Worldwide GradeA Office Survey

A survey by Colliers Int'l has ranked S'pore Grade A office space as the 7th most expensive in the world and 3rd in Asia-Pacific in June. The ave annual gross rent here was US$125.06, less than HK at US$213.68, London at US$207.42 and Moscow at US$167.29.

As for vacancy rates, S'pore 7.5% was ranked 13th in Asia-Pacific, below Perth at 0.3%, Seoul at 0.7% and Brisbane at 1.2%.

And in supply, S'pore was ranked 16th with 8.6mil sf of offices under construction, below Dubai at 42mil sf, Shanghai at 41.6mil sf and Guangzhou at 19.8mil sf.

US remained the most active office investment sales market, although volume has dropped 69% to US$28.6bil.

* AsiaOne-Office *

Good Response for Martin #38

SC Global's FH loft apartments, Martin #38, received good response with all 30 private preview units taken up at prices of $1,881 - $2,494 psf (ave $2,130 psf), of which 60% are overseas buyers.

The 91-unit 15-storey project has mostly small units of 969 sf - 1,130 sf & a few larger ones of 1,335 - 1,485 sf.

This yr, deals at Robertson Quay area have been transacted at $1,130 - $1,840 psf.

* AsiaOne-Martin *

Fusionopolis Phase1

Fusionopolis, comprises of 2 towers & a podium for its phase1, has abt 183k sf of retail space. Rental ranges fr $4.50 - $12 psf and >50% of retail space has been taken up and left abt 86,100 sf. Some of the tenants are Cold Storage, Fitness First, Starbucks, Harry, Raffles Medical Grp, etc. Frasers Hospitality will have 50 work loft units there.

Phase 2A & 2B are likely to be completed in 2010.

* AsiaOne-Fusion0polis *

Orchard Central Duplex Plan Scrapped

Upcoming Orchard Central, near Somerset MRT, will replace its planned duplexes at ground floor with single storey units. The demand for such duplex stores has weakened due to slower economy, and there has been an intense competition for big brands as several malls are springing up.

Over at Ion Orchard, it has high-end labels such as Cartier, Louis Vuitton to front its duplexes. Industry experts pointed out that area near Orchard MRT is more attractive than Somerset MRT.

* AsiaOne-Orchard Ctrl *