The developer Landlease also announced their intention to list their REIT in Singapore with more than half a billion SGD IPO in SGX.
https://www.straitstimes.com/busines...listing-on-sgx
The developer Landlease also announced their intention to list their REIT in Singapore with more than half a billion SGD IPO in SGX.
https://www.straitstimes.com/busines...listing-on-sgx
https://www.edgeprop.sg/property-new...uites%E2%80%99
"According to Lendlease, just seven units – three-bedroom units of 1,076 sq ft to 1,367 sq ft – remain available for sale."
3 units left from April to August. Soft launch in 30th August 2019.
https://www.businesstimes.com.sg/real-estate/park-place-residences-nearly-sold-out-just-3-units-available
Should be sold out by TOP in 2020? I understand it's the 3 bedders still left hanging on the display closet.
...and I can't wait to rent it out.
The voucher means nothing since lawyer has not informed me on the last 2 payments. TOP is not in sight yet this year at least for me at high floor.
"All but one of the 429 units have been sold, in a two-part staggered sales approach." It's really hard for a 100% sell out these days?
https://www.businesstimes.com.sg/rea...s-new-precinct
congrats to all investors of PPRs.. haven't been to PLQ yet recently.. how's the vibe? Good and atas or not?
Bro, compared to what is around in the immediate 100m vicinity, I would say its the best. Compared to all other sub-urban malls, it is as deadpan as it can get. If you are there for food, there are a few options only found in this mall. For its retail experience, I rather go parkway. Atas is the last thing on my mind. I would call this a premium development but never luxury.
However as a tenant, I would potentially view it differently since its directly connected to PPR via an overhead bridge and basement is linked to Circle Line. It is as connected as it can be for a city fringe property that is equal in psf compared to Stirling Residences. 3 supermarkets including Kinex, 2 cinemas, 2 MRT lines, 3 Grade A office blocks and 200 over shops.
For MND chief to grace its opening, government is pretty serious about this development. We are watching closely for the hotel and commercial site nearby to be fitted next.
"Mr Lawrence Wong, the Minister for National Development and Second Minister for Finance, said at the opening ceremony: "All in all it's a tremendous opportunity for us to reimagine and remake Paya Lebar for the future, even for the next century." Next century??
https://www.straitstimes.com/busines...ially-launched
This is but a first of many in this growth area. Watching this space.
Good to hear! Been meaning to go for a while now, can't seem to find the time.
That whole area around PLQ needs serious rejuvenation if you ask me.. PLQ is definitely a major step towards that. Looking forward to some more big names moving into those Grade A offices, too.
Any idea how much of the 900,000 sft office space has been tenanted out?
Rich people are normally busy.
I was told for office and shops, its 90% tenanted or in some stage of signing them on. The take up I must say is pretty healthy.
For Grade A city fringe, there is little or no competition right now. They can call out the price then increase it later. Bayer just signed on after Great Eastern and SMRT as anchors.
Unfortunately I'm not rich, I wish I were
Went through the internet yesterday after your posts, yup, seems like office supply still tight in CBD and this is good news for PLQ.
Need those larger companies / MNCs to HQ there in order to attract good tenants (and spillover to surrounding areas too!) so awaiting further announcements for the offices.
Cheers, buddy!
The funny thing is, I reckon the tenants for mixed/integrated development are not working nearby. My Duo tenant is one such example. The key is how well connected it is for them to take train to and fro work and how far away it is. City fringe integrated development being the first with Grade A office is anyone's guess how much the residence rental can command. Time will tell in 2020.
As like all Grade A offices rental, it is at the mercy of the ebbs and flow of supply demand. As the economy slows to 0.1% or near zero GDP growth, asking for higher commercial rental will be tough as the data reflect that too. The graph shows flatline for 2020-2022 though I see this opportunity for city fringe Grade A which could be tiered slightly lower since its not prime location like Shenton way/Marina Bay.
https://sbr.com.sg/commercial-proper...pply-moderates
CBD vs City Fringe Grade A Office rental gap.
https://sbr.com.sg/commercial-proper...ices-widens-22
This has some inkling to recent Office REITs M&A/price movement too.
Too bad Landlease did not include PLQ into its recent IPO but its still very early days of Landlease being any kind of major player here.
Park Place Residences is 100% sold as of Double 11, 2019. Commercial is 90% leased.
"Fully sold, 90% leased
The 429-unit Park Place Residences at PLQ, which was launched in two tranches – in March 2017 and April 2018 – is already fully sold. The last unit was taken up on Monday, Nov 11. Average price of units sold is $1,875 psf, which has set a new benchmark in the area. PLQ’s three Grade-A office towers with about 1 million sq ft of space is 90% leased and so is the PLQ Mall, which has about 340,000 sq ft of retail space and about 200 retail and F&B outlets."
Source: https://www.edgeprop.sg/property-new...spur-lendlease
For investors like me who are thinking of renting it out, please set new benchmark prices too. I do not mean at the lower end. ;p
Anyone collected keys already?
Pretty much all done up from the exterior facade based on what I can see.
Not yet but real soon.
Insider news say there’s some delay because of the carpark.
Finally got an indication that we will get our keys soon.
Thanks. Can't say this is the best time to get the keys but its way better than waiting and not knowing when for sure. Rolling up the sleeves.