Office floor at Suntec Tower 1 for sale at $42.8 mil
The place benefits from straight access 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 linked to significant highways like the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
Last December, a 10,312 sq ft penthouse office floor on the 44th level of Suntec City Tower 3 was yielded $36.23 million ($3,513 psf). This offer was sealed by Wong of JLL.
The strata workplace floor has a normal and flexible floor-plate style that encompasses seven specific units. It is currently somewhat tenanted and will be offered with existing occupancies.
The office floor on the market features overall scenery of the Marina Bay zone and the neighboring city sky line.
This offers the new proprietor with the flexibility to occupy the property as a financial investment, fully leasing it out for rental, or moving in as a landlord-occupier, says Terry Wong, higher supervisor, Capital Markets, JLL Singapore.
Recent office unit deals at Suntec City included the sale of a 3,078 sq ft unit on the 37th floor of Tower 1 that switched hands for $11.5 million ($3,736 psf) on June 20. Meanwhile, a 4,779 sq ft unit on the 22nd floor of Tower 3 was transacted for $15.3 million ($3,200 psf) on June 7.
JLL is marketing the sale of the workplace level with an expression of interest (EOI) exercise that closes on Aug 20. The sale is open to foreign investors and companies, and the extra customer’s stamp responsibility and seller’s stamp responsibility are not suitable for this transaction.
Suntec City is a centrally located incorporated growth that consists of 5 Grade-A workplace towers, a retail mall and an event centre.
He adds that the size of the strata workplace flooring plate makes it flexible for neighborhood or combinations into units that can fit the room conditions of incoming renters or self-use. “The entire level also makes up three individual strata titles, offering chance for near future divestment as different strata units,” states Wong.
A full strata workplace ground at Suntec Tower 1, in Suntec City, has recently been offered at a suggestive overview rate of $42.8 million. The floor plate has an overall strata floor surface area of 12,045 sq ft, and the guide value equates to $3,553 psf.
“Demand for strata workplace possessions in Suntec City stays robust, with limited supply of Grade-An office buildings meeting the marketplace’s demand for characteristics like drop-off places, parking area, views, and amenities,” claims Wong.
According to industry resources, the office ground available is on the 27th level. Resale cautions show that the whole workplace ground was last bought for $31.72 million ($2,634 psf) in June 2021.
