August | 2009 | Lush Dream Home

Fragrance Group picks up freehold site at Changi Road for $33.56m

Melodies Limited, controlled by the Lee family of Hotel Royal, is selling a 20-storey freehold apartment block in Guillemard Road which it developed 11 years ago.

The price is about $70 million, reflecting $783 per sq ft based on existing strata area of 89,362 sq ft.

Colliers International, which is marketing the property, Cassia View, through an expression-of-interest exercise, says that the buyer could either spruce up the 72 units and sell them individually or tear down the property and redevelop it.

Cassia View is understood to have utilised the maximum gross floor area (GFA) allowed for the site based on a 2.8 plot ratio under Master Plan Continue reading →

Prepared industrial land allocation falls in Q2

Posted on 13 Aug 2009 | Comments Off

Negative 32.2 ha compares with net allocation of plus 14ha in Q1

Net allocation of prepared industrial land went into negative territory in the second quarter for JTC Corporation, as the downturn continued to take a toll.

JTC’s Q2 facilities report shows net allocation was negative 32.2 hectares, compared with a net allocation of plus 14 ha in Q1 and 34 ha in Q2 2008.

Gross allocation in Q2 this year slid to 5.4 ha. And termination jumped to 37.6 ha, from 16.7 ha in Q1. Almost half of total terminations stemmed from the electronics segment. And almost a quarter of terminations was due to companies consolidating operations.

Net allocation of generic land and specialised parks also moved into negative territory in Q2. Continue reading →