Office floor at Suntec Tower 1 for sale at $42.8 mil
According to market resources, the office ground for sale is on the 27th floor. Resale cautions suggest that the whole office floor was last bought for $31.72 million ($2,634 psf) in June 2021.
He adds that the dimension of the strata office floor plate makes it adjustable for subdivision or amalgamation within units that can accommodate the room requirements of incoming lessees or self-use. “The whole floor also comprises three private strata titles, providing possibility for future divestment as different strata units,” claims Wong.
Suntec City is a centrally located integrated advancement that consists of 5 Grade-An office towers, a retail shopping center and a convention facility.
The place benefits from straight 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 major freeways including the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
JLL is advertising the purchase of the office floor with an expression of interest (EOI) activity that closes on Aug 20. The sale is open to foreign customers and organizations, and the added purchaser’s stamp obligation and seller’s stamp obligation are not applied for this transaction.
The strata office floor has a regular and adaptable floor-plate design that includes seven private units. It is currently partially tenanted and will most likely be sold with existing occupancies.
“Need for strata office properties in Suntec City continues to be strong, with minimal amount of Grade-An office complex satisfying the marketplace’s need for attributes such as drop-off places, parking lot, scenery, and features,” says Wong.
Recent office unit transactions at Suntec City included 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 level of Tower 3 was settled for $15.3 million ($3,200 psf) on June 7.
A complete strata office space ground at Suntec Tower 1, in Suntec City, has definitely been offered at an indicative guide price of $42.8 million. The flooring plate has a complete strata floor space of 12,045 sq ft, and the overview value translates to $3,553 psf.
This supplies the brand-new owner with the versatility to take up the property as a financial investment, totally leasing it out for rental, or moving in as a landlord-occupier, claims Terry Wong, higher director, Resources Markets, JLL Singapore.
Lentor Hills Residences floor plan
The office ground on the marketplace includes all-round views of the Marina Bay zone and the neighboring city sky line.
Last December, a 10,312 sq ft penthouse office floor on the 44th floor of Suntec City Tower 3 was sold for $36.23 million ($3,513 psf). This deal was secured by Wong of JLL.
