Riding on the strata retail property boom, Griffin Real Estate Investment Holdings, a wholly-owned subsidiary of education group ERC Holdings, is launching units for sale at Bugis Cube this Saturday.
Up to 91 strata units will be available at Bugis Cube, a six-storey, 999-year leasehold building at North Bridge Road.
It is currently undergoing a multi-million-dollar retrofitting that is expected to be completed by the middle of next year.
Investors have been driven to the non-residential segments of the property market following the Government’s imposition of harsh stamp duties on both sellers and buyers of homes last year to cool the red-hot housing sector.
Mr Andy Ong, chairman of ERC Holdings, said: “The Bugis area is one of the most vibrant shopping areas in Singapore. It is one of the few places that draw a young, trendy crowd seven days a week.
“Bugis Cube will be very attractive to retailers catering to youth and students. Furthermore, Bugis Cube is a rare opportunity for people to own prime retail property in the city centre.”
There are five MRT stations within a 10-minute walk from Bugis Cube, including the new Downtown Line Bugis interchange that will open by the end of next year, ERC said.
The firm added that the area would be enhanced by the construction of the South Beach development as well as the Rochor development by Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional.
Source : Today – 2012 Jun 22
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