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Thread: Nine shop units in Holland Road Shopping Centre up for sale

  1. #1

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    Default Nine shop units in Holland Road Shopping Centre up for sale

    Nine shop units in Holland Road Shopping Centre up for sale

    They're being sold with a Henderson industrial unit either collectively or piecemeal

    Jul 8, 2016

    NINE units of Holland Road Shopping Centre and one unit of 211 Henderson, an industrial building, are up for sale, either collectively at a guide price of just over S$24 million or on a piecemeal basis. All of them are freehold units and are being sold with vacant possession.

    They are owned by two companies controlled by the Lim family that used to operate Lim's Arts and Living, out of eight of the Holland Road Shopping Centre units. All nine shop units are on the second level.

    Lim's Arts and Living, which used to sell mainly furniture and furnishing goods, closed about a year ago. The sale of the 10 units is said to have arisen from a resolution of differences within the family.

    CBRE is the sole marketing agent for the public tender exercise, which will close on Aug 23.

    The 211 Henderson industrial unit, which is on the second level, has a guide price of S$3.23 million or S$650 per square foot based on its 4,962 sq ft strata area. It is ideal for light industrial use, with activities such as printing, photocopying, photographic film processing, packing and storage, commercial laundry, assembly and disassembly, said Sammi Lim, CBRE director of investment properties.

    Over at Holland Road Shopping Centre, which is next to the Holland Village MRT Station, the units range from around 237 sq ft to 732 sq ft. Their guide prices are S$1.09 million to S$4.17 million - adding up to S$20.85 million, which works out to an average price of S$5,085 psf based the total strata area of 4,100 sq ft.

    Ms Lim said: "The units will appeal strongly to end-users who have been on the lookout for shops to purchase and operate. For investors, the freehold status and potential yield return would be key attractions."

    The landmark development in Holland Village has well-known names such as Cold Storage and United Overseas Bank that have been operating in the building for years.

    Said Ms Lim: "Assets in the Holland Village location are always very tightly held and it is extremely rare for any to be available for sale. Widely regarded as a successful enclave, the purchaser is expected to benefit greatly from the area's fast evolving development and continued rejuvenation."

  2. #2

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    Default Treasure Crest EC in Sengkang oversubscribed

    Treasure Crest EC in Sengkang oversubscribed

    Jul 8, 2016

    Marissa Lee

    The Treasure Crest executive condominium has received 800 e-applications for its 504 available units, making the development about 60 per cent oversubscribed just six days after its launch, developer Sim Lian Group said.

    A total of 3,000 people had visited the Treasure Crest sales gallery since e-applications started last week. Applications close on Sunday.

    Balloting and booking for the 99-year leasehold development will take place on July 16.

    Treasure Crest, which is in Sengkang New Town, comprises 84 three-bedroom units, 364 three-bedroom premium units and 56 four-bedders spread across eight blocks of 15 storeys each.

    Units are priced between $735 and $755 psf on average, and a more detailed price schedule will be released next week, Sim Lian said.

    So far, the three-bedroom premium units, which range in size from 1,076 sq ft to 1,249 sq ft, and the four-bedroom homes, which average 1,345 sq ft, have been the more popular options, Sim Lian said.

    The smaller three-bedroom units average 958 sq ft.

    Nearly 48 per cent of the e-applicants are first-time buyers, while the rest are HDB upgraders.

    Sim Lian executive director Kuik Sing Beng said: "We are heartened by the overwhelming response thus far. This affirms our observation that Singaporean families value the spacious layout of our efficiently designed units, along with its competitive pricing strategy and ideal location which provides great accessibility and close proximity to reputable schools."

    Treasure Crest is scheduled to receive its temporary occupation permit by 2019. The project is within walking distance of Sengkang MRT station and bus interchange.

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