Office floor at Suntec Tower 1 for sale at $42.8 mil
According to market sources, the facility ground available is on the 27th floor. Resale cautions show that the entire office ground was last bought for $31.72 million ($2,634 psf) in June 2021.
This offers the brand-new proprietor with the versatility to use up the property as an investment, fully renting it out for lease, or relocating as a landlord-occupier, states Terry Wong, top director, Resources Markets, JLL Singapore.
A whole strata office space level at Suntec Tower 1, in Suntec City, has been offered at an indicative guide rate of $42.8 million. The floor plate has an overall strata floor space of 12,045 sq ft, and the guide value converts to $3,553 psf.
The strata office floor has a normal and versatile floor-plate layout that includes seven private units. It is presently partly tenanted and are going to be offered with existing tenancies.
Last December, a 10,312 sq ft penthouse office ground on the 44th level of Suntec City Tower 3 was sold for $36.23 million ($3,513 psf). This offer was closed by Wong of JLL.
“Demand for strata workplace possessions in Suntec City continues to be sturdy, with limited quantity of Grade-An office complex fulfilling the market’s demand for characteristics like drop-off points, parking area, viewpoints, and services,” claims Wong.
Suntec City is a centrally located integrated advancement that makes up five Grade-A workplace towers, a retail shopping mall and an event hub.
JLL is advertising the sale of the workplace floor through an expression of interest (EOI) exercise that finalizes on Aug 20. The sale is open to overseas buyers and entities, and the added customer’s stamp duty and seller’s stamp responsibility are not suitable for this deal.
Recent office unit transactions 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. On the other hand, 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.
He includes that the size of the strata office floor plate makes it flexible for community or combinations in to units that can suit the space requirements of inbound renters or self-use. “The entire level additionally comprises 3 private strata titles, giving chance for near future divestment as separate strata units,” says Wong.
The workplace floor on the marketplace features overall sights of the Marina Bay zone and the surrounding city skyline.
The location benefits from direct accessibility to nearby 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 significant freeways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
