Two strata office floors at Raffles Place for sale at $30 mil
2 9hundred 99 year leasehold strata office space storeys at TPI Building in Cecil St are actually ready for deal by expression of interest at a denotive rate of $Thirty mil.
CBRE is undoubtedly the unique advertising rep for the real property.
Both storeys offer for sale are found in the highest 2 floors in the six-storey office complex. All level comes with a strata surface area of Three thousand Nine hundred Twenty Nine square foot plus displays a columnless layout.
With each other, both of these stories come with a complete strata area of Seven thousand Eight hundred Fifty Eight square foot, which in turn work out to 31 percent of the entire strata surface area of the building. Based within the overall strata size, the denotive price tag interpret to $3,818 psf.
According to CBRE, both storeys, which own occurring possessions, are to become sold off together or one-by-one. Immigrants are qualified to purchase for zero additional buyer’s tax or SSD imposed on the business asset deal.
Clemence Lee, Snr Dir, capital markets, S’pore, at CBRE, states in which the property is certainly a scarce chance and furthermore foresees robust rate of interest for the 2 storeys.
“Generally there are just a small number of 999-year or free lease strata office complex positioned in the CBD. Throughout the years, the majority of these kinds have gotten invested in by high-net-worth professionals or family unit office spaces for long-term investment,” he boosts.
He additionally mentions that underneath URA’s Master Plan 2019, TPI bldg holds an optimum PR of Twelve point Six. “Given the current less than utilized PR of 6.8 also by having just 3 other property owners throughout the property, there is opportunity for every of the proprietors to get with each other to perhaps jointly redevelop or renovate the building or to enter a enbloc,” he details.
TPI Bldg is positioned somewhere between Telok Ayer MRT Station plus Raffles Place train Interchange, all of that are less than a five-minute stroll apart. The building is additionally close-by Food and beverage amenities including Lau Pa Sat including the Amoy/Telok Ayer Street eating territory.
The expression of interest routine will end on Mar 24 at 3pm.