Office floor at Suntec Tower 1 for sale at $42.8 mil
The strata office floor has a standard and flexible floor-plate layout that encompasses seven specific units. It is currently somewhat tenanted and will most likely be sold with existing occupancies.
“Demand for strata office assets in Suntec City continues to be robust, with small amount of Grade-An office buildings satisfying the market’s demand for attributes like drop-off parts, parking lot, views, and facilities,” states Wong.
According to market resources, the office ground available is on the 27th floor. Resale cautions indicate that the entire office floor was last bought for $31.72 million ($2,634 psf) in June 2021.
Last December, a 10,312 sq ft penthouse office ground on the 44th floor of Suntec City Tower 3 was brought $36.23 million ($3,513 psf). This deal was sealed by Wong of JLL.
The office ground on the market features all-round sights of the Marina Bay location and the surrounding city sky line.
Suntec City is a centrally located incorporated advancement that consists of five Grade-A workplace towers, a retail mall and an event facility.
This provides the brand-new owner with the versatility to take up the property as an investment decision, fully subleasing it out for hire, or relocating as a landlord-occupier, states Terry Wong, senior director, Resources Markets, JLL Singapore.
He includes that the dimension of the strata office flooring plate makes it flexible for subdivision or combinations in to units that can accommodate the space requirements of arriving occupants or self-use. “The entire storey also comprises three personal strata titles, offering possibility for near future divestment as separate strata units,” claims Wong.
A whole strata office space level at Suntec Tower 1, in Suntec City, has definitely been put up for sale at a suggestive guide rate of $42.8 million. The floor plate has an overall strata floor surface space of 12,045 sq ft, and the overview pricing converts to $3,553 psf.
Recent workplace unit purchases at Suntec City featured the sale of a 3,078 sq ft unit on the 37th floor of Tower 1 that shifted hands for $11.5 million ($3,736 psf) on June 20. Meanwhile, a 4,779 sq ft unit on the 22nd floor of Tower 3 was negotiated for $15.3 million ($3,200 psf) on June 7.
The location benefits from straight access to close-by MRT terminals such as Promenade (Circle and Downtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also connected to major freeways such as the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
JLL is promoting the sale of the workplace floor via an expression of interest (EOI) exercise that closes on Aug 20. The sale is open to international customers and entities, and the extra purchaser’s stamp obligation and vendor’s stamp responsibility are not applicable for this transaction.
