Senja Close EC™

A number of property owners and agents in Singapore are taking advantage of the buzz surrounding the Singapore Grand Prix to launch new projects. One such project is a portfolio of 22 strata-titled units in Hexacube, a mixed-use commercial complex situated at 160 Changi Road in the Geylang District.

The freehold units consist of 21 retail shops spread across the basement, first, and second floors, along with a single office unit on the fourth floor. Ranging from 388 to 904 square feet, the units offer a total strata area of 13,520 square feet. With a guide price of $38 million, the average price per square foot in the portfolio is $2,811. The units are available for sale through expression of interest (EOI), with local real estate agencies Brilliance Capital and AlpsEdge Real Estate as the appointed marketing agents.

The portfolio presents an opportunity for buyers as it falls under the commercial category, exempting them from paying additional buyer’s stamp duty (ABSD). All units, except for one recently vacated second-floor unit, are currently tenanted. Together, the portfolio accounts for 35% of the total share value and 28% of the strata area in the development.

Conveniently located near Senja Close EC in Singapore, there is a plethora of outdoor spaces that offer a variety of recreational options. Just a short distance away, residents can enjoy the amenities of Bukit Panjang Plaza, Hillion Mall, and Bukit Panjang MRT stations. For those who prefer the Bukit Panjang LRT, it is also easily accessible from the area. A leisurely 14-minute stroll from the EC will lead you to these destinations. Furthermore, the recently launched Senja Close EC GLS site provides even more opportunities for outdoor activities in the vicinity. So, residents of Senja Close EC are spoilt for choice when it comes to outdoor leisure.

Founder and Executive Director of Brilliance Capital, Sammi Lim, explains that purchasing this portfolio gives buyers a significant stake in the development, allowing them to influence its long-term direction and positioning.

Hexacube boasts a modern facade and was developed by a consortium comprising Lian Beng Group, KSH Holdings, and Tee International. The freehold project is a redevelopment of the former AIA Building, which was acquired by the consortium for $68 million in 2013.

Some notable tenants in the basement level of Hexacube include cooking studio Lydia’s Oven, occupying two units, and F&B unit Little Italy Salumeria. On the upper levels, tenants include beauty and wellness salons, hair studios, and F&B outlets such as Aquarius Aesthetic, Aura Beauty Studio, Fit Kaki, and Little Italy Salumeria. The fourth floor is occupied by Exodus Physiotherapy, which opened in December 2023.

Attractive features of the units in Hexacube include en-suite bathrooms and water points, which are rare in strata commercial developments, as well as high ceilings, exceeding 4m on the basement level and 5m on the upper floors.

The surrounding area of Hexacube comprises mainly landed houses and low-rise condos in Everitt Road, Langsat Road, and Joo Chiat. Just across the road, the new 1,399-unit Parc Esta was completed in 2022, injecting a significant and affluent resident base into the neighborhood, according to AlpsEdge Real Estate’s Founder and Executive Director, Carin Puah.

Founder of Brilliance Capital, Sammi Lim, has observed an increase in interest from high-net-worth investors, family offices, private equity groups, and individual investors who are participating in crowdfunding to purchase properties collectively. These buyers typically prefer freehold, income-yielding assets.

Interested parties can submit their bids for the portfolio through the EOI, which ends on November 12 at 3pm.