kobayashiGT Internal Moderator October 14, 2019 Share October 14, 2019 Holland Road Shopping Centre carpark up for sale with $32m guide price Source: https://www.straitstimes.com/business/property/holland-road-shopping-centre-carpark-up-for-sale-with-32m-guide-price? SINGAPORE - A freehold car park at Holland Road Shopping Centre is up for sale via expression of interest (EOI) with an indicative price in the range of $32 million. The 47-lot car park, which is located on the basement level of the shopping centre, has a strata floor area of 1,503 square metres and is zoned commercial, marketing agent Edmund Tie said on Monday (Oct 14). It is not subject to additional buyer's stamp duty or seller's stamp duty, and is eligible for purchase by both local and foreign buyers. Key tenants of Holland Road Shopping Centre include Cold Storage, UOB Bank, Watsons and Guardian Pharmacy. The mall has a 78 metre wide frontage along Holland Avenue, and is situated at the entrance of the Holland Village or Chip Bee Gardens precinct. Swee Shou Fern, Edmund Tie executive director of investment advisory said that strata-titled car parks are tightly held and rarely available for sale. Strategically located in a lifestyle hub, the car park offers "strong and steady cash flow". "Such an investment opportunity is hard to come by and we expect keen interest from investors who wish to capitalise on the tight supply of parking spaces in this bustling enclave, with potential capital upside from a collective sale," Ms Swee added. The EOI exercise for the car park will close on Nov 20, 3pm. ↡ Advertisement 3 Link to post Share on other sites More sharing options...
Jman888 Moderator October 14, 2019 Share October 14, 2019 buy liao convert into apartment ? 😂 1 Link to post Share on other sites More sharing options...
Mustank Hypersonic October 14, 2019 Share October 14, 2019 Buy buy buy!!! 1 Link to post Share on other sites More sharing options...
Carbon82 Moderator October 14, 2019 Share October 14, 2019 How the new owner is going to make money out of the purchase? Assuming that all 47 lots are taken at all time, at a hourly rate of say $2.40, the ROI work out to be 32 years, and that is excluding other cost of purchase (e.g. taxes, legal fee, loan interest, etc.) and maintenance cost (e.g. utilities charges, labor, repair/replacement/upgrading, taxes, etc.) 7 Link to post Share on other sites More sharing options...
Jman888 Moderator October 14, 2019 Share October 14, 2019 wait for the next carrot head after 3-5 years, or maybe en bloc. 1 1 Link to post Share on other sites More sharing options...
Freeder Hypersonic October 14, 2019 Share October 14, 2019 50 minutes ago, Carbon82 said: How the new owner is going to make money out of the purchase? Assuming that all 47 lots are taken at all time, at a hourly rate of say $2.40, the ROI work out to be 32 years, and that is excluding other cost of purchase (e.g. taxes, legal fee, loan interest, etc.) and maintenance cost (e.g. utilities charges, labor, repair/replacement/upgrading, taxes, etc.) GLC will consider.. 3 3 Link to post Share on other sites More sharing options...
D3badge 6th Gear October 14, 2019 Share October 14, 2019 (edited) 1 hour ago, kobayashiGT said: Holland Road Shopping Centre carpark up for sale with $32m guide price Source: https://www.straitstimes.com/business/property/holland-road-shopping-centre-carpark-up-for-sale-with-32m-guide-price? SINGAPORE - A freehold car park at Holland Road Shopping Centre is up for sale via expression of interest (EOI) with an indicative price in the range of $32 million. The 47-lot car park, which is located on the basement level of the shopping centre, has a strata floor area of 1,503 square metres and is zoned commercial, marketing agent Edmund Tie said on Monday (Oct 14). It is not subject to additional buyer's stamp duty or seller's stamp duty, and is eligible for purchase by both local and foreign buyers. Key tenants of Holland Road Shopping Centre include Cold Storage, UOB Bank, Watsons and Guardian Pharmacy. The mall has a 78 metre wide frontage along Holland Avenue, and is situated at the entrance of the Holland Village or Chip Bee Gardens precinct. Swee Shou Fern, Edmund Tie executive director of investment advisory said that strata-titled car parks are tightly held and rarely available for sale. Strategically located in a lifestyle hub, the car park offers "strong and steady cash flow". "Such an investment opportunity is hard to come by and we expect keen interest from investors who wish to capitalise on the tight supply of parking spaces in this bustling enclave, with potential capital upside from a collective sale," Ms Swee added. The EOI exercise for the car park will close on Nov 20, 3pm. Mr Loi Macau Rio Casino owner paid double the PSF for the cold storage space in 2016 https://www.businesstimes.com.sg/real-estate/holland-vs-cold-storage-space-sold Edited October 14, 2019 by D3badge 2 Link to post Share on other sites More sharing options...
D3badge 6th Gear October 14, 2019 Share October 14, 2019 (edited) 1 hour ago, Jman888 said: buy liao convert into apartment ? 😂 you are buying basement carpark leh! you will invest in condo that dun have windows?!?!? LOL Edited October 14, 2019 by D3badge 2 Link to post Share on other sites More sharing options...
D3badge 6th Gear October 14, 2019 Share October 14, 2019 1 hour ago, Carbon82 said: How the new owner is going to make money out of the purchase? Assuming that all 47 lots are taken at all time, at a hourly rate of say $2.40, the ROI work out to be 32 years, and that is excluding other cost of purchase (e.g. taxes, legal fee, loan interest, etc.) and maintenance cost (e.g. utilities charges, labor, repair/replacement/upgrading, taxes, etc.) Mr Loi paid almost $5000PSF in 2016 for cold storage space! thus subjective this is basement carpark though Link to post Share on other sites More sharing options...
Kusje Supersonic October 14, 2019 Share October 14, 2019 46 minutes ago, D3badge said: Mr Loi paid almost $5000PSF in 2016 for cold storage space! thus subjective this is basement carpark though It is basement carpark but classified as commercial. Wonder if can convert it to something else or not. Link to post Share on other sites More sharing options...
Scion Turbocharged October 14, 2019 Share October 14, 2019 3 hours ago, Carbon82 said: How the new owner is going to make money out of the purchase? Assuming that all 47 lots are taken at all time, at a hourly rate of say $2.40, the ROI work out to be 32 years, and that is excluding other cost of purchase (e.g. taxes, legal fee, loan interest, etc.) and maintenance cost (e.g. utilities charges, labor, repair/replacement/upgrading, taxes, etc.) funny right? maybe the owner thinks there will be a buyer who 1. think the shopping mall will be bought over (but strata titled mall... difficult lah) or redeveloped, then can profit due to the huge floor area 2. think can make profits from parking (maybe increase to $5 per hour) 3. is simply a big carrot head or sucker Link to post Share on other sites More sharing options...
Soya Supersonic October 14, 2019 Share October 14, 2019 Assuming the carpark could be converted to commercial space, $32M works out to a tad under $2000 psf. Being FH and next to MRT in a popular commercial area, $2k psf is not necessarily unreasonable 2 Link to post Share on other sites More sharing options...
Tianmo Hypersonic October 14, 2019 Share October 14, 2019 If I have $32 million now, I will buy. 2 Link to post Share on other sites More sharing options...
Tianmo Hypersonic October 14, 2019 Share October 14, 2019 3 hours ago, Carbon82 said: How the new owner is going to make money out of the purchase? Assuming that all 47 lots are taken at all time, at a hourly rate of say $2.40, the ROI work out to be 32 years, and that is excluding other cost of purchase (e.g. taxes, legal fee, loan interest, etc.) and maintenance cost (e.g. utilities charges, labor, repair/replacement/upgrading, taxes, etc.) The rate now is $2.40 per 30min, which works out to $4.80 per hour. $5 per entry after 5pm on weekdays and $6 per entry on weekends. Link to post Share on other sites More sharing options...
Tianmo Hypersonic October 14, 2019 Share October 14, 2019 20 minutes ago, Scion said: funny right? maybe the owner thinks there will be a buyer who 1. think the shopping mall will be bought over (but strata titled mall... difficult lah) or redeveloped, then can profit due to the huge floor area 2. think can make profits from parking (maybe increase to $5 per hour) 3. is simply a big carrot head or sucker The current rate is $2.40 per 30min. Which is almost $5 per hour, and still getting a lot is very much depend on luck. $5 per entry after 5 on weekdays and $6 per entry on weekends, and can almost never get a lot. It's FH, and it's HV... Link to post Share on other sites More sharing options...
Soya Supersonic October 14, 2019 Share October 14, 2019 8 minutes ago, Tianmo said: If I have $32 million now, I will buy. Can borrow from sifu. Some say hor when he sneeze hard, $50M can accidentally drop out from his pocket. Quickly go buy pepper 1 1 Link to post Share on other sites More sharing options...
Benarsenal Turbocharged October 14, 2019 Share October 14, 2019 4 hours ago, kobayashiGT said: Such an investment opportunity is hard to come by and we expect keen interest from investors who wish to capitalise on the tight supply of parking spaces in this bustling enclave, You know what this means or not? It means they know parking spaces are limited at Holland V, and so expect parking charges to go up soon. Everything up up up. 1 Link to post Share on other sites More sharing options...
Tianmo Hypersonic October 14, 2019 Share October 14, 2019 8 minutes ago, Soya said: Can borrow from sifu. Some say hor when he sneeze hard, $50M can accidentally drop out from his pocket. Quickly go buy pepper With so many body guards, I don't think I even got chance to get within 10m lor... ↡ Advertisement Link to post Share on other sites More sharing options...
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