Bookmark & Share
The on-going transformation of Singapore’s northern corridor is proving to be attractive to companies looking to move into Woodlands, with Far East Organization (FEO) securing sales for half of the 124 office units it has released since the preview of its project Woods Square.
Including those already sold, the development by the FEO-led joint venture offers 365 offices units and 101 small-office-loft-office (SOLO) units for sale, with sizes ranging from 549 sq ft to 5,339 sq ft and from 495 sq ft to 1,808 st ft, respectively. Both office types are priced from S$1,700 to S$ 2,230 per sq ft. Listed prices for a 506 sq ft SOLO unit start from $970,000.
According to FEO, corporate buyers account for 65 percent of the preview sales that started in end-Jul.
“Most of the buyers are SMEs (small- and medium-sized enterprises) located within the Woodlands area,” said FEO chief operating officer for Property Sales Business. “They see the benefit of having a separate office close to their manufacturing operations.”
Set to be completed in 2021, Woods Square will offer two office towers and two towers of SOLO units.
FEO will take up 70,000 sq ft of space spread across over three storeys within the integrated development’s Tower 2, which has been set aside for lease. It will be the first time the property developer’s satellite operation will be under one development.
According to FEO, the move underscores the company “belief in the Woodlands Regional Centre as an up and coming vibrant live-work-play business hub.”
In the National Day Rally earlier this month, the government reiterated its plans of turning Woodlands Regional Centre as the city-state’s “northern gateway,” which will feature business spaces, housing and waterfront park.
Offering approximately 100ha of available land for development, Woodlands Regional Centre has more than 7 million sq ft of commercial space planned, with Woods Square being the first major commercial development rising in the area in the near term.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Articles:
CapitaLand rolls out e-waste recycling bins at its malls
Industrial units at Ruby Warehouse Complex up for sale
Online and offline retailing to merge further in Southeast Asia