Sin Ming Centre sold to Apex Asia Development for $49 mil

OrangeTee & Tie acted as the local agent for the sale of Sin Ming Centre in a deal by private treaty. The Singapore-based development company Apex Asia bought the mixed-use, freehold development at Sin Ming Road District 20 for $49million on 3 April.

The sale also marks the successful sale of an integrated development in 2018. OrangeTee & Tie’s team of agents specialised in the land, industrial and commercial asset transactions facilitated the transaction.

Sin Ming Centre consists of a four-storey, mixed-use complex. The first floor has five commercial units and the upper floors have 22 residential units. The property occupies a 15,432 sq. ft. plot with a gross area of 46.257 sq. ft. The building was built in 1998 and all the residential and commercial units are leased. The property has many amenities and dining options along Upper Thomson Road. It is also located close to Thomson Plaza.

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Sin Ming Centre is located 280m from Upper Thomson MRT station on the Thomson-East Coast Line. Marymount MRT station on the Circle Line is 950m. The area is serviced by major roads, including Upper Thomson Road as well as the Pan Island Expressway and Central Expressway.

Li Jun, its chairman, previously served as the executive chairman of Qingjian Realty Group. In this role, he was in charge of landmark projects including the collective sale and redevelopment site of Shunfu Ville.

Apex Asia Development in Singapore is an independently owned developer. It led a consortium that acquired Noel Building on 50 Playfair at a cost of $81.18M, with the intention to turn it into a new factory.

“The sale at Sin Ming Centre represents a pivotal moment in Apex Asia Development’s growth strategy.” Li says that as Apex Asia Development expands its footprint in Singapore, it is our vision to redefine city living by creating innovative mixed-use projects.

He added that the developer would redevelop Sin Ming Centre, a mixed-use building with commercial shops at the ground floor and residential apartment on the upper floors.

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