Archive for category: Misc

The iconic Crown Centre, located at 557 Bukit Timah Road, is a highly sought-after mixed-use development in District 10. Comprising strata retail and office space on the first two levels, and apartments above, it is situated in a prime location surrounded by upscale landed housing.“This island site boasts prime frontages along Bukit Timah Road, King’s Road and Queens Road,” says Sammi Lim, founder and executive director of Brilliance Capital.For the first time in 13 years, a portfolio of 16 strata retail units on the ground floor has been put up for sale through an expression of interest (EOI) by Brilliance Capital, the exclusive marketing agency. The EOI will close on September 23, 2025.Read also: Daughter of UOL Group CEO buys unit at UpperHouse, Orchard BoulevardAdvertisementThe portfolio has a guide price of $33.8 million, translating to $5,688 psf based on the total strata area of 5,942 sq ft.Crown Centre has outstanding frontages along Bukit Timah Road, Queen’s Road, and King’s Road (All photos by Samuel Isaac Chua/EdgeProp Singapore)’Single largest owner’According to Lim, the acquisition of this portfolio would make the buyer the single largest owner in Crown Centre.The units are fully tenanted by a diverse range of tenants, including fast food chains such as Domino’s Pizza, Popeyes, and Pizza Hut, as well as enrichment centres like PBL Academy, The Pique Lab, and Kelly Academy Chinese Tuition. Other services include Hi-Tech dry cleaning and laundry, Kiyo pet groomers, and Eliza hair studio.The units are fully tenanted, with dining options including Popeyes, Pizza Hut and Domino’s PizzaEnrichment centres include Kelly’s Academy, PBL Academy, and The Pique LabHair salonPet groomersDry cleaners and other laundry servicesLim notes that this investment offers a steady stream of rental income. It also gives the buyer significant influence over the property’s long-term management and strategic direction, especially in the case of a collective sale, as the portfolio makes up about 30.5% of the development’s share value.The seller, Best Reward, is a part of Far East Flora Holdings, which is a major wholesaler and retailer of flowers, plants, and accessories, with operations in Singapore, Hong Kong, Malaysia, and online. The group also specialises in interior landscaping through its O2Plants division.The various tenants on the ground floor of Crown Centre (Source: EdgeProp Inspector)Best Reward acquired all 19 ground-floor units in November 2013 in a deal arranged by CBRE. During the time of purchase, the units made up 39.7% of the total share value. The units were put up for sale the previous year (November 2012) with an indicative price of $32 million ($4,000 psf). However, the final purchase price was not disclosed.In recent years, the company sold two small internal units on the first level, #01-08 (323 sq ft) in 2018 and #01-09 (215 sq ft) towards the end of 2024. The latter sold for about $920,000 ($4,274 psf) in a deal arranged by Lim.Read also: UOL-SingLand sells almost 54% of units at UpperHouse at Orchard Boulevard during launch at $3,350 psfAdvertisementThe largest unit on the ground floor, #01-03 at 1,245 sq ft, is not part of the current portfolio for sale. The unit was leased for a decade by Crown Bakery and is currently occupied by Italian restaurant Burrata Joy & Gustavo Lapasta Bukit Timah.The Assembly Place operates the walk-up apartments at the three blocks on Duke’s Road and Bukit Timah Road as co-living spaces and manages the ground-floor shops, which are currently tenanted.Rising demand for prime, freehold assetsLim points to the growing demand for commercial properties with prominent street frontage and refers to the 2021 sale of seven ground-floor strata retail units at Holland Road Shopping Centre. These units are now tenanted by CS Fresh supermarket. The sale of these units included the basement car park. Lim brokered the sale of the ground-floor units to the family of Macau property tycoon Loi Keong Kuong in 2016 for more than $61 million ($4,976 psf), based on a strata area of 12,260 sq ft.Nearby, three adjoining freehold blocks at 551-553 Bukit Timah Road and 6-8 Duke’s Road were sold en bloc to Hillcrest Investments, an affiliate of Indonesian billionaire Sukanto Tanoto’s Royal Golden Eagle, in December 2021. The purchase price of $53.9 million was equivalent to $1,504 psf per plot ratio based on a 3.0 gross plot ratio and an assumed 60:40 residential-to-commercial split, according to JLL, which brokered the deal.Rather than redeveloping the area, RGE has engaged The Assembly Place to operate the walk-up apartments as co-living spaces and manage the ground-floor shops, which are now fully tenanted.At Coronation Shopping Plaza, a freehold mixed-use development along Bukit Timah Road, a 377 sq ft, third-level strata retail unit changed hands for $1.795 million ($4,765 psf) in December 2024Crown Centre also has a gross plot ratio of 3.0, assuming redevelopment into a mixed-use project with a 60:40 residential-to-commercial ratio. The most recent transaction at Crown Centre, based on caveats lodged, took place in November 2021, when two adjoining second-level units that totalled 807 sq ft sold for $2.55 million ($3,159 psf).At nearby Coronation Shopping Plaza, a 377 sq ft, third-level strata retail unit sold for $1.795 million ($4,765 psf) in December 2024. Built-in 1979, the development comprises strata retail and office units as well as apartments.Read also: Project Spotlight: Ardmore Park tops the resale price chartAdvertisementNearby is King’s Arcade, another freehold mixed-use development completed in 2002. The four-storey block comprises 14 apartments on the upper floors and three shop units on the ground floor. The last recorded transaction for a shop unit there was in 2010 when a 2,379 sq ft unit sold for $3 million ($1,261 psf), based on caveats lodged.The last recorded transaction of a shop unit on the ground floor of King’s Arcade took place in 2010, when a 2,379 sq ft unit changed hands for $3 million ($1,261 psf)Connectivity, foot trafficLim notes that commercial properties in Bukit Timah are highly sought after because of their prime location in District 10, the proximity to MRT stations such as Botanic Gardens (an interchange for the Downtown and Circle Lines) and Tan Kah Kee (Downtown Line), and ease of connectivity via the Pan-Island and Bukit Timah Expressways. These factors contribute to the strong rental performance and steady demand, making the area attractive to retail investors.In addition to being situated in an affluent residential area, Crown Centre is close to prestigious schools such as Nanyang Primary School, Raffles Girls’ Primary School, Hwa Chong Institution, and National Junior College. This strategic location ensures a high stream of foot traffic of high quality, ‘spending’ customers, notes Lim.Artist’s impression of the Bukit Timah Turf City development, which is expected to deliver 15,000 to 20,000 new homes alongside green corridors, cycling paths, and community amenities (Source: URA Master Plan)Combined with limited retail competition in the neighbourhood, it supports consistently high occupancy rates and resilience in rental yields – factors that increase the appeal of Crown Centre as an investment, as per Lim.Future growth prospects are also favourable, she adds. The Bukit Timah Turf City redevelopment is expected to deliver 15,000 to 20,000 new homes alongside green corridors, cycling paths, and community amenities. “The transformation will likely increase the demand for retail and F&B offerings at Crown Centre,” Lim reckons, “contributing to its investment potential.” Check out the latest listings for Crown Centre propertiesAsk BuddyCompare price trend of Commercial vs Industrial propertiesPast Commercial rental transactionsPrice trend for commercial property salesPast Commercial sale transactionsCompare price trend of Commercial vs Industrial propertiesCompare price trend of Commercial vs Industrial propertiesPast Commercial rental transactionsPrice trend for commercial property salesPast Commercial sale transactionsCompare price trend of Commercial vs Industrial properties

Crown Centre, located at 557 Bukit Timah Road, is a highly desirable mixed-use development consisting of strata retail and office units on the first two levels, and residential apartments on the upper levels. The freehold property, situated in District 10, is surrounded by upscale landed housing.

The upcoming development, Miltonia Close EC, is set to provide residents with top-notch condominium amenities such as a clubhouse, lap pool, children’s playground, fitness areas, barbecue pavilions, and beautifully landscaped gardens. There will be a variety of unit types available, ranging from two-bedroom compact units ideal for young couples to larger four-bedroom layouts suitable for multi-generational families. For added flexibility, dual-key options may also be included, allowing for extended families or potential rental income. As per government regulations for executive condominiums, buyers can anticipate significant price discounts compared to neighboring private condominiums, particularly during the launch phase. To add to the appeal, interested buyers may visit the Miltonia Close EC website for more information.

According to Sammi Lim, founder and executive director of Brilliance Capital, “It’s an island site, with prominent frontages along Bukit Timah Road, King’s Road and Queens Road.”

For the first time in 13 years, a portfolio of 16 strata retail units on the ground floor has been released for sale through expression of interest (EOI) by Brilliance Capital, the exclusive marketing agency. The EOI will close on September 23.

The portfolio is being offered at a guide price of $33.8 million, which translates to $5,688 per square foot (psf) based on the total strata area of 5,942