Office floor at Suntec Tower 1 for sale at $42.8 mil
JLL is marketing the purchase of the office level via an expression of interest (EOI) activity that closes on Aug 20. The sale is open to foreign customers and organizations, and the added buyer’s stamp duty and seller’s stamp obligation are not suitable for this purchase.
The workplace ground on the marketplace features all-round sights of the Marina Bay location and the surrounding city sky line.
“Demand for strata office possessions in Suntec City stays robust, with small supply of Grade-An office buildings meeting the marketplace’s demand for characteristics such as drop-off parts, parking area, viewpoints, and services,” states Wong.
This gives the brand-new owner with the versatility to take up the asset as an investment, totally renting it out for hire, or relocating as a landlord-occupier, says Terry Wong, higher supervisor, Funding Markets, JLL Singapore.
The Hill @ One North Kingsford Development Pte Ltd
According to industry sources, the office ground available is on the 27th ground. Reselling cautions suggest that the entire office floor was last purchased for $31.72 million ($2,634 psf) in June 2021.
A full strata office ground 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 covering plate has a complete strata floor space of 12,045 sq ft, and the guide value translates to $3,553 psf.
Recent office unit deals at Suntec City featured the sale of a 3,078 sq ft unit on the 37th storey 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 level of Tower 3 was settled for $15.3 million ($3,200 psf) on June 7.
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 closed by Wong of JLL.
Suntec City is a centrally located incorporated advancement that makes up 5 Grade-An office towers, a retail shopping mall and an event center.
The strata workplace floor has a standard and flexible floor-plate style that incorporates seven private units. It is presently partially tenanted and are going to be offered with existing occupancies.
The location benefits from straight access to nearby MRT stops such as Promenade (Circle and Downtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also linked to major freeways including the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
He includes that the dimension of the strata office floor plate makes it adjustable for subdivision or amalgamation in to units that can fit the area requirements of inbound occupants or self-use. “The entire floor additionally comprises 3 private strata titles, supplying opportunity for future divestment as separate strata units,” states Wong.
