Guoco Midtown

1993newbie

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Kaypo-ed past months rental for CCR studios/1 bedders. Realise gross yield for DUO is better as compared to high Quantum MOR.

Duo > Rental $2700-4800, $1.06 - 1.2mil quantum.
Marina One > Rental $3000-5100, $1.4-$1.8mil quantum.
 

daheigou999

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Kaypo-ed past months rental for CCR studios/1 bedders. Realise gross yield for DUO is better as compared to high Quantum MOR.

Duo > Rental $2700-4800, $1.06 - 1.2mil quantum.
Marina One > Rental $3000-5100, $1.4-$1.8mil quantum.

Vacancy rate has been building up in MOR :o
 

daheigou999

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Quick search on Prop guru, MARINA ONE
344 rental listings. 159 of which are One bedder listings.
One bedder asking price from $3200/month.

Past 1 year, 222 rental volume. Total number of units 1042.
https://www.squarefoot.com.sg/market-watch/rental-yield

(Thinking out loud - experts pls correct me)

Out of 222 rentals last year, would 60% of them be 1BR (say 130 units)? Perhaps, some of these are renewals on existing lease so the net new demand is lower

With 159 listings (minus duplicates), this means it’ll take over a year to fill the 130 unit p.a. demand in a pre-COVID world? :o
 

saintgtril

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https://www.edgeprop.sg/property-news/guocoland-reports-revenue-increase-2-y-o-y-9418-mil

Quoted:
As at June 30, 2020, committed occupancies of the office spaces at Guoco Tower and 20 Collyer Quay were 99% and 95% respectively. Both properties enjoyed positive rental reversions for new and renewed leases in FY2020.

About 20% of the units at Meyer Mansion and Midtown Bay have already been sold.
Unquoted:


I am surprise during this COVID situation, the office occupancies are almost filled. My guess is these contracts could be signed prior to COVID.

Most importantly, there is no motivation for Guocoland to reduce the price of Midtown Bay. Duo will probably maintain the same price. For the M, Wingtai might be?motivated to increase the price of the M. Any thoughts or views?
 

daheigou999

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https://www.edgeprop.sg/property-news/guocoland-reports-revenue-increase-2-y-o-y-9418-mil

Quoted:
As at June 30, 2020, committed occupancies of the office spaces at Guoco Tower and 20 Collyer Quay were 99% and 95% respectively. Both properties enjoyed positive rental reversions for new and renewed leases in FY2020.

About 20% of the units at Meyer Mansion and Midtown Bay have already been sold.
Unquoted:


I am surprise during this COVID situation, the office occupancies are almost filled. My guess is these contracts could be signed prior to COVID.

Most importantly, there is no motivation for Guocoland to reduce the price of Midtown Bay. Duo will probably maintain the same price. For the M, Wingtai might be?motivated to increase the price of the M. Any thoughts or views?

M is reverting some units back to launch price. They probably need the cash to plug their suffering retail business (e.g. G2000)
 

Passerboy

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M is reverting some units back to launch price. They probably need the cash to plug their suffering retail business (e.g. G2000)

Wingtai got themselves a very prime site but looks like they do not fully utilize the site to its fullest potential. The site can set the next landscape for Singapore though like how South Beach Residences is.
 

urbanmale2004

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Wingtai got themselves a very prime site but looks like they do not fully utilize the site to its fullest potential. The site can set the next landscape for Singapore though like how South Beach Residences is.
Agree , such a wasted opportunity for the M to develop something so mass market and conventional at such a prominent site. Im sure if Capitaland or CDL or UOL who wins the same site, it will be some marvellous product for sure.
 
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daheigou999

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Wingtai got themselves a very prime site but looks like they do not fully utilize the site to its fullest potential. The site can set the next landscape for Singapore though like how South Beach Residences is.

Now it’s just a supplement to the Hotel 81 opposite :o

Let’s see how the development / community age in 20 years time
 

Passerboy

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Now it’s just a supplement to the Hotel 81 opposite :o

Let’s see how the development / community age in 20 years time

😂 u have spoken what I felt for the longest and that was why I told bro nishizhu I classified the M under mass market condo in a good location. If CDL or UOL won this site I don’t think the M would be there liao maybe M residences or sth, actually the name of it also doesn’t ring a bell too. If u search the M on google the first few results would not be the condo.
 

Ohw123

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😂 u have spoken what I felt for the longest and that was why I told bro nishizhu I classified the M under mass market condo in a good location. If CDL or UOL won this site I don’t think the M would be there liao maybe M residences or sth, actually the name of it also doesn’t ring a bell too. If u search the M on google the first few results would not be the condo.

Maybe CDL would have named it “Mid Grand @ Bugis” :s13:
 

Passerboy

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Maybe CDL would have named it “Mid Grand @ Bugis” :s13:

Bro that’s a bad name in my opinion.. 🤣
M Residences sounds better. Name is very impt too!
Guoco Midtown Modern and Midtown Bay imo are classy...
Stirling Residences, Queens Peak, Commonwealth Towers, Parc Esta are safe names you can’t go wrong.

Penrose 🤔 🤔
 

Ohw123

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Bro that’s a bad name in my opinion.. ******************
M Residences sounds better. Name is very impt too!
Guoco Midtown Modern and Midtown Bay imo are classy...
Stirling Residences, Queens Peak, Commonwealth Towers, Parc Esta are safe names you can’t go wrong.

Penrose ****************** ******************

There’s actually another condo called M Residences already :)

The reason why I said Mid Grand is cause recently CDL has been naming their condos with the word “Grand”. Such as Piermont Grand, Whistler Grand and Sengkang Grand.

Maybe instead of Mid Grand they can name it Parc M, M towers, etc :D
 
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Passerboy

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There’s actually another condo called M Residences already :)

The reason why I said Mid Grand is cause recently CDL has been naming their condos with the word “Grand”. Such as Piermont Grand, Whistler Grand and Sengkang Grand.

Maybe instead of Mid Grand they can name it Parc M, M towers, etc :D

wow indeed there is.. didn’t even know..
 

Ohw123

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If only their blocks are in a M formation. With the LEGO blocks style like interlace! Hahaha

Not a fan of Interlace’s design actually, feels quite cramped :o
Would prefer a few modern towering skyscrapers cladded in full glass facade with sky gardens and terraces (like Commonwealth Towers, Stirling Residences, J gateway, Sturdee Residences, Seaside Residences, The Trilinq, etc) :s22:
 
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Passerboy

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Not a fan of Interlace’s design actually, feels quite cramped :o
Would prefer a few modern towering skyscrapers cladded in full glass facade with sky gardens and terraces (like Commonwealth Towers, Stirling Residences, J gateway, Sturdee Residences, Seaside Residences, The Trilinq, etc) :s22:

I pretty much like JGateway, Sturdee Residences, Commonwealth Towers and Seaside Residences. Think Guoco Midtown would look grand too.
 
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