Office floor at Suntec Tower 1 for sale at $42.8 mil
Recent office space 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. At the same time, a 4,779 sq ft unit on the 22nd flooring of Tower 3 was transacted for $15.3 million ($3,200 psf) on June 7.
The place benefits from straight access to nearby MRT stations such as Promenade (Circle and Midtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also linked to major freeways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
He adds that the size of the strata workplace flooring plate makes it adjustable for community or combinations within units that can accommodate the area requirements of arriving lessees or self-use. “The entire floor even consists of 3 private strata titles, giving possibility for future divestment as different strata units,” claims Wong.
According to industry resources, the facility ground offer for sale is on the 27th ground. Resale caveats show that the whole workplace ground was last purchased for $31.72 million ($2,634 psf) in June 2021.
JLL is promoting the transaction of the office floor via an expression of interest (EOI) activity that closes up on Aug 20. The sale is open to international buyers and companies, and the additional buyer’s stamp obligation and vendor’s stamp responsibility are not applicable for this purchase.
Suntec City is a centrally located incorporated growth that makes up five Grade-An office towers, a retail shopping mall and a convention centre.
A full strata office space floor at Suntec Tower 1, in Suntec City, has definitely been offered at a suggestive guide rate of $42.8 million. The flooring plate has a complete strata floor surface area of 12,045 sq ft, and the overview value converts to $3,553 psf.
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“Need for strata office space assets in Suntec City stays strong, with minimal quantity of Grade-An office buildings satisfying the marketplace’s demand for attributes such as drop-off places, parking area, scenery, and services,” states Wong.
Last December, a 10,312 sq ft penthouse office floor on the 44th level of Suntec City Tower 3 was brought $36.23 million ($3,513 psf). This offer was sealed by Wong of JLL.
The strata office level has a standard and versatile floor-plate style that incorporates 7 specific units. It is currently somewhat tenanted and will be offered with existing occupancies.
The workplace ground on the marketplace includes overall sights of the Marina Bay spot and the neighboring city horizon.
This supplies the brand-new owner with the versatility to occupy the property as an investment, totally subleasing it out for rental, or moving in as a landlord-occupier, says Terry Wong, top director, Capital Markets, JLL Singapore.
