Originally Posted by
jeffreyghong
Hi, I noticed that there is a mixed development that is half the price of Soho @ The Central. Last transacted price is $978 psf. The Central was transacted at around $1800 psf. The other project that is nearby is Riverwalk which transacted at around $1350 psf.
Riverside is at the quieter side of Riverwalk. There is a hotel called St Regis which will also have office space, completing in 3Q 2010. THere is another parcel of land for hotel use, sold by the government in 2Q 2010.
Riverside has an apartment status, no facilities other than a small pool. Only 44 units. The rest are offices. It is located within the CBD area. Rental yield is around 4 - 5% and is easy to get corporate leases.
I am curious why this project is priced so cheaply and if it is another gem that will be noticed when St Regis is completed. Business around the area may improve at the end of the year if there are more offices and tourists.
I welcome your opinions.