010.
    Mr Ong noted that the
    popularity of strata shops is
    partly due to the slew of cooling
    measures in the housing market,
    which introduced tighter
    financing rules and additional
    stamp duties.
    Investors were prompted to look
    towards alternative real estate
    investments to park their cash
    instead, in the light of rock-
    bottom bank interest rates.
    '(Strata shops) remain limited in
    supply, suggesting there may be
    possible long-term upside, or
    alternatively, potential for en
    bloc redevelopment in selected
    ageing strata-commercial
    properties,' Mr Ong added.
    'Rising business costs have also
    led to some retailers buying
    strata shops to have more
    certainty in running costs.'
    Higher demand for strata-shop
    units continued in the first three
    months of the year, with 107
    units sold by developers - the
    highest level in almost 10 years.
    This could be due to prices in
    the strata-industrial segment
    rocketing, leading to investors
    turning their eye to the strata-
    shop and strata-office segments
    instead, Mr Ong said.
    However, the smaller size and
    more affordable price of shop
    space has seen the sector gain
    more in popularity compared to
    office space.
    But he cited as a key concern
    the lack of overall control in the
    running of strata-titled malls,
    compared to a single- owner
    mall where concerted effort is
    made to manage the tenant mix.
    'As strata-shop users have the
    freedom to operate their
    business according to their liking,
    the overall desired vibrancy of
    the retail development cluster
    may not be achieved... There
    may be duplications and
    competition in services and retail
    offerings within the same
    development,' he noted.
    Still, although there are concerns
    of speculation in the strata-shop
    segment, Mr Ong emphasised
    that these are not as pressing as
    worries of speculative froth in
    the strata-industrial market and
    are unlikely to trigger cooling
    measures.
    This is because high industrial
    property prices have a trickle-
    down impact on the business
    costs of small and medium- sized
    enterprises.
    '(On the other hand), serious
    retailers generally have the
    option of being located in a
    single-owner mall, which is also
    likely to be better conceptualised
    than a strata-shop ownership
    development.'
    He added that the prospects for
    new strata shops remain positive,
    though only if speculative activity
    is kept in check or moderated.
    For buyers of older strata shops,
    however, the main concern is for
    the upkeep of the ageing
    property.
    While some of these shops may
    still offer niche services, strata-
    titled malls might have already
    lost their relevance with modern
    shopping in Singapore's fast-
    changing retail landscape.
    [email protected]
    Source: The Straits Times ©
    Singapore Press Holdings Ltd.

  16. #166
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    Quote Originally Posted by carbuncle
    » Strata-shop sales last year a
    record $661m
    Straits Times: Sat, May 12
    THE strata-shop segment is
    roaring.
    Brisk sales totalled a record $661
    million last year, partly driven by
    residential cooling measures that
    have diverted funds to non-
    residential properties.
    Analysis of caveats lodged with
    the Urban Redevelopment
    Authority by R'ST Research
    found a total of 615 strata-shop
    units transacted last year - just
    under the record 632 strata
    shops totalling $656 million sold
    in 2010.
    Sim Lim Square topped the
    charts with 33 strata-shop units
    changing hands, followed by
    Icon @ Changi with 29 units and
    Space @ Kovan with 28 deals
    inked.
    R'ST Research director Ong Kah
    Seng said that a record number
    of 161 strata shops were sold on
    the primary market due to a
    slew of attractive new launches.
    The robust demand also comes
    on the back of a dearth of new
    strata-shop projects in recent
    years, with many existing strata
    shops currently in older malls
    such as Peninsular Plaza,
    People's Park Centre and Lucky
    Plaza.
    The ample supply of newer
    choices on the market has
    attracted more interest, leading
    to the resale market taking a hit
    with volumes slowing by 9 per
    cent last year, compared to
    2010.
    Mr Ong noted that the
    popularity of strata shops is
    partly due to the slew of cooling
    measures in the housing market,
    which introduced tighter
    financing rules and additional
    stamp duties.
    Investors were prompted to look
    towards alternative real estate
    investments to park their cash
    instead, in the light of rock-
    bottom bank interest rates.
    '(Strata shops) remain limited in
    supply, suggesting there may be
    possible long-term upside, or
    alternatively, potential for en
    bloc redevelopment in selected
    ageing strata-commercial
    properties,' Mr Ong added.
    'Rising business costs have also
    led to some retailers buying
    strata shops to have more
    certainty in running costs.'
    Higher demand for strata-shop
    units continued in the first three
    months of the year, with 107
    units sold by developers - the
    highest level in almost 10 years.
    This could be due to prices in
    the strata-industrial segment
    rocketing, leading to investors
    turning their eye to the strata-
    shop and strata-office segments
    instead, Mr Ong said.
    However, the smaller size and
    more affordable price of shop
    space has seen the sector gain
    more in popularity compared to
    office space.
    But he cited as a key concern
    the lack of overall control in the
    running of strata-titled malls,
    compared to a single- owner
    mall where concerted effort is
    made to manage the tenant mix.
    'As strata-shop users have the
    freedom to operate their
    business according to their liking,
    the overall desired vibrancy of
    the retail development cluster
    may not be achieved... There
    may be duplications and
    competition in services and retail
    offerings within the same
    development,' he noted.
    Still, although there are concerns
    of speculation in the strata-shop
    segment, Mr Ong emphasised
    that these are not as pressing as
    worries of speculative froth in
    the strata-industrial market and
    are unlikely to trigger cooling
    measures.
    This is because high industrial
    property prices have a trickle-
    down impact on the business
    costs of small and medium- sized
    enterprises.
    '(On the other hand), serious
    retailers generally have the
    option of being located in a
    single-owner mall, which is also
    likely to be better conceptualised
    than a strata-shop ownership
    development.'
    He added that the prospects for
    new strata shops remain positive,
    though only if speculative activity
    is kept in check or moderated.
    For buyers of older strata shops,
    however, the main concern is for
    the upkeep of the ageing
    property.
    While some of these shops may
    still offer niche services, strata-
    titled malls might have already
    lost their relevance with modern
    shopping in Singapore's fast-
    changing retail landscape.
    [email protected]
    Source: The Straits Times ©
    Singapore Press Holdings Ltd.
    Great article with many good points raised, especially the one about single owner vs strata-titled malls and vibrancy. Nature of businesses are changing much. Not easy to run many types of sustainable businesses in SG. So much change in the retail landscape over the last 30 years. Internet and large retail chains influencing as well. Unless have very good idea - actually I believe many ideas can survive and earn, but really prosper not easy.

  17. #167
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    Quote Originally Posted by chrisop
    Thanks Kelonguni! Let's hope for better news. Hope you can get your choice unit at a good price with more discounts.
    Thanks Chrisop, newspaper says from 547K, the agent says 580K +-, still quite discrepant.

  18. #168
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    Quote Originally Posted by Montaigne
    There is a Park connector just infront of PM. A park just beside too. Good for your jog.
    Thanks Montaigne, walking/hiking around landed property also quite nice.

  19. #169
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    Quote Originally Posted by Kelonguni
    Great article with many good points raised, especially the one about single owner vs strata-titled malls and vibrancy. Nature of businesses are changing much. Not easy to run many types of sustainable businesses in SG. So much change in the retail landscape over the last 30 years. Internet and large retail chains influencing as well. Unless have very good idea - actually I believe many ideas can survive and earn, but really prosper not easy.
    Just wanna bring you guys attention to the part on strata titled mall development not easy to manage...

  20. #170
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    Quote Originally Posted by Kelonguni
    Thanks Chrisop, newspaper says from 547K, the agent says 580K +-, still quite discrepant.
    Newspaper one should be the lowest floor worst facing... Or face substation or rubbish chute. This is called Marketing.

  21. #171
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    Quote Originally Posted by carbuncle
    Just wanna bring you guys attention to the part on strata titled mall development not easy to manage...
    I still think this project gone case. no more super market, became a pure 270 mini shops mall.

  22. #172
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    Location is decent for residential. Developer got greedy to sell shops because psf is higher. I think buyers of shops migjt b in trouble when it TOP with so many tiny shops competing for tenants n customers.

  23. #173
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    Quote Originally Posted by hyenergix
    Location is decent for residential. Developer got greedy to sell shops because psf is higher. I think buyers of shops migjt b in trouble when it TOP with so many tiny shops competing for tenants n customers.
    though price is ok for residential, the entire facade is destroyed

  24. #174
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    Hehe somehow I'm not at all worried about being in trouble just because there's no supermarket. Not depending on supermarket to bring in the crowds to my shop. Don't know about other business.

  25. #175
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    It's definitely good to have a supermarket nearby for our convenience. But I don't think it's a make or break for any mall. Last time ten mile junction has a supermarket but so what? Also no one.

  26. #176
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    Quote Originally Posted by chrisop
    Hehe somehow I'm not at all worried about being in trouble just because there's no supermarket. Not depending on supermarket to bring in the crowds to my shop. Don't know about other business.
    I know what shop you opening liao. Singapore Pools. Huat ah!!!!!

  27. #177
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    Quote Originally Posted by carbuncle
    I know what shop you opening liao. Singapore Pools. Huat ah!!!!!
    i heard to franchise u need 500k

  28. #178
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    Quote Originally Posted by price
    i heard to franchise u need 500k
    He sound rich and confident. Plus small shop more than enough for that.

  29. #179
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    Quote Originally Posted by carbuncle
    I know what shop you opening liao. Singapore Pools. Huat ah!!!!!
    Hahahahaha! That's a good one! Huat ar!

  30. #180
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    Quote Originally Posted by chrisop
    Hahahahaha! That's a good one! Huat ar!
    all the best chrisop! u should open 1 near palette! many forum ppl are discussing about 4D there.

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