Office floor at Suntec Tower 1 for sale at $42.8 mil
The strata office floor has a regular and versatile floor-plate design that incorporates 7 private units. It is currently partly tenanted and will most likely be sold with existing occupancies.
The place benefits from straight entry to close-by MRT stops such as Promenade (Circle and Midtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also attached to major highways including the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
An entire strata office ground at Suntec Tower 1, in Suntec City, has definitely been put up for sale at a suggestive overview price of $42.8 million. The floor covering plate has a complete strata floor space of 12,045 sq ft, and the guide pricing converts to $3,553 psf.
Last December, a 10,312 sq ft penthouse office floor on the 44th floor of Suntec City Tower 3 was yielded $36.23 million ($3,513 psf). This deal was sealed by Wong of JLL.
JLL is advertising the sale of the workplace floor via an expression of interest (EOI) exercise that closes on Aug 20. The sale is open to foreign buyers and companies, and the added customer’s stamp responsibility and seller’s stamp obligation are not applied for this deal.
Blossoms By The Park condominium
Suntec City is a centrally located incorporated advancement that comprises five Grade-A workplace towers, a retail shopping mall and a convention facility.
According to industry sources, the facility storey offer for sale is on the 27th level. Reselling caveats suggest that the whole office ground was last acquired for $31.72 million ($2,634 psf) in June 2021.
This supplies the new owner with the versatility to occupy the possession as an investment decision, totally renting it out for rent, or relocating as a landlord-occupier, states Terry Wong, top supervisor, Resources Markets, JLL Singapore.
He adds that the size of the strata workplace floor plate makes it versatile for subdivision or amalgamation into units that can suit the area requirements of arriving tenants or self-use. “The entire storey even makes up 3 private strata titles, giving opportunity for future divestment as different strata units,” states Wong.
“Need for strata office assets in Suntec City remains sturdy, with small amount of Grade-An office complex satisfying the marketplace’s need for attributes such as drop-off places, car parks, sights, and features,” states Wong.
Recent office unit deals at Suntec City featured the sale of a 3,078 sq ft unit on the 37th ground of Tower 1 that switched hands for $11.5 million ($3,736 psf) on June 20. At the same time, a 4,779 sq ft unit on the 22nd level of Tower 3 was negotiated for $15.3 million ($3,200 psf) on June 7.
The office floor on the market features overall sights of the Marina Bay spot and the neighboring city sky line.
