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Seven Hundred Beach - Boutique Office Development
Just 30% occupied upon acquisition in April 2008, this asset has benefited from strategic change of use, and a design-led refurbishment. Fine Grain converted the building from 55 apartment units into 8 floors of boutique office targeted for the media and design industries. As at May 2009, this building is 90% occupied.
Investment structuring, set-up, and syndication:
Optimal Investment Structure
- Established in 2007, a Singapore-registered investment consortium was structured to provide tax-efficient, low cost structure for a group of international and local Singapore Private Equity investors.
- Fine Grain Property provides investment vehicle administration services, including compliance, governance, and investor reporting/relations services.
Property Acquisition and Asset Management:
Knowledge of Area Development Plans
- The Beach Road Corridor is proximate to Singapore's CBD, in an area which continues to see considerable infrastructural and other public and private sector investment. Seven Hundred Beach is situated 100 metres from the new Circle Line underground rail line, which is scheduled to commence operations in early 2010.
Cost-effective, design-led upgrade
- Change of use from residential to office.
- Conversion from 55 apartment units totalling 5,850sqm to eight floors of office totalling 6,286 sqm (an effective 7.45% increase in efficiency).
- Rebranding and repositioning as a boutique office building, featuring 4.5 metre ceiling heights, with swimming pool and gym on rooftop.
- Design-led interior refurbishment by world-renowned Hirsch Bedner Associates.
Focus on High Quality Occupant Mix
- Hirsch Bedner Associates, international hospitality interior designer.
- GroupM, member of WPP Advertising Group.
- BBC Worldwide
- DIA Brands
Exit Planning
- High quality building upgrade and blue chip tenant make the building attractive to an institutional investor or REIT.
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