Office floor at Suntec Tower 1 for sale at $42.8 mil
Recent office unit transactions 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 negotiated for $15.3 million ($3,200 psf) on June 7.
The location benefits from direct entry to neighboring MRT terminals such as Promenade (Circle and Downtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also attached to major highways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
JLL is advertising 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 companies, and the added purchaser’s stamp responsibility and seller’s stamp responsibility are not applied for this deal.
He adds that the dimension of the strata office floor plate makes it versatile for community or amalgamation within units that can suit the area requirements of arriving occupants or self-use. “The whole level also comprises 3 personal strata titles, offering possibility for near future divestment as separate strata units,” states Wong.
Lakegarden Residences showflat location
According to market resources, the office storey up for sale 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.
The office ground on the marketplace includes all-round views of the Marina Bay area and the surrounding city horizon.
An entire strata office ground at Suntec Tower 1, in Suntec City, has recently been offered at an indicative guide cost of $42.8 million. The flooring plate has an overall strata floor surface space of 12,045 sq ft, and the overview value converts to $3,553 psf.
Suntec City is a centrally located incorporated growth that makes up 5 Grade-A workplace towers, a retail shopping center and an event facility.
This gives the brand-new proprietor with the adaptability to take up the possession as a financial investment, completely renting it out for rental, or moving in as a landlord-occupier, claims Terry Wong, senior supervisor, Resources Markets, JLL Singapore.
The strata office level has a normal and flexible floor-plate style that incorporates 7 specific units. It is currently partially tenanted and are going to be marketed with existing tenancies.
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 deal was secured by Wong of JLL.
“Demand for strata workplace assets in Suntec City remains strong, with limited amount of Grade-An office complex meeting the marketplace’s demand for characteristics like drop-off points, parking lot, scenery, and facilities,” says Wong.
