Office floor at Suntec Tower 1 for sale at $42.8 mil
Suntec City is a centrally located incorporated growth that consists of five Grade-A workplace towers, a retail shopping mall and a convention hub.
The strata workplace level has a regular and versatile floor-plate layout that incorporates seven individual units. It is presently partially tenanted and are going to be marketed with existing occupancies.
He includes that the dimension of the strata office flooring plate makes it adjustable for neighborhood or combinations within units that can suit the space conditions of arriving renters or self-use. “The entire floor additionally consists of three individual strata titles, offering chance for future divestment as separate strata units,” claims Wong.
“Need for strata office assets in Suntec City remains sturdy, with limited supply of Grade-An office buildings fulfilling the market’s demand for characteristics such as drop-off places, parking area, viewpoints, and facilities,” says Wong.
JLL is advertising the transaction of the workplace level through an expression of interest (EOI) activity that closes up on Aug 20. The sale is open to international customers and organizations, and the additional customer’s stamp obligation and seller’s stamp duty are not applicable for this deal.
A full strata office space floor at Suntec Tower 1, in Suntec City, has recently been put up for sale at a suggestive overview cost of $42.8 million. The floor covering plate has a complete strata floor area of 12,045 sq ft, and the guide pricing translates to $3,553 psf.
According to market sources, the office floor available for sale is on the 27th ground. Resale cautions suggest that the whole workplace floor was last purchased for $31.72 million ($2,634 psf) in June 2021.
The place benefits from direct access to neighboring 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 significant freeways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
This gives the new proprietor with the adaptability to occupy the possession as an investment, fully subleasing it out for rental, or relocating as a landlord-occupier, states Terry Wong, top director, Funding Markets, JLL Singapore.
Last December, a 10,312 sq ft penthouse office floor on the 44th level of Suntec City Tower 3 was sold for $36.23 million ($3,513 psf). This deal was closed by Wong of JLL.
Recent workplace 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 floor of Tower 3 was settled for $15.3 million ($3,200 psf) on June 7.
The workplace ground on the marketplace features all-round sights of the Marina Bay area and the surrounding city skyline.
