The entire 31st floor office located at Suntec Tower 1 is on the market for sale at $43 million. Savills is the designated sales agent and will conduct the sale by way of the expression of interest process that will close on Sept. 14th.
The office floor is comprised of three strata titles, each ranging from 3,735 to 4,758 square feet, which is an overall strata space of 12,282 sq. ft. All of the floor’s space is rent-controlled, providing stable and quick rental income.
Price of the asking is $43 million. This is equivalent into an average cost of $3,501 per sq ft on the strata zone. Foreigners and corporations can buy without paying any stamp duty for buyers or sellers stamp duty due upon the purchase.
“Following Savills’ recent successful sale of four offices at Solitaire at Cecil and several transaction in Suntec City, we’ve seen a significant interest in premium Grade-A strata office space,” says Sophia Lim director of capital markets and investment sales for Savills Singapore.
She also says that Suntec City remains an investment choice for the public and developers due to its the highest quality strata offices in the world and a shopping mall that offers an array of F&B and lifestyle choices as well as ample parking spaces and transportation connectivity.
“The offices situated on the upper levels in Suntec City are always sought for, since they are the sole strata office building within the region that offers breathtaking perspectives of Marina Bay Financial District, Kallang River, and the Singapore Sports Hub,” Lim says. Lim.