Bookmark & Share
by Cheryl Tay
Bugis Cube (pictured) drew strong interest from investors and retailers, selling 77 of its 91 launched units, which averaged 355.2 sq ft, according to Mary Sai, Executive Director at Knight Frank.
Meanwhile, the 14 remaining units, which have an average area of 290.6 sq ft to 355.2 sq ft, are located in the second and third storeys.
Offering six floors of F&B and retail space, Bugis Cube is located opposite Bugis Junction and near the Bugis MRT Station. The units range in size between 129 sq ft and 635 sq ft, and are priced from S$2,900 psf to S$7,500 psf.
Each shop will come equipped with a water point, while F&B outlets will each get a grease trap. Griffin Real Estate Investment Holdings, a unit of ERC Holdings, owns 92 percent of the development.
Sai noted that the project received encouraging response from retailers and investors alike during the preview phase.
More investors have turned to commercial properties after the government imposed cooling measures on the residential market. A total of 611 transactions of strata retail units (S$656 million) were recorded last year, compared to 543 deals (S$608.12 million) in 2010.
For Q1 2012, 208 transactions have been recorded so far, totalling S$156.7 million.
Related Stories:
Bedok Town Centre in for makeover