Savills Singapore and CBRE Singapore announced on 16 September that they have been appointed as the exclusive joint marketing agents for the sale of Hexacube portfolio of 22 commercial freehold units. The portfolio of 22 retail and F&B units at HEXACUBE – a freehold corner development located with prominent frontage along Changi Road.
Commanding approximately 70 metres of prominent dual road frontage onto Changi Road and Lorong 105 Changi Road, Hexacube is strategically located in an established and affluent residential enclave, comprising predominantly landed houses and private residential developments with ready catchment. Some of the notable upcoming private residential developments in the immediate vicinity include Parc Esta with approximately 1,399 units.
The sale offering comprises twenty-two commercial units on the ground floor, second floor and basement level. The total strata area for the Hexacube portfolio of 22 commercial freehold units is approximately 13,466 sq ft and approx. 3,025 sq ft space is approved as Restaurant / F&B units.
The guide price for the Hexacube portfolio of 22 commercial freehold units is in excess of $43.8 million, approximately $3,253 per square foot.
The Hexacube portfolio of 22 commercial freehold units is approved as ‘Commercial’ with no additional buyer’s stamp duty or seller’s stamp duty imposed.
Mr Galven Tan, Deputy Managing Director, Investment Sales and Capital Markets, Savills Singapore, said: “This is a valued opportunity for purchasers to acquire a sizeable commercial space in an exciting and fast-growing precinct. Pedestrian traffic flow is expected to further increase in 2022 with the completion of 1,399 units Parc Esta, bringing additional demand for retail businesses in Hexacube.”
Galven added “The stretch of Changi Road is an established F&B enclave, with other F&B outlets from the food courts, coffeeshops and restaurants that have been there for decades.”
Mr Michael Tay, Head of Capital Markets at CBRE Singapore, said: “Retailers have been adapting to the new normal, and getting creative in their offerings and choice of location. In particular, retail space located in the sub-urban and city-fringe areas such as Hexacube’s, have been highly sought after and have shown resilience – even through this challenging time – due to the domestic market they cater to.”
Michael continued: “At S$3,253 per sq ft, the units are considered affordable given its freehold tenure and strategic location at the city fringe. What’s more, there is a ready catchment of the office crowd within Hexacube, residential population in the vicinity and students from the schools nearby. The current tenancies at select units will appeal to investors who are seeking an income-producing asset at a palatable quantum. We are optimistic that the flexibility in being able to acquire the units individually or collectively, depending on interested buyers’ business needs, will be a draw as well.”
The EOI for the Hexacube portfolio of 22 commercial freehold units exercise will close at 3pm on Tuesday, 20 October 2020.
Hexacube is located just a ﬁve-minute from Eunos MRT station, it is as close to the heart of the action as you will get. It is conveniently accessible via the PIE, KPE, with short drive away to Changi International Airport. It is one of its kinds of property that people desire to have.
Hexacube has a modern and beautiful commercial that is designed by reputable and many awards winner architect (BCI Asia Top 10 Architects), DP Architect who designed Commercial offices of Square2, Mandarin Gallery, 112 Katong and many more. It was jointly developed by Wealth Development of Lian Being Group, KSH Holdings and TEE international. Lian Beng in particular, has a good record for development. The developer was established in 1973, and listed as a Group on the Main Board of the Singapore Exchange in 1999. Other projects developed by Lian Beng includes Oxley Tower, Centro, The Midtown and others.
Mr Paul Ho, chief mortgage officer at iCompareLoan, said: ” the Hexacube is a perfect place for work and relaxation. One that allows you a quick reprieve so that you can return to work refreshed and re-energised. In place are common areas with landscaping for a break with colleagues, meeting customers or a coffee and a hot meal to recharge. Here all your needs will be well taken care of right under the same roof.”
He added: “Each unit is modularly designed and comes with high ceiling and windows providing quality ventilation and adequate lightings. With a workspace that is just as flexible, the freedom of configuring a layout that caters to your business operations while enjoying a privileged lifestyle as you work.”
Hexacube @ Changi Road Factsheet
|Location||160 Changi Road, Singapore|
|Developer||Wealth Development Pte Ltd|
|Total Units|| 32 Shops, 4 Restaurants, 37 Offices
Basement 1 – 10
|No of units||73|
|Carpark Lots||24 lots and 1 handicap lot, 2 loading bay|
|Developer||Wealth Development Pte Ltd|
|Tenure||Estate in Fee Simple – (Freehold)|
|Date of Vacant Possession||30 June 2017|
|Date of Legal Possession||30 June 2020|
|Site Area||1669.8 sqM|
|Main Contractor||Paul Y Construction|
|Structural Engineer||KCL Consultants Pte Ltd|
|M&E Consultant||Northcroft Lim Consultants Pte Ltd|
|Solicitor||Patricia Quah & Co|
|Floor to Floor Height||Basement 1 Retail: 2.3m – 3.8m (Approximate)
Level 1 Retail: 2.35m – 4.7m (Approximate)
Level 2 Retail: 2.6m – 4.1m (Approximate)
Level 3 – 5 Office: 5.0m (Approximate)
|Number of lifts||2|
|Common area facilities||– Carpark at Basement 2
– Loading and Unloading Bay
– 2 Lifts
– Courtyard Garden at Level 3
Hexacube Units Mix
|Type||Size (sqft)||No of Units|
|Office with Attic||807- 1625||9|
- Within leisure stroll to Eunos MRT station and bus Interchange.
- Strategic Location between Changi Business Hub and Paya Lebar Commercial Hub.
- Rare Freehold commercial development in the East region.
- Foreigners eligible.
- Each unit features a high ceiling (at least 5 m tall from floor to ceiling).
- No Additional Buyer Stamp Duty (ABSD) and Seller Stamp Duty (SSD).