23 Jan '14, 4am

Savills mandated on bulk sale of freehold apartments at Newton Imperial:

Savills has been mandated on the bulk sale of 21 freehold apartment units at Newton Imperial, 24 Newton Road, totalling 38,201 sq ft. Newton Imperial comprises of 36 high end apartment units, each unit coming with its own private lift lobby. Two layouts are available within the development with eleven 1,711 sq ft apartments and ten 1,938 sq ft apartments available for sale. Arun Sugumaran, Senior Manager Savills Regional Capital Markets said, “Newton Imperial presents a rare opportunity to acquire freehold apartment units in District 11 at an attractive price point. Despite the current cooling measures in place, such as the 15% Additional Buyer’s Stamp Duty, gross yields between 3.0% to 3.25% are still achievable for this project as a result of its attractive price point. This gives investors something to think about as current commercial yields are at compressed levels pa...

Full article: http://www.savills.com.sg/_news/newsitem.aspx?intSitePage...

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