JLL Scores with S$475M Singapore Hotel Deal to Lead Asia Brokerage Wins  Mingtiandi Broker Battle

JLL heads up this week’s edition of Mingtiandi’s roundup of brokerage wins as the property consultancy firm’s Hotels & Hospitality Group hits home in Singapore with the S$475 million ($348 million) sale of the Hyatt-operated Andaz Hotel.

ERA Realty scored a victory in Singapore’s posh Belmont Road neighbourhood, acting as marketing agent for a luxury home that was snapped up for S$18.6 million, reportedly by the daughter of Wing Tai Holdings’ chairman Cheng Wai Keung.

In mainland China, JLL advised Logos Property on the acquisition of a 911,768 square foot (84,706 square metre) warehouse development.

The Hong Kong is still quiet after a collapse in non-residential transaction volumes of 57 percent in July and August, according to Savills. JLL managed one of the few noteworthy new appointments in the city during the last few weeks when it was selected to sell a floor of the Euro Trade Centre in Hong Kong on behalf of a Japanese securities firm.

Keep reading for all the details on which brokerages won deals this month, and if your team has capital markets or leasing victories to report, please contact us here at Mingtiandi.

Singapore

JLL’s Hotels & Hospitality Group brokered the S$475 million sale of the Andaz Singapore, acting on behalf of M+S Pte Ltd, a 60:40 joint venture between Khazanah Nasional Berhad and Temasek Holdings. Local developer Hoi Hup Realty paid S$475 million for the 342-room luxury hotel in the rejuvenated in what ranks as the largest ever purchase of a single hotel asset in Singapore. Read more>>

ERA Realty acted as the marketing agent on the sale by private treaty of a Good Class Bungalow at 5 Belmont Road, more than two years after it was first put on the market. Located on a 16,329 square plot in posh Cornwall Gardens, the buyer paid S$18.6 million for the property, or S$1,139 per square foot. According to a source cited by Edgeprop, the new owner is Carol Cheng, the daughter of Wing Tai Holdings chairman Cheng Wai Keung. Read more>> 

Cushman & Wakefield has been appointed as the marketing agent to re-launch the collective sale of the six-storey shopping mall Bugis Cube after a tender in May received no bids. Zoned for commercial use, the property at 470 North Bridge Road in the Bras Basah area sits on a 999-year leasehold site with a plot ratio of 4.2 and a six-storey height restriction. The cube-shaped retail centre has an asking price of S$230 million, or S$3,452 per square foot based on the existing gross floor area of 66,614 square feet. Read more>>

CBRE has been appointed to broker the sale of a two-storey Good Class Bungalow at 40 Nassim Road, which was formerly the home of the Saudi Arabian embassy. Said to currently be owned by a high net worth individual, the property has an asking price of S$175 million, or around S$2,977 per square foot based on the total land area of 58,784 square feet. Read more>>

Knight Frank has been appointed by an unnamed trust company to broker the sale, either collectively or individually, of a portfolio of three freehold shophouses in District 1, a waterfront section of Singapore that contains Raffles Place and much of the city’s downtown core. Of the three properties, the 3,198 square foot 151 Telok Ayer Street has an asking price of S$12 million, as does the 3,265 square foot property at 14 Stanley Street. The third shophouse at 8 Smith Street, which has a GFA of 3,559 square feet, is expected to fetch S$7 million. Read more>>

Knight Frank has been appointed as the marketing agent for the sale of a two-storey Good Class Bungalow at 18A Yarwood Avenue in District 21, ten minutes’ walk from King Albert Park MRT. The five-bedroom property with a landscaped garden and koi fish pond has an asking price of S$23 million or S$1,216 per square foot based on a land area of 18,911 square feet. Read more>>

Knight Frank has been appointed as the exclusive marketing agent for the sale of the Hotel Compass at 36 Lorong 22 Geylang. The 49-room red-light district hotel, which has a gross floor area of approximately 16,000 square feet, has an asking price of between S$23 million and S$25 million. Read More>>

Hong Kong

JLL has been appointed to broker the sale of the sixth floor in the Euro Trade Centre at 13-14 Connaught Road in Central, acting on behalf of Japanese securities brokerage Okachi Hong Kong, according to local media. The 20-storey property has an asking price of HK$200 million ($26 million), or around HK$ 38,000 per square foot based on a gross floor area of 5,261 square feet. Read more>>

Savills and Knight Frank have been appointed by Vantage International Holdings as joint sole sales agents for the en-bloc sale of Belfran Peak, a 21-storey luxury residential property comprising six duplex units and one triplex unit. Located at 8 Belfran Road in Ho Man Tin in Kowloon, the building has an asking price of HK$560 million, or HK$19,497 per square foot based on the property’s 28,722 square feet of gross floor area. Read more>>

Mainland China

JLL advised on Logos Property’s acquisition of a warehouse development in the Zhejiang provincial city of Shaoxing. Located at the intersection of Nanbin West Road and Pinchou Road, the double-storey ramp facility will have a gross floor area of 84,706 square metres and is expected to be delivered in January 2021. Read more>>

Savills has been appointed by state-owned Guangdong Land Holdings to provide project positioning consultancy services for the Yinping Innovation Zone, a 17 square kilometre industrial zone being developed jointly by the Dongguan government and Guangdong Land Holdings. Since 2014, logistics specialist Prologis has developed two facilities in the area, providing a combined 2.5 million square feet of warehouse space. Read more>>

Savills has been appointed to provide project development planning services for the the Dongguan Songshan Lake Neutron Science City, a technology research centre in Dongguan. Located between the Songshan Lake and Dalang in the Guangdong province, the first phase of the 53 kilometre square development zone is the Songshan Lake Material Laboratory, which is expected to be completed at the end of next year. Read more>>

Research for this story was provided by Li Yanxia and Iris Poon. Mingtiandi’s Broker Battle series is published twice monthly on Tuesdays.