OrangeTee & Tie had brokerage a private treaty agreement sale of former Sin Ming Centre to Apex Asia Development for $49 million.
Enbloc Sin Ming Centre also represents the first mixed-use property sold successfully in 2024. A group of OrangeTee & Tie agents specifically in land, commercial, and industrial asset transactions arranged the deal. One party and specialized broker List Sotheby’s International Realty represented the seller on the property, at 8 Sin Ming Road.
Comprising five commercial stores on the first floor and 22 residential apartments on the higher levels, Sin Ming Center is a four-story mixed-use complex. Comprising a 15,432 square foot plot with a total floor size of 42,277 square feet, the development has completely leased business retail shops and residential units. The property is near Thomson Plaza retail center and several facilities and restaurants along Upper Thomson Road.
From two neighboring MRT stations – Upper Thomson on the Thomson-East Coast Line and Marymount on the Circle Line, this location also enjoys outstanding transit connections. Major highways and expressways like Upper Thomson Road, the Pan Island Expressway, and the Central Expressway also go over this region.
Li Jun, chairman of Apex Asia Development, was executive chairman of Qingjian Realty (South Pacific) Group before. In that capacity, he supervised historic initiatives like the group sale of the old Shunfu Ville and later site redevelopment as JadeScape.
Independent developer Apex Asia Development operates out of Singapore. With intentions to convert Noel Building at 50 Playfair into a new food factory, it brought a group of investors to pay $81.18 million for it.
“The sale of Sin Ming Centre signals a turning point for the strategic development strategy of Apex Asia. Li adds, “Our vision is to redefine urban living through creative mixed-use developments as we keep footprint in Singapore’s property market expands.”
The developer will rebuild former Sin Ming Centre into Artisan 8, featuring a new mixed-use development with first floor commercial shops and higher level residential units, he says.