All posts by singaporecommercialguru

SOHO @ Central

SOHO @ CentralCentral is an upcoming landmark development located above the Clarke Quay MRT station within the Central Business District.

Pioneering a new live, work, play concept, SOHO at Central, comprising two towers with a total of 227 Small Office Home Office units, has captured the imagination of the Singapore and regional markets. Ninety per cent of the 115 units released have been sold ahead of an official launch campaign in Singapore.

The development’s popularity can be attributed to its much sought-after combination of compact spaces in a high-class development with excellent transportation connectivity. It also has the added attraction of a scenic location by the historic Singapore River.

Developer: Far East Organisation
Location: Eu Tong Sen Street (District 1)
Tenure: 99 years
Year of Completion: 2007
Total Units: 227
Type of Unit: 1 bedroom (581–872 sqft)
Facilities:

  • Lap pool
  • Jacuzzi
  • Gym
  • Outdoor spa
  • Sky gardens
  • Covered car park

An Attractive Investment

Central’s unique location by the historic Singapore River on top of the Clarke Quay MRT station places the development at the heart of a fast-growing market within the city. Says Ms Soon Su Lin, Executive Director of CB Richard Ellis, “SOHO at Central should achieve higher rental rates than standard office space as there is no other new office building above an MRT in the city with units of 600 sq ft. In addition, it has the flexibility for residential use. We believe that a net yield of six per cent is achievable for these SOHO units as compared with the four per cent return from typical strata-titled office units.”

SOHO at Central with most of its units in the 635 sq ft size range, offers a very attractive investment option for investors and owner-occupiers alike. About half of the buyers are investors, the rest are business occupiers in professional fields. Over 50 per cent of the buyers are foreigners from China, Hong Kong, Indonesia, Japan, Malaysia and Taiwan, the balance are Singaporeans.

A Revolutionary Lifestyle

SOHO at Central presents the only purpose-built home offices in Singapore. The development offers a prestigious business address with full flexibility in commercial usage. Each unit comes with quality home finishes, fully-fitted bathroom and a compact kitchenette. Owners can use the units for the dual functions of office and residential living or for the exclusive use of either purpose without the need for additional approvals from the authorities.

Each unit’s innovative workspace can be turned into cosy living spaces instantly. The high four-and-a-half metre floor-to-floor height coupled with column free space give 40 per cent more volume compared with that of a similarly sized typical office unit. Owners have full flexibility to maximise this voluminous usable space through the use of creative interior design ideas and layout planning.

Central is the first development in Singapore to integrate the diverse functions of real estate – habitation, lifestyle, business, community and transportation connectivity – within one complex. Designed for a population of 10,000 occupants, it will have two towers of SOHO units, a 25-storey office tower, a retail podium with riverfront F&B outlets, a sky garden and recreational facilities, full public amenities and a community hub.

Seamless Connectivity

The epicentre of a thriving community, Central is surrounded by an educational enclave comprising the new city campuses of Singapore Management University, LaSalle–SIA College of the Arts, and other private educational institutions in the Selegie and Bras Basah areas. An estimated 40,000 students and teaching academia, including 10,000 foreign students whom Singapore expects to attract, will study and work in the vicinity of Central.

About one kilometre away are major banking institutions in the Central Business District with a working population of 50,000. Along the Singapore River, there will be 25,000 residents living inupmarket homes. Currently, this area is popular with expatriates from Indonesia and Japan.

Central is seamlessly connected to historic Chinatown, the civic district, the arts and cultural district made up of museums, galleries and the Esplanade, as well as the entertainment belt of Clarke Quay, Boat Quay, Mohammad Sultan Road and The Fullerton Singapore.

When completed, Central is set to invigorate the landmark Singapore River by infusing a new vibrancy into the area treasured for its rich historical background and architectural and business heritage. It is a key node that will contribute to making Singapore’s city centre more distinctive and memorable.

Contact us at info@lushhomemedia.com or +65 9631 8037 for more information.

Singapore Office Space Rental Procedures

Letter of Offer 

On agreeing heads of terms the landlord will normally issue a Letter of Offer which outlines the general terms upon which the agreement is based. Often this is accompanied with a copy of a draft standard lease. The landlords usually give 1 week to 10 days for the tenant to sign the Letter of Offer and return together with an initial deposit of 1 months rental. 

Lease Documentation / Security Deposit 

Before the tenant signs a Letter of Offer and pays over the initial 1 months rental deposit (sometimes landlords ask for 3 months) he/she should be happy with the terms of the offer and be reasonably comfortable with the draft lease. This is because the deposit is normally non-refundable.  

Whilst it is not intended that all the terms and terminology of the lease are finalized at this stage, the tenant should be satisfied there are no major obstacles in the lease before signing the Letter of Offer. 

After signing the Letter of Offer tenants as usually given one month to finalize the drafting of the lease. Many landlords in Singapore will have their own standard lease documentation which they will not want to vary too much. Therefore major changes are unlikely and we always recommend all tenants to use local lawyers familiar with landlord and tenant legislation in Singapore. 

Taking Possession  

Before taking possession the tenant must have signed the lease and paid the remainder of the deposit monies and one months rent in advance i.e. four months rent in total. 

For more information, email lushhome@gmail.com

Southbank

SouthbankRevel in the adventure of surprises and options right at your doorstep. Located in the inner city, indulge in a lifestyle that has never been so perfectly complemented with relaxed waterfront living.

Get into the Central Business District with just 3 stops away from Lavender MRT Station and minutes drive away to tee off at the future Marina Bay Golf Course. Southbank is also conveniently located next to the Nicoll Highway and near to East Coast Parkway. Being just next to the Kallang Basin and having a seamless connection to Marina Promenade, expect infinite excitement and fun-filled weekends with roller blading, cycling or kayaking by the river.

Standing tall at 40 storeys, Southbank comprises 194 residential apartments, 3 penthouses and 60 SOHO units complete with 16 retail outlets. Southbank also offers picturesque and breathtaking panoramic views of Kallang Basin, Tanjong Rhu and the city.

Developer: Kings & Queens Development Pte Ltd
Location: North Bridge Road (District 7)
Total Units: 257
Expected Completion Date: 2010
Tenure: 99 years w.e.f 27/6/2006

Type of Units:

  • Residential
    • 1 room (54 units) 592-614 sqft
    • 2 rooms (112 units) 904-969 sqft
    • 3 rooms (28 units) 1313 sqft
    • 4 room penthouses (3 units) 3251-4155 sqft
  • SOHO
    • Single storey (25 units) 463-915 sqft
    • Duplex (30 units) 883-1593 sqft
    • Duplex with roof garden (5 units) 883-1593 sqft
  • Retail (16 units)

Facilities:

  • 40m Lap Pool
  • Children’s Pool
  • Spa Pool
  • Reflective Pond
  • Water Feature Walls
  • Changing / Shower Rooms
  • Steam Rooms
  • BBQ
  • Gymnasium
  • Function Room
  • Sun Lawn
  • Sun Deck
  • Courtyard Garden
  • Children’s Playground

Living in the inner city, Southbank is close to the buzz of endless entertainment in Bugis Junction, Suntec City and the Marina Centre.

Contact us at info@lushhomemedia.com or +65 9631 8037 for your rental or sales needs.