>

>

Singapore office investment sales continue to lead in 3Q2014

By Cecilia Chow

October 12, 2014 12:00 AM SGT

Similar to 2Q2014, the office sector continued to drive the investment sales momentum, with $1.77 billion achieved in 3Q2014, according to a CBRE report. This amounted to 36% of the total sales volume for the year to date, notes the property consultant. That was mostly accounted for by the acquisition of one-third of MBFC Tower 3 (left) by Keppel REIT from Bayfront Development, a wholly- owned subsidiary of the REIT’s sponsor, Keppel Land, for a total sum of $1.25 billion. During the quarter, The Straits Trading Company sold Straits Trading Building for $450 million to Nine Battery, a company under Sun Venture Group.

The remaining two office transactions in 3Q2014 were bulk purchases of strata office units. Church Street Holdings sold the entire 18th floor of Samsung Hub for $42.35 million, while ProVest Realty bought 12 units of GB Building for $31.69 million. Demand for strata office units, especially completed ones, remains healthy as they appeal to mature investors and owner occupiers. REITs were seen to be active in acquiring properties to strengthen their portfolios. Keppel REIT’s acquisition aside, the market also saw A-REIT adding Aperia Complex to its industrial portfolio, at a cost of $458 million.

In addition, Far East Hospitality Trust acquired a 30% stake in the development of two Sentosa hotels for an estimated $138.5 million, with the remaining 70% stake held by its sponsor, Far East Organization Group. This was the only hotel investment deal in 3Q2014. The preliminary total investment volume for 3Q2014 stood at $4.93 billion. This reflects a marginal increase of 1.2% compared with the previous quarter, but a drop of 38.9% compared with 3Q2013.

Private-sector deals have surpassed public- sector sales, contributing $3.42 billion (69.4%) of total investment sales in 3Q2014.

This article appeared in the City & Country of Issue 647 (Oct 13) of The Edge Singapore.

Tags:

office investment sales MBFC Keppel Reit Samsung Hub GB building ProVest Realty Far East Hospitality

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00