Property management and leasing of black-and-white bungalows outsourced to Colliers

by • October 30, 2018 • Property Market News, rentingComments (0)339

Colliers International announced on October 29 that it has been appointed by the Singapore Land Authority (SLA) to lead the leasing and property management of 183 heritage black-and-white bungalows in Singapore. Colliers is a global leader in commercial real estate services.

Built in the late 19th century, the 183 heritage bungalows – with land area ranging from 800 to 13,200 square metres – are located at various exclusive residential neighbourhoods, including Adam Drive, Holland Road, King Albert Park, Tanglin Road and Watten Estate Road.

Since its appointment for leasing and property management in Q2 2018, Colliers has successfully closed over 40 lease transactions. Of the 183 properties, fewer than 30 homes are currently vacant and available for lease, it said.

Mr Andy Oon, Director, Real Estate Management Services at Colliers International, said, “Colonial bungalows are highly sought-after properties owing to their iconic design, rich history, prestige factor, as well as generous land space and large private gardens. We have received many leasing enquiries for the black-and-white bungalows.”

The 183 restored black-and-white houses feature colonial design with white-washed walls and columns, clay pitched roofs, dark timber finishes and spacious interiors with well-ventilated rooms. They were originally designed and constructed by the British Administration – when Singapore was part of the British Colony – to promote natural ventilation to combat the tropical climate in Singapore.

property management

Image credit: National Archives of Singapore

The leasing and property management company said lease terms for the bungalows vary, starting from a minimum of two years.

Rental rate would also differ from property to property depending on its location and site attributes. Based on URA REALIS data, the median monthly rent for Core Central Region Detached residential properties in Singapore in Q3 2018 was SGD3.10 per square foot per month (psf pm) – this was higher than the SGD2.98 psf pm in Q2 2018, as well as SGD2.99 psf pm in Q3 2017.

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The director of the leasing and property management company  added: “Barring any unforeseen external shocks, the leasing prospects for these heritage houses remain fairly positive amid the stable economic growth outlook for Singapore over the next year. Singapore continues to be an attractive business destination for multinational corporations, and their setting up or expansion in operations here will present leasing opportunities for the black-and-white bungalows.”

Apart from leasing and property management of the slate of black-and-white houses, Colliers’ Real Estate Management Services also undertakes the tenancy and leasing of several retail and industrial properties, as well as provides a holistic suite of offerings including facilities/portfolio management and asset enhancement management for condominium developments, commercial, industrial and retail buildings.

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The Black-and-White houses are so well known that even a book has been written about them. The book titled, ‘Black and White: The Singapore House 1898-1941’ written by Julian Davison & Luca Invernizzi Tettoni says the houses are a ” a pedigree dating back to the early 20th century”.

“With a pedigree dating back to the early 20th century, the black and white houses of Singapore’s colonial era are universally admired as much for their stylish elegance as for their innovative approach to tropical design. Reflecting a wide range of cross-cultural influences, the black and white Singapore house is today both an architectural treasure and an important part of the national heritage. In this first ever-book to examine this singular architectural tradition, Julian Davison uncovers the key influences in the evolution of the black and white style. Using archival sources and building plans, Black and White: The Singapore House 1898-1941 (Updated) celebrates the achievements of some of Singapore’s greatest architects from the colonial period.”

The author of the book, Julian Davison, is the son of an architect and grew up in Singapore and Malaysia. He was educated in England and has a doctorate in social anthropology from the School of Oriental and African Studies, London. He has edited several reference books and scholarly works relating to the region, including books on Balinese and Indonesian architecture.

The photographer for the book, Luca Invernizzi Tettoni, is a professional archaeologist and has over 50 books to his credit. Dr Tettoni is an award winning photographer and a keen advocate of conservation. He lives in Singapore. The Book is available for purchase at Areca Books Online Bookshop.

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