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News Release

Opportunity to Acquire 21 Anderson, Royal Oak Residence

Rare Prime Freehold Residential Acquisition Opportunity off Ardmore Park

​SINGAPORE, 23 January 2013 – Jones Lang LaSalle, as exclusive agent, is pleased to present for sale the 100% interest in an exclusive luxury freehold residential development, 21 Anderson, Royal Oak Residence.

Situated at the fringe of the coveted Ardmore Park residential enclave, 21 Anderson is located within a short distance from the Orchard Road shopping belt, and close to a number of premier schools, such as Raffles Girls’ School, Anglo-Chinese School and the Chinese International School.

The 10-storey freehold residential development comprises 34 units with a strata area of 85,552 sq ft and land area of 49,048 sq ft. Currently, close to 100% of the units are leased out.

“The opportunity to acquire an income generating freehold residential property within the Ardmore Park vicinity is rarely available. This offering provides the ability to capitalise on future appreciation via sale of existing units in the medium term and long term redevelopment potential while providing for steady income in the interim” says Mr Ashish Manchharam, Regional Director of Investments at Jones Lang LaSalle.

“Whilst the vendor is selling the asset, potential investors may also consider acquiring shares in the company that owns the property, thereby realizing Additional Buyers’ Stamp Duty (ABSD) savings,” says Mr Manchharam.

“Although there has been ample supply of land in the suburban residential market, new sites in the prime districts have been limited. The record prices achieved in the suburban and mid-prime residential sectors have narrowed the gap between the mid-prime and luxury residential sectors. The narrow pricing gap between these sectors of the residential market provides promising future prospects for the luxury sector, despite the recent cooling measures announced by the government,” continues Mr Manchharam.

“Furthermore, Outline Planning Permission has been obtained for conversion to serviced apartments, providing the ability to take advantage of the strong growth in Singapore’s hospitality market and strong demand for serviced apartments in the vicinity”

“Long term investors of prime residential properties may find this an attractive proposition, as it would allow them to consolidate their investment into a single property, allowing absolute control over the management of the development, while providing flexibility in their exit options” adds Mr Manchharam.

The development underwent major refurbishment works which were completed in 2009. The units in this prestigious development are accessed through private lift lobbies and have been fitted-out to the highest specifications. Amenities provided include concierge services, a swimming pool, tennis courts, gymnasium, BBQ area and a children’s playground.”

The Expressions of Interest exercise is scheduled to close at 3.00 pm on 28th February 2013.

Notes to Editor:
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was highly commended in a further three countries. For further information, please visit, 200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619