Office floor at Suntec Tower 1 for sale at $42.8 mil
The strata workplace level has a standard and adaptable floor-plate style that encompasses 7 individual units. It is currently partially tenanted and will most likely be sold with existing tenancies.
JLL is advertising the sale of the workplace floor via an expression of interest (EOI) exercise that finalizes on Aug 20. The sale is open to international clients and organizations, and the additional customer’s stamp obligation and seller’s stamp obligation are not suitable for this transaction.
“Need for strata office possessions in Suntec City continues to be sturdy, with limited quantity of Grade-An office complex fulfilling the marketplace’s demand for characteristics like drop-off parts, parking lot, viewpoints, and features,” says Wong.
This offers the new proprietor with the versatility to take up the possession as an investment, totally subleasing it out for lease, or moving in as a landlord-occupier, says Terry Wong, higher supervisor, Capital Markets, JLL Singapore.
A full strata workplace floor at Suntec Tower 1, in Suntec City, has definitely been put up for sale at an indicative guide rate of $42.8 million. The floor covering plate has a complete strata floor surface area of 12,045 sq ft, and the overview pricing translates to $3,553 psf.
According to industry resources, the office floor for sale is on the 27th level. Resale cautions indicate that the entire workplace floor was last acquired for $31.72 million ($2,634 psf) in June 2021.
Suntec City is a centrally located incorporated development that comprises 5 Grade-An office towers, a retail mall and an event facility.
He includes that the size of the strata office floor plate makes it adjustable for neighborhood or combinations into units that can fit the area guidelines of incoming occupants or self-use. “The entire storey also makes up 3 personal strata titles, supplying opportunity for near future divestment as separate strata units,” states Wong.
The place benefits from direct access to close-by MRT terminals such as Promenade (Circle and Downtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also attached to major highways including 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 closed by Wong of JLL.
The office floor on the market features all-round scenery of the Marina Bay location and the neighboring city sky line.
Recent office space unit purchases at Suntec City included the sale of a 3,078 sq ft unit on the 37th storey 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.
