"A Lot Of People Don't Get It! Small Office Home Office (Soho) means you can lease out as residential or as Grade A office as it is also a "register-able" business address --  in central CBD! You get the highest rental yield ever on commercial - 10% "

FACT SHEET

One single tower of 45-storey Grade A office or residential. Each floor contains 5 units.

• Developer         : BS Capital
• Total Units       : 168
• Highest Floor   : 45th
• Sizes                  : Studio   507/678 sqft
                               2-bed    968 sqft
• Expected TOP : 2011

FACILITIES

Sky Terrace 34th (with stunning view of harbour & city)

Swimming pool
Jacuzzi
The Hoop (half basketball court)
Tennis court
Clubhouse
Gym
Sundeck
Star-gazer "deck"

UNIT AVAILABLE FOR SALE

678sqft Studio unit above 30th floor (spectacular harbour view), Stack 03

Asking ONLY $1.4M - $2065sqft!  

Developer has todate released only 100 units and kept 1/3 stock from 35th to 45th floor to be launched only later maybe at abovve $3000psf ! (read article in Edge at the end)

See floorplan below for both office or residential configuration.



WHY BUY? -- 6 COMPELLING REASONS

1. Soho allows you the flexibility to cash in on either commercial or residential rentals.  Currently commercial rental fetches highest return due to tight office squeeze not expected to let up anytime soon.  Grade A office rentals now reaching $16psf (see article below).  Come 2011, assume a rate of a conservative $18 psf (usually higher for smaller units), YIELD = 10.4%!
   
2. Take it back at some point as use it as home within 10 mins walk from the new Marina Sands Integrated Resort! The meaning of live, work, play, entertain & party in the new downtown will truly come to life for you - you live in the most happening place in Singapore come 2010!
   
3. Developer still have 1/3 units from 35th upwards yet to be launched.  Expected pricing from $3000psf and above come nearer to IR opening.  This provides a strong support for asset value!  Also, consider Far East Icon top floor above 30th selling at $2200psf and the new Marina Bay Suites launching soon at average $3000-3500psf range.
   
4. With tight office supply squeeze, government will not allow any conversion of existing office space to residential purpose hence limiting the total supply of residential units in CBD to 3500 units even come 2012!  While demand is on the rise.  Consider this - in 2001 we have only 20 private banks operating in Singapore, in 2007 this number has shot up to 42 with Singapore's growing status as the new global destination to park one's wealth with interest  tax-exempt for non-residents & declining US dollars as major drivers.
   
5. Soho projects are rare.  Compare Lumiere with 2 other Soho projects -Southbank at Lavender area & Soho@Central at Clarke Quay.  Lumiere beats them flat as Grade A office in prime business district! Need i mention Soho@Central is selling at $3000psf ...
   
6. How wrong can you go with a location right smack in prime CBD district 3 mins walk from Tanjung Pagar Train Station, surrounded by numerous offices, food, entertainment, etc.

LOCATION

Mistri Road right next to M Hotel.  

Search for location
(key in property name in "Building" field)



SITE PLAN





FLOOR PLAN

(The balcony of unit along Mistri Road, with harbour view towards the bottom)


SOME RELATED NEWS


Business Times - 11 Jan 2008

Office redevelopment worsens space crunch; rents soar

CBD supply fell 3.7% y-o-y in Q4 2007 to 19.98m sq ft: DTZ

By ARTHUR SIM

ONLY 341,180 sq ft of new office supply became available for the whole of last year. At the same time, 1.02 million sq ft of office space was taken away, as a result of buildings undergoing redevelopment or addition and alteration work.

A report by DTZ Debenham Tie Leung shows that existing stock in the central business district (CBD) was 19.98 million sq ft in the final quarter of the year, a decline of 3.7 per cent year-on-year.

Island-wide, the decline of existing stock was marginally less at 1.2 per cent to 56.04 million sq ft.

For non-central areas, existing stock increased by 0.6 per cent to 15.16 million sq ft.

Tight supply has pushed up occupancy levels to 97.5 per cent island-wide, an increase of 2.5 percentage points from the comparable quarter in 2006.

DTZ says that office rents have consequently risen to record levels, with prime office rents in Raffles Place for the quarter 94.1 per cent higher than 12 months previously, at $16.50 psf per month.

High rents prompted companies to consider relocating to lower-cost premises in the CBD fringe, non-central areas and several business parks.

Average monthly gross rents for office buildings in areas like Marina Centre, Alexandra Belt and Tampines Finance Park jumped 81.3 per cent to $14.50 psf per month, 85 per cent to $7.40 psf per month and 62.2 per cent to $7.30 psf per month respectively year-on-year.

While the short-term situation remains challenging, DTZ believes the mid and long-term situation could prove better for office tenants.

DTZ executive director Cheng Siow Ying said: 'The pace of rental growth is expected to moderate as tenants become more rent-sensitive and more choices of office supply such as transitional offices, disused state properties and business park space are made available to occupiers.'

DTZ is forecasting that about 7 million sq ft of net lettable area could come on stream in the next four years.

In 2007 alone, it estimates that 1.9 million sq ft of gross floor area of office space was generated through the conversion of disused state properties for office space and transitional office sites.

Supply of business park space in the industrial sector also increased in 2007.

Island-wide, existing stock of industrial space increased 4.1 per cent to 297.36 million sq ft.

Of the 7.6 million sq ft of private industrial space that was completed in the first three quarters of 2007, DTZ said that 5 per cent was business park space. DTZ also estimates that 7 per cent of the 20.4 million sq ft potential supply of private industrial space over the next three years could be business park space.

DTZ executive director Chua Wei Lin said: 'An increased number of business park developments, built-to-suit and high-tech facilities are expected to come on stream, partly due to heightened demand from qualifying office users as the office market tightens.'

Average monthly gross rents for business park/science park/high- tech industrial space recorded increases of 50 per cent year-on-year to hit $3.90 psf per month.

>>READ EDGE ARTICLE PART I<<

>>READ EDGE ARTICLE PART II<<

TO YOUR REAL ESTATE INVESTMENT SUCCESS!

Darren Goh
ERA
Your Real Estate Partner
(65) 9106 - 5661
darrenG@singnet.com.sg

Disclaimer :
This article represents solely my personal view and care should be exercised by you in your property purchase which should be based strictly on your own due diligence and judgment.  I do not represent that you will certainly make money on any part of my advice and I cannot be held liable for any losses, damage or failure in your property transaction now or in the future.  When figures are quoted, the sources will be credit-mention based on best of knowledge.