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Thread: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

  1. #1081
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    next time enbloc the residential into commercial

  2. #1082
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]


  3. #1083
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    https://www.straitstimes.com/busines...easing-concept

    Guoco Midtown reveals concept. Based on its residential office tower location (if I view the model correctly), it is more aligned to South Beach albeit a more disadvantage view to the city versus SB. The stack facing East or Nicoll Highway direction is more desirable but it is very close to upcoming Shaw Tower. Not sure how aligned they can be with each other's design. This strategy is pretty sound IMHO since TQL will have 500 more units upcoming, there is no need to pack everything so densely together. This means Midtown pricing is very likely to align with SB and hence in the $3K+ psf region easily.

    For Duo, it means offices are closer to each other with underground linkage. This bodes well for rental play.

  4. #1084
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]


  5. #1085
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]


  6. #1086
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    Guoco Midtown will be another one to watch. Similar to Duo in many ways, though it's arguable that Guoco Midtown has the better location. The residential component was originally named Midtown Suite, but looks like has been renamed to Midtown Bay. Anyway it will be interesting to see what the pricing level is like. Duo launched at below $2,000 PSF with low floor units going for as low as $1,5xx PSF. But am not expecting Midtown Bay to be anywhere near there. Will likely be looking at closer to South Beach Residences pricing, near or over the $3K PSF mark. Especially since the developer for Midtown Bay is Guocoland, who are not exactly known for low prices. Witness their Wallich Residence for a start. It looks like there has been a delay in the launch though. Was in the news some time back, but till now nothing seen on the marketing front.

  7. #1087
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    Quote Originally Posted by Wimsey View Post
    Guoco Midtown will be another one to watch. Similar to Duo in many ways, though it's arguable that Guoco Midtown has the better location. The residential component was originally named Midtown Suite, but looks like has been renamed to Midtown Bay. Anyway it will be interesting to see what the pricing level is like. Duo launched at below $2,000 PSF with low floor units going for as low as $1,5xx PSF. But am not expecting Midtown Bay to be anywhere near there. Will likely be looking at closer to South Beach Residences pricing, near or over the $3K PSF mark. Especially since the developer for Midtown Bay is Guocoland, who are not exactly known for low prices. Witness their Wallich Residence for a start. It looks like there has been a delay in the launch though. Was in the news some time back, but till now nothing seen on the marketing front.
    First of all, GLL current and new designs all look *big yawn*. Especially for Wallich Residence, what a missed opportunity. Now Midtown or whatever they decide to call it, its another copy of it. At least South Beach did try something new.

    Being in a better location is subjective especially if you look at the estimated entry price which is very likely to be $3K psf or even above. Mere 100m away and it goes ~1K+ Psf more for Duo first owners like me, it begs the question, what are you really paying for? For a property agent, everything goes since its not coming out from their pocket. Investors are not dumb. Sure, trade war might drive some Chinese to hedge their yuan here and for those turning their kids away from US. Property here might get some tail wind for the rest of the year. See them buying it up and I am certainly not complaining since they will drive up prices in D7.

    Duo is just outside the gantry but command CBD prices today but certainly no beep-beep-light-gantry every time you go in and out of the development. Profit/loss is uncertain, ERP(cost) is not. Lets hope they do not extend this goalpost as URA masterplan say its a extended CBD in the future.

    2 cents,
    PropVestor

  8. #1088
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    I don't think retail is doing so well .. but hopefully the new owner can spice things up

    https://www.straitstimes.com/busines...j02dwSnx3EnLCo
    Last edited by ichigo55; 1st August 2019 at 09:00 AM. Reason: URL

  9. #1089
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    I reckon the Gaw folks are looking at the office returns since retail takes up a tiny portion. The deal has to include both.

    I was really hoping Capitaland will take up the stake but thats not the case. Was disappointed about the sponsor but not the price.
    It is within expectations at $1.6B at market for about 7-8 months. Given the current conditions, I think it's a fair deal at ~$2.6K psf or expected $12psf rental returns for Grade A.
    This is outside CBD nonetheless. Possibly the best performing one in Singapore for Grade A outside ERP gantry.

    Until and unless both TQL and GLL Midtown are completed, this 'mini-City Link' is like zombie land since there is no foot-fall and critical mass is currently missing.

  10. #1090
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    Default Re: Duo Residences,99LH, M+S Pte Ltd [Ophir-Rochor]

    After retail and office purchase, there goes the Andaz hotel too in quick succession. The interest in this micro location heats up further. Midtown Bay is transacting at beyond $3K psf for 1 bedders (with early bird discount). Those 2 bedders are not far below this rate.

    https://www.straitstimes.com/busines...r-475m-from-ms

    "This will mark the highest total price ever achieved for a standalone hotel transaction in Singapore, and the third highest in Asia this year, according to M+S."

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