Office floor at Suntec Tower 1 for sale at $43 mil
The entire 31st office floor at Suntec Tower 1 is up for grabs and Savills Singapore has been appointed the exclusive marketing agent for the sale. This will be conducted through an expression of interest exercise that closes on Sept 14 for an asking price of $43 million.
Also located nearby is Tampines Mall, a retail hotspot boasting over 300 stores and services. This mall is home to several department stores, dining outlets, and retail stores. For leisure activities, Tampines Mall houses a 20-lane bowling alley and a six-screen cinema. In short, from Tampines Ave 11 Condo to Century Square and Tampines Mall, the surrounding vicinity of this condo offers plenty of outlets for both shopping and leisure pursuits.
The floor comprises three individual strata titles ranging from 3,735 to 4,758 sq ft that adds up to a total strata area of 12,282 sq ft. An additional benefit of this purchase is that the floor is already fully tenanted, thus providing a stable and immediate rental income. At $43 million, the average price per square feet comes to $3,501 psf on the strata area.
Foreigners and companies alike are welcomed to purchase this opportunity. Moreover, there will be no extra buyer’s stamp duty or seller’s stamp duty payable on the transaction.
Sophia Lim, director, investment sales and capital markets, at Savills Singapore remarked, “Since our successful sale of four full office floors at Solitaire on Cecil and multiple transactions at Suntec City, we have been receiving strong interest for prime Grade-A strata offices.”
She added that Suntec City continues to be the favourite when it comes to investors and end-users due to its Grade-A strata offices, a retail mall with a wide variety of F&B and lifestyle options, ample carparking space, and also its transport connectivity.
Lim went on to point out that the offices on the higher floors of Suntec City are always in demand due to the picturesque views of the Marina Bay Financial District, Kallang River, and Singapore Sports Hub.