Office floor at Suntec Tower 1 for sale at $42.8 mil

This gives the new owner with the versatility to use up the asset as an investment decision, totally leasing it out for rent, or moving in as a landlord-occupier, states Terry Wong, senior director, Capital Markets, JLL Singapore.

He includes that the size of the strata office floor plate makes it manageable for neighborhood or combinations within units that can fit the space conditions of incoming lessees or self-use. “The entire level additionally comprises 3 private strata titles, supplying possibility for future divestment as different strata units,” says Wong.

“Need for strata office space properties in Suntec City stays robust, with small amount of Grade-An office complex satisfying the market’s demand for attributes such as drop-off places, car parks, views, and facilities,” says Wong.

Arina East Residences condo floor plan

JLL is marketing the transaction of the office floor via an expression of interest (EOI) exercise that finalizes on Aug 20. The sale is open to foreign customers and companies, and the added customer’s stamp duty and vendor’s stamp responsibility are not applicable for this deal.

A whole strata office space floor at Suntec Tower 1, in Suntec City, has been put up for sale at a suggestive overview price of $42.8 million. The flooring plate has a total strata floor surface area of 12,045 sq ft, and the guide price translates to $3,553 psf.

The strata office floor has a normal and adaptable floor-plate style that includes 7 private units. It is currently somewhat tenanted and will most likely be offered with existing tenancies.

Recent office unit deals at Suntec City featured 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 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 Downtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also attached to significant highways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.

The workplace ground on the marketplace features all-round scenery of the Marina Bay spot and the neighboring city skyline.

According to market resources, the office floor up for sale is on the 27th floor. Reselling cautions suggest that the entire workplace ground was last bought for $31.72 million ($2,634 psf) in June 2021.

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 deal was sealed by Wong of JLL.

Suntec City is a centrally located incorporated growth that makes up five Grade-An office towers, a retail shopping center and an event centre.


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