Kevin Tan
08-06-16, 11:16
http://www.theedgeproperty.com.sg/content/strata-office-space-faces-stiff-competition
Strata office space faces stiff competition
By Cecilia Chow / The Edge Property | May 27, 2016 10:00 AM MYT
Tags: office
Competition has intensified in the strata office space. The bulk of the supply is coming from property developers and groups that purchased prime office buildings en bloc over the past three years and subsequently carved up small units for strata sales.
Examples include Prudential Tower on Cecil Street, which was purchased by a consortium led by KOP; GSH Plaza at Raffles Place by a group of investors led by GSH Corp; and Havelock2 by Guthrie GTS. The strata office units in these buildings were launched for sale over the past 1½ years.
The biggest expected roll-out of strata office space could come from assets owned by Perennial Real Estate Holdings and its investors. The company led a syndicate of investors who snapped up TripleOne Somerset on Somerset Road for $970 million in 2013. Perennial, leading another consortium of investors, swooped in on AXA Tower at 8 Shenton Way for $1.18 billion.
http://www.theedgeproperty.com.sg/content/strata-office-space-faces-stiff-competition
Strata office space faces stiff competition
By Cecilia Chow / The Edge Property | May 27, 2016 10:00 AM MYT
Tags: office
Competition has intensified in the strata office space. The bulk of the supply is coming from property developers and groups that purchased prime office buildings en bloc over the past three years and subsequently carved up small units for strata sales.
Examples include Prudential Tower on Cecil Street, which was purchased by a consortium led by KOP; GSH Plaza at Raffles Place by a group of investors led by GSH Corp; and Havelock2 by Guthrie GTS. The strata office units in these buildings were launched for sale over the past 1½ years.
The biggest expected roll-out of strata office space could come from assets owned by Perennial Real Estate Holdings and its investors. The company led a syndicate of investors who snapped up TripleOne Somerset on Somerset Road for $970 million in 2013. Perennial, leading another consortium of investors, swooped in on AXA Tower at 8 Shenton Way for $1.18 billion.
http://www.theedgeproperty.com.sg/content/strata-office-space-faces-stiff-competition