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February 2020 BTO: Sembawang, Toa Payoh BTO Flats

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Author: Si jie LIM

While it has only been 2 weeks into the new year, a lot of hopeful couples are eagerly anticipating the first round of BTO launch that’s coming up in February 2020 BTO. The February 2020 BTO plots offer some interesting choices for Singaporeans who are looking to settle down with their other half. iCompareLoan is here to help you to make better decision when deciding your BTO choices, i.e. by decoding the upcoming Sembawang BTO and Toa Payoh BTO for hopeful applicants.

Sembawang BTO: Accessible BTO With Good Amenities In A Non-Mature Estate

February 2020 BTO Sembawang BTO

MAP 1: Sembawang BTO map for February 2020 BTO

Unless you have been living in the Northern part of Singapore for most of your life, it is improbable that you will want to choose to live there. The reason is because most people have the misconception that the Northern part of Singapore is very inaccessible, especially if you are travelling by public transport. Well, that isn’t always the case.

For instance, this upcoming Sembawang BTO is exactly the counter example you need to debunk that misconception. With the Canberra MRT situated right at the feet of the development, future residents of this Sembawang BTO has the luxury of walking to the MRT by foot.

If you look around the map, you will notice that there are a lot of condominiums in the area. These condominiums were built in anticipation of the Canberra MRT station for years. Now that the Canberra MRT station is up and running, you are paying a hugely discounted price to stay right next to Canberra MRT. You don’t even have to wait for the MRT to be built, unlike all those condominium developments. We dare say that you are getting a good deal with this Sembawang BTO if you are lucky enough to get a good ballot number.

February 2020 BTO: Sembawang HDB BTO Details

Nearest MRT Canberra MRT
Nearest shopping mall Sembawang Shopping Centre, Canberra Plaza (u/c), Sun Plaza
Nearby amenities Jalan Sendudok Park, Jalan Kemuning Park, Yishun Neighbourhood Park, Canberra-Sembawang Park Connector, Sembawang Hot Spring

Chong Pang Market, Sembawang Community Club, Bukit Canberra (Sembawang Sports and Community Hub) (u/c)

Schools in the area Ahmad Ibrahim Secondary School, Northland Secondary School, Sembawang Secondary School,

Xishan Primary School, Sembawang Primary School, Chongfu School, Canberra Primary School, Wellington Primary School, Endeavour Primary School,

Commute time to City Hall MRT 55 minutes
Commute time to nearest shopping mall 10-15 minutes (by foot)
Types of flats offered 2R Flexi, 3R, 4R, 5R, 3GEN
Estimated number of units 1,400

Table 1: Sembawang BTO Details Table for February 2020 BTO

Toa Payoh BTO: Central Location vs Housing Size

February 2020 BTO Toa Payoh BTO

MAP 2: Toa Payoh BTO map for February 2020 BTO

Toa Payoh is one of the oldest housing estates in Singapore. As such, most of its land space is already fully utilized. That’s why when we saw that they are opening up 2 new BTO launches in February 2020 BTO, it was unbelievable.

The demand for these 2 Toa Payoh BTO launches is forecasted to be quite strong given that it is so rare for BTO launches to happen in Toa Payoh. For couples who are looking to stay near your parents in Toa Payoh, this Toa Payoh BTO is your chance.

The other reason for a strong demand is that the Toa Payoh BTO is within 20 minutes from City Hall, both by MRT and by car. For those who are working within the Central Business District (CBD), this is a huge incentive to apply for the Toa Payoh BTO.

However, you will need to consider whether the housing sizes will fit your needs. For the Toa Payoh BTO launch, the biggest housing size is 4R. This could be a tiny bit small for you and your spouse, especially if you are planning for a few kids in the future. You will need to weigh the pros and cons of a very central location against the size of the housing.

For those who buy a BTO, you can opt to use HDB loan or bank HDB loan to finance your HDB BTO flat.

February 2020 BTO: Toa Payoh BTO Details

Nearest MRT Caldecott MRT (Circle Line), Caldecott MRT (Thomson East Coast Line) (u/c), Braddell MRT, Toa Payoh MRT, Potong Pasir MRT
Nearest shopping mall HDB Hub
Nearby amenities Toa Payoh Stadium, Toa Payoh Sports Hall, Toa Payoh Polyclinic, Mount Alvernia Hospital, Singapore Islamic Hub, Toa Payoh Public Library, Kallang Park Connector

Toa Payoh South Community Club, Toa Payoh South Community Club, Toa Payoh West Community Club

Schools in the area Lighthouse School, Marymount Convent School, Raffles Girls’ School (u/c), CHIJ Secondary School (Toa Payoh), Beatty Secondary School, St Andrew’s Secondary School,

CHIJ Primary School (Toa Payoh), First Toa Payoh Primary School,

SJI International, St Andrew’s Junior College,

Commute time to City Hall MRT 20 minutes
Commute time to nearest shopping mall 15 minutes (by train)
Types of flats offered 2R Flexi, 3R, 4R
Estimated number of units 1,620

Table 2: Toa Payoh BTO Details Table for February 2020 BTO

Discuss what you think about the upcoming February 2020 BTO launches with us here.

The post February 2020 BTO: Sembawang, Toa Payoh BTO Flats appeared first on iCompareLoan Resources.

Lessons You Should Learn from Our Bright Packaging Investment: 28% Loss, 84% Profits

Click on Lessons You Should Learn from Our Bright Packaging Investment: 28% Loss, 84% Profits
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https://www.drwealth.com/wp-content/uploads/cropped-drwealth-favicon-32×32.jpg Author: Alvin Chow

Value strategies can be applied anywhere and although Singaporeans like to shop in Malaysia, it … Read more >>
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Grab set to scrap some vouchers and increase cost of rewards

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Author: Ravi Philemon

Grab set to scrap $15, $20 and $25 vouchers and increase cost of rewards from March

By: Jewel Stolarchuk/

Grab has announced major revisions to its GrabRewards programme, which will go into effect from 2 March 2020 onwards. Users will see the cost of rewards go up while certain coveted rewards like S$15, S$20 and S$25 vouchers will disappear under the updated rewards programme.

From March, Grab users will earn fewer GrabRewards points with each transaction on the platform. While users currently earn between 2 to 10 points per dollar depending on the Grab service and the rewards tier they belong to, users will only be able to earn 2 to 4 points per dollar across all types of Grab transactions when the rewards update kicks in.

Additionally, members who belong to the higher tiers – like the Gold or Platinum rewards tier – will no longer be able to use fewer points to unlock bigger discounts. From March, Grab ride and food delivery vouchers will cost a standard 550 points for S$1 off, 2,500 points for S$5 off, and 5,000 points for S$10 off no matter which tier members belong to.

For comparison, a S$10 Grab ride or food delivery voucher presently costs 4,200 points for regular members, 4,000 points for Silver members, 3,800 points for Gold members, and just 3,600 points for Platinum members.

The S$15, S$20 and S$25 ride and food delivery vouchers that are available now will no longer be offered when the update goes into effect.

Users who are part of the Platinum tier – the highest rewards tier – now earn 10 points per dollar spent on GrabPay transaction but will only earn a maximum of four points per dollar spent after the update. This means that Platinum members will need to spend about S$1,250 to accumulate enough points to be eligible for the S$10 discount after the update.

Users will also have to spend more to unlock and maintain each membership tier from March.

Users who now need to spend S$60 to unlock the Silver tier will soon need to spend $150 to achieve that tier, those who need to spend S$240 now to move on to the Gold tier must soon spend $600 to progress to the Gold tier and those who want to move to the Platinum tier must soon spend a hefty S$1500 to do so, compared to the current cost of just S$600.

Additionally, some netizens have pointed out that it is no longer possible to make payments via GrabPay at transaction portals like YouTrip, Revolut and AXS.

grab

Grab said in a press statement that the revisions to its GrabRewards programme will be made to adapt better to “shifts in customer expectations”:

“Our customers today interact with the Grab app more frequently for their transport, food, payments and other needs, and are demanding for better engagement on the platform. With shifts in customer expectations, coupled with the overall growth of our ecosystem, the way we reward and create value for our customers must change too.”

Grab is expected to run more promotional campaigns this year like flash sales and the ongoing ‘Zodiac Coin Hunt’ campaign that was launched to coincide with Chinese New Year.

Assuring users that they will soon have “more places to earn and spend their reward points at millions of merchants” despite the plunge in points per dollar, Grab said: “In addition, customers can also look forward to more ways of earning points and rewards, such as through Challenges, flash sales and moment-based campaigns.”

Commuters who responded to Grab’s announcement of revision to its rewards programme expressed their unhappiness in the various news platforms.

Facebook user Allen Eleaneur Chong writing on The Straits Times FB page said: “That’s the impact of not restricting the M&A between Grab and Uber last time. Now consumers will feel the pain without a competent competitor.”

Some Facebook users commenting on the same platform suggested that the travel app company will lose more business to its competitors because of this unpopular move. Others encouraged commuters to quickly use their rewards before the revised rewards programme kicks in.

Facebook user Rishi Katreddi commenting on Today’s report on the issue said: “This is what happens when one brand monopolizes the market.” Facebook user Joice Toh sid: “We need some worthy competitors.”

Facebook user Ng Swee Shoon said: “As with Lazada’s LiveUp membership, once the threshold of perceived rewards fall below an acceptable level, pioneer members will look for alternatives. A great opportunity for Gojek, Comfortdelgro, Deliveroo and Food Panda.”

And Facebook user Singh Prem said: “Does not surprise me one bit! The richer it gets, it loses integrity, and starts to show its true colours – real ugly, from my perspective. I find this to be in bad taste. It is very much like biting the hand that feeds it.”

Mr Paul Ho, chief mortgage officer at iCompareLoan, said: “This is not the first time Grab has massively devalued its rewards programme.”

He added, “Commuters should quickly redeem their Grab points before the revised rewards programme kicks in. It remains to be seen if commuters will migrate to other competitor apps like Gojek and Tada to protest Grab’s devaluation of its rewards programme.”

In July 2018, Grab gutted the earning rates for rides and hiked the cost of vouchers for its customers. In March 2018, when Uber sold out to Grab many people feared that Grab’s newly-gained monopoly power would lead to higher prices for rides. New entrants to the market have helped to better mitigate the price hikes, but not before critics took the transport travel app company to task.

Aaron Wong writing in The Milelion said then, “this is not how you run a loyalty program. Unannounced devaluations and sticking it to your most loyal customers? Who’d want to use your service then?”

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Borrow funds to ensure your business venture remains successful

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Author: Ravi Philemon

Did you borrow funds when your business is successful? The success or failure of your business can hinge on it

By: Hitesh Khan/

As you know, a loan is based on a simple idea: someone gives you money and you promise to pay it back, usually with interest. Loans are so common that you probably are familiar with the mechanics, but nevertheless it makes sense to review the basics.

borrow fundsThe success or failure of your business can hinge on the question of if you did borrow funds when you were in the black. You may want to borrow funds which are just enough that your company can reach its potential, but not so much that you have severe difficulty paying it back.

It can be a mistake to pour too much money into your business at the beginning. A fair number of small businesses fail in the first year, so raising and spending a pile of money for an untested business idea can lead to much grief – especially if you’re personally on the hook for borrowed funds. Consider starting as small and cheaply as possible.

You have many options when looking a loan for your business. For small ventures, responsible borrowing means considering if friends and family members are willing to help. For sophisticated or mid-sized businesses, banks, cooperatives, and savings and loans may be willing to lend you money.

While a friend or relative may be willing to lend you money on a handshake, responsible borrowing would tell you that this is a bad idea for both of you. It’s always a better business practice to put the loan in writing, and to state a specific interest rate and repayment plan. Otherwise, you open the door to unfortunate misunderstandings that can chill your relationship.

Close look at small business loan documents now could save you headaches later

If you want to borrow funds responsibly, you should also know how interest rates on your loans work.

Interest is a percentage of the amount that you owe that is added to your balance periodically as a fee for using the money. It will continue to accumulate until your debt has been repaid.

Interest rate is the percentage of the debt that is charged as interest. Every loan, mortgage, credit card, or medical bill that you ever will receive will have an interest rate associated with it. These can vary wildly between financial products, and also between consumers based on their credit histories.

It is very important for you to know how interest works, because otherwise you might not understand why your balance never seems to get any lower even though you are making payments, or just how much your debt really is costing you.

Interest rate is a fact of life, so understanding how they work is crucial to financial planning and debt repayment. Do not ignore the power that compound interest can have on your debts, but also remember that interest can work for you just as well as against you!

It is important to understand how Interest rate works as it affects you

Personal guarantee is an inherent part of responsible borrowing but there are many ambiguities and misunderstandings that surround the topic of personal guarantees.

A personal guarantee is an unsecured promise from an individual to make loan payments when a small business is not able to do so. “Unsecured” means it is a promise that is not backed up by a specific asset, such as real estate, in which case, the asset would be considered collateral.

A personal guarantee is an added assurance that you are serious about your business – and most importantly – serious about repaying the loan. One big reason why a personal guarantee is needed is because most lenders are bankers and are in the business of accepting deposits. They use those deposits to make small business and other loans, and, as a result, they are responsible for protecting the interests of their depositors.

Be mindful that while your small business may be a borrower, you are also a depositor. As such, you would be affected if an unscrupulous small business owner borrowed your company’s deposits and did not bother to repay them.

A personal guarantee is a psychological reminder to you of your company’s obligation to make timely payments and eventually repay the loan. If it fails, you are responsible. A personal guarantee shows your commitment to being a responsible business manager and repaying your business loan.

Financial affairs of a small business are commonly intertwined with the personal financial affairs of its owners, so it is logical and reasonable to ask you to promise to repay the loan, if your company cannot. A personal guarantee offers lenders the ability to follow the due process to recover the business loan from you personally.

If you believe it is important to borrow funds, you should speak to a loan consultant who can set you up on a path that can get you a it in a quick and seamless manner. Loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. You should also find out about money saving tips. You should also check out Affordability Tools which can help you make better property buying decisions. Calculators, are also an essential tool which can help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge.

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Financing restrictions can incapacitate a business if left to fester

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Author: Ravi Philemon

In an environment of financing restrictions for start-up businesses where funds are limited, a mindset shift is required

By: Hitesh Khan/

We are conditioned to begin the process of looking for new business opportunities by asking: “Where is there a gap in the market and how can I fill that gap?” A gap could be an unfilled customer need or a new invention yet to be brought to market.

Next, we establish a goal to create a venture that will fill that gap. We consider the resources necessary to make our goal a reality and go out in search of those resources. We write a business plan and present it to potential financiers with the promise of a return on investment.

If the financiers like us and like our idea, they provide us with the capital to start the business. If not, we are stuck. Most times, people find it difficult to raise the resources they require, causing the entire project to fall on its head.

There is an alternative route to creating a new venture. Instead of starting with the question, “Where is there a gap in the market and how can I fill it?” ask yourself, “What do I have and who do I know?”

financing restrictions

Image credit: Flickr l Aleksandr Zykov

Carefully examine the resources and relationships over which you have influence, and consider how you can put these to work quickly and effectively to create an offering that the market needs or wants. You can experiment using different combinations of resources to test how the market responds to different offerings and over time create an offering that is really valuable to others.

With this approach, an entrepreneur’s goals emerge over time, taking resources, connections and contingencies into account.

They are not fixed at the start of a project as they are when the traditional approach is applied.

More stringent personal loan restrictions to kick in from next year

Here are some principles and guidelines that will provide you with a better chance of effectively launching a business with financing restrictions.

1. Start with what you have

At the outset of looking to start a new business with financing restrictions, take stock of what you have at your disposal. Consider your:

  • Skills – what can you do?
  • Experience – what have you done in the past?
  • Knowledge – what do you know?
  • Tangible resources – what do you own and what do you have access to?

2. Take into account who you know

What you have needs to be combined with who you know for it to have real power. Take stock of the relationships you have with others, map out your network of connections and consider how your connections could enable you to use what you have more effectively.

3. Invest what you can afford to lose

There is a big difference in your mindset if you start with the perspective that “I am investing this amount and I expect a 30% return” versus “I can afford to lose this much, therefore I will put it into the business and see if I can make it work”.

If you have only put in what you can afford to lose, you maintain flexibility in the business and minimise stress in managing it. If you are only willing to invest when you expect that you can get a specific return, there is a strong chance that you may never take the leap and launch the business you always dreamed of owning.

An example of this is the entrepreneur who refuses to leave a well-paying job until he finds an opportunity that he predicts will pay more, versus one who decides to invest a small portion of her savings and two years of her life in a project that she believes is worth that amount of time and money – irrespective of whether it will pay more than what she currently earns.

This is one good reason why those with financing restrictions should never not consider using a personal loan to finance their businesses.

5 tips for boosting your chances of getting personal loans

4. Experiment and adapt

With this mindset, flexibility and adaptability are a competitive advantage. You succeed not by becoming too fixated on a single goal or outcome but by being responsive to changes in the environment. Existing firms typically take longer to adapt than new firms because they have more incentive for things to remain the same and they have established routines and practices that reinforce the status quo.

New firms are not tied to the way things have always been done and thus entrepreneurs can benefit from shifts in consumer preferences, or shifts in technology or changing legislation by realigning their businesses to take advantage of such developments.

If you want to expand your business but have financing restrictions, you should speak to loan specialists. Loan specialists can set you up on a path that can get you the best business loans in a quick and seamless manner. Loan specialists are able to not only pre-qualify you with multiple lenders and compare rates and terms, they are also able to get you the best personal loans which has costs and payments that fit into your budget.

To lower the cost of borrowing, try to convince your lender to give you a better rate. You should negotiate with your lender and they may be willing to cut the interest rate to secure your business, and so the loan will cost you less. If you are uncomfortable about negotiating, you should engage the services of a loan specialist.

Loan specialists will not only be able to negotiate a better rate for you, they will also be able to help you compare the best personal loan offers from among the different ones given by the many banks. It also makes sense to engage loan specialists because their services are usually free.

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Thomson-East Coast Line on track to open in later part of 2020

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Author: Ravi Philemon

The second stage of the Thomson-East Coast Line (TEL2) is about 90 per cent complete, and on track to open in the later part of 2020.

Thomson-East Coast Line comprises six stations from Springleaf to Caldecott, with two interchange stations at Bright Hill and Caldecott. Bright Hill station will link to the future Cross Island Line, while Caldecott station will link to the existing Circle Line (CCL).

Thomson-East Coast Line

The 43km Thomson-East Coast Line is Singapore’s sixth MRT line, adding 32 new stations to the existing rail network, with eight interchange stations in total.

The line will open in five stages starting from this year to 2024. The first stage of Thomson-East Coast Line (TEL1), made up of Woodlands North, Woodlands, and Woodlands South MRT stations, will begin passenger service on 31 January 2020.

About 100,000 households will benefit from TEL1 and TEL2, as they are now within a 10-minute walk from one of the nine stations. These residents will be able to experience travel time savings of up to 50 per cent. For example, a Sin Ming resident travelling to Republic Polytechnic will have his journey time halved, from 50 minutes to 25 minutes.

When fully operational in 2024, the Thomson-East Coast Line is expected to serve approximately 500,000 commuters daily in the initial years, rising to about one million commuters in the longer term (except for Founders’ Memorial Station which will open in tandem with the memorial).

Besides enhancing connectivity between the northern, central, and eastern parts of Singapore, the Thomson-East Coast Line will strengthen the resilience of our rail network by providing alternative travel routes for commuters on other lines. As the TEL runs parallel to the North-South Line (NSL), it will also help to reduce reliance and crowdedness on the NSL.

Springleaf Station

Springleaf station is located along Upper Thomson Road, between Thong Soon Green and Springleaf Road. LTA took steps before and during the construction of Springleaf stations to minimise impact on nearby shop tenants and residents, including briefing them of the works early on.

LTA also worked closely with Singapore PowerGrid to ensure that its cable tunnel which runs through Springleaf station could be constructed without interruptions.

Lentor Station

The location of Lentor station is adjacent to the residential areas. Residents of Lentor Estate and Teacher’s Estate can soon look forward to greater accessibility to the city centre via this station.

To minimize impact to nearby residences and high-rise developments, top-down construction was adopted for the construction of the station box and entrances. Extensive studies were conducted to identify the network of utility services located within the work zone, to prevent any disruptions that could affect the neighbouring estates.

Mayflower Station

Mayflower Station is located in the mature Ang Mo Kio and Kebun Baru estate. The barrier-free entrances of Mayflower station allow commuters, especially elderly residents, to access the station easily. The station will bring rail connectivity to schools, community amenities and residential developments in the Kebun Baru estate, such as CHIJ St Nicholas Girls School, Mayflower Secondary School, Ang Mo Kio Primary School and the Kebun Baru Community Club.

As the station is situated on a sloping terrain directly underneath Ang Mo Kio Avenue 4, surrounded by densely-built residential developments, multiple stages of traffic diversion had to be implemented to facilitate the construction of the station while minimising inconvenience to the public.

Bright Hill Station

Bright Hill station is located along Sin Ming Avenue. The station’s entrance locations were chosen to serve residents of Sin Ming Garden, Faber Garden and Gardens at Bishan, as well as Ai Tong Primary School. The station provides residents and students future direct connectivity to the city centre as well as the eastern region of Singapore.

Due to the presence of hard granite around Bright Hill station, it was a challenge to install more than 1,500 secant bored piles, which were required for the Earth Retaining Stabilising Structures (ERSS) for the station before excavation work could commence.

As the area is highly urbanised, the tunnels from Bright Hill station towards its adjacent stations required tunnelling under an existing low-rise residential building. To ensure safety, enhancement work was carried out to strengthen the building’s foundation system prior to tunnelling work.

Upper Thomson Station

The station will serve the neighbouring residential estates such as Soo Chow Estate, as well as developments such as Thomson Plaza, Church of the Holy Spirit, and various dining establishments.

As the station is located directly beneath the busy Upper Thomson Road and flanked by two rows of terrace houses, traffic diversions and canal diversion adjacent to Soo Chow Estate were implemented in phases to support the various stages of construction.

To reduce inconvenience to residents and commuters, a section of the linkway underneath Upper Thomson Road to Entrance B was constructed using the pipe roof and tunnel method. This involved using a retractable micro tunnel boring machine to install circular pipes horizontally to form the ERSS before mining excavation was carried out.

Caldecott Station

Caldecott station will bring further convenience and connectivity to commuters working and residing in the Thomson Road and Toa Payoh Rise estates. This interchange with the CCL will also provide easier access to the Singapore Association of the Visually Handicapped, Lighthouse School, Mount Alvernia Hospital, St Joseph Institute International (SJII) and MacRitchie Reservoir.

To avoid impacting SJII, the mined tunnel construction method was adopted as it would not require ground excavation. It is the largest mined tunnel ever constructed in Singapore in a mixed soil condition. The station has been designed as a four-level underground station, and a total of 160,000m3 of granite was removed using the electronic blasting method.

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The prized heritage collection in prime CBD launches for sale

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Author: Ravi Philemon

Savills Singapore, as the exclusive marketing agent, said that it is proud to offer for sale The Heritage Collection, a rare and tightly held portfolio of coveted conservation graded properties strategically located within the heart of Chinatown, Central Business District

The Heritage Collection consists of a series of rare adjoining shophouses in the prime locations of Mosque Street and Pagoda Street. Salient details of the properties are as follows:

Address 42,43,44,45 Mosque Street 54,56 Pagoda Street
Description
  • Four storey conserved building with mezzanine level and full concrete floorings
  • URA Architectural Heritage Award-winning property
  • Restored and upgraded for modern use as a multi-tenant commercial building, with rare communal space and large open terrace of approximately 2,200 sq ft on 2nd storey
  • Distinctive façade with prominent frontage of 50m
  • A pair of three-storey conserved shophouses with mezzanine level
  • Located at the doorstep of Chinatown MRT Interchange Station
  • Preeminent location on pedestrianized street with extremely high footfall
Land Area (approx.) 8,804 sq ft 3,010 sq ft
Floor Area (approx.) 34,238 sq ft 9,226 sq ft
Master Plan 2019 Zoned “Commercial”

  • No Additional Buyer’s Stamp Duties (ABSD)
  • No Seller’s Stamp Duty (SSD)
  • No restriction on foreign ownership

 

The Heritage Collection

The Heritage Collection consists of a series of rare adjoining shophouses in the prime locations of Mosque Street and Pagoda Street

42, 43, 44, 45 Mosque Street

Located in the heart of historic Chinatown and just 3 minutes’ walk from Chinatown MRT Interchange Station, 42, 43, 44, 45 Mosque Street is located amongst Singapore’s most famous cultural landmarks.

The property is an architectural gem which was reinforced, restored and reconfigured in 2003. Through thoughtful restoration work, this urban landscape was rejuvenated and upgraded to ensure continued relevance and functionality with modern times, whilst carefully preserving its linkages to a rich historical past.  In recognition of the property’s beautiful and sensitive restoration which retained the inherent spirit of its original social and cultural history, the property received the Urban Redevelopment Authority’s Architectural Heritage Award in 2006.

42, 43, 44, 45 Mosque Street has a combined land area of approximately 8,804 square feet, with a gross floor area (GFA) of approximately 34,238 square feet.  In addition, there is a 2,200 square feet of open terrace space with beautiful landscape on the second floor. Strategically located in the centre of Mosque Street, the property enjoys prominent main road frontage of approximately 50 metres on a vibrant street with an eclectic mix of modern and traditional business establishments as neighbours.

The Property consists of an adjoining series of four-storey with mezzanine level shophouses, served by well-sized modern staircase access and lifts which provide convenience to upper floors. The ground floor units are currently occupied by restaurants, and the upper floors consist of 22 offices and apartment units with shared amenities such as a meeting room, gymnasium and jacuzzi.

Ms Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said: “Beautifully restored and located in the beating heart of the Chinatown district, this row of adjoining shophouses, as an award-winning commercial building, is a rare and limited asset which will be very well sought-after by astute buyers who appreciate its strong underlying value.

In terms of cultural significance, Singapore’s Chinatown is one of the first to mind for many locals and foreigners alike. It is an evergreen address that features prominently in the Government’s plans to reinforce Singapore as a global city with rich cultural offerings. The additional advantage of this property is its’ access to the Central Business District, with key financial and international companies located within a short walk away.

Given its sizeable area of over 34,000 square feet, distinctive presence and rare communal areas, this property offers an array of possibilities for buyers who wish to purchase their own corporate headquarters or flagship store with naming and signage rights. Value-added potentials such as refurbishment works to reconfigure the layout to suit an exclusive members’ club as well as coworking, coliving concepts could be explored, subject to relevant approvals.”

54, 56 Pagoda Street

Pagoda Street is arguably the preeminent address of Chinatown. Located at the doorstep of Chinatown MRT Interchange MRT station, Pagoda Street is usually the first point of entry for most people into Chinatown district. As such, it enjoys extremely high footfall around the clock. It houses a plethora of shops, food and beverage (F&B) outlets and entertainment establishments and is flanked by prominent heritage landmarks and national monuments in the vicinity, such as Chinatown Heritage Centre, Buddha Tooth Relic Temple, The Masjid Jamae (or Chulia Mosque) and Sri Mariamman Temple.

54, 56 Pagoda Street is a pair of three-storey with mezzanine level shophouses, sitting on a land area of approximately 3,010 square feet, with a total floor area of approximately 9,226 square feet. The ground floors are occupied by retail shops and the upper floors are being leased to multinational corporation tenants. This property is a mere one minute’s walk from the Chinatown MRT Interchange Station entrance. The property benefits from a fully sheltered Additional Retail Area on the pedestrianized street, licenced from the Chinatown Business Association.

Ms Yap said: “With the flurry of sales activity in the shophouse market over the past few quarters, particularly in the prime Chinatown and Central Business District, it is timely to launch the sale of this property. It presents a rare opportunity to acquire a pair of shophouses with strong catchment and tenant covenant. With its excellent attribute, we expect strong interest from investors such as family offices, high-net-worth individuals and boutique real estate funds.”

Some of the notable transactions along the street include 31 Pagoda Street at $16.25 million ($4,779 per square foot) in October 2019, 76 Pagoda Street which was sold for $13.3 million ($3,500 per square foot) in July 2019, and 39 Pagoda Street which sold for $12.2 million ($3,700 per square foot) in May 2017.

The Heritage Collection Portfolio

As the properties sit on land zoned for ‘Commercial’ use, foreigners and companies are eligible to purchase the properties. There is no Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD) payable.

“The indicative guide price for the entire portfolio of properties at Mosque Street and Pagoda Street is $141 million. This portfolio of shophouses are held under a Special Purpose Vehicle (SPV) company and there will be savings on the Stamp Duty on the purchase of the company for the entire portfolio.”, added Ms Yap.

The EOI exercise for The Heritage Collection will close at 3pm on Thursday, 5 March 2020.

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