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

OrangeTee & Tie Real Estate Agency recently assisted Apex Asia Development with the purchase of Sin Ming Centre through private contract for $49million on April 3, 2019. OrangeTee & Tie’s agents successfully orchestrated this transaction and provided Apex Asia Development with all relevant documentation necessary.

OrangeTee & Tie, an agency specializing in land, commercial assets and industrial assets, mediated this deal to close it successfully.

Sin Ming Centre, a four-story mixed use development, houses five commercial shops on its ground floor and 22 residential units on the upper three stories. Situated on an area of 15,432 square feet and covering 46,257 square feet in total floor area, its commercial shops and residential units were completed in 1998 and is conveniently situated near Upper Thomson Road as well as numerous dining and entertainment establishments as well as Thomson Plaza shopping mall.

Two MRT stations can be found nearby – Upper Thomson on the Thomson-East Coast Line and Marymount on the Circle Line are respectively 280m and 940m from Sin Ming Centre, providing convenient transport links. Furthermore, major expressways like Upper Thomson Road and Pan Island Expressway connect this area.

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Li Jun, former executive chairman at Qingjian Realty Group (South Pacific). Under his direction were several landmark projects, such as collective sales of former Shunfu Ville apartments followed by their redevelopment into JadeScape.

Apex Asia Development, an independent Singapore developer, specializes in property development. Recently it led a consortium of investors in purchasing Noel Building at 50 Playfair for $81.18 Million to be transformed into a food factory.

Apex Asia Development’s purchase of Sin Ming Centre marks an important step forward in its strategic growth plans, expanding their presence on Singapore’s real estate market while fulfilling their aim to redefine urban life through innovative mixed-use development,” according to Li.

He claims that Sin Ming Centre will be transformed into a mixed use development, featuring commercial shops on its ground level and apartments for residential purposes on upper floors.

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