Office floor at Suntec Tower 1 for sale at $42.8 mil

The strata office level has a regular and versatile floor-plate style that includes 7 individual units. It is presently somewhat tenanted and will be sold with existing occupancies.

He includes that the size of the strata office flooring plate makes it versatile for community or combinations into units that can fit the area requirements of arriving occupants or self-use. “The entire floor additionally consists of three personal strata titles, offering chance for near future divestment as different strata units,” says Wong.

Last December, a 10,312 sq ft penthouse office ground on the 44th floor of Suntec City Tower 3 was yielded $36.23 million ($3,513 psf). This deal was closed by Wong of JLL.

Suntec City is a centrally located incorporated advancement that consists of five Grade-An office towers, a retail shopping mall and a convention center.

This gives the brand-new owner with the versatility to occupy the asset as an investment decision, fully leasing it out for lease, or relocating as a landlord-occupier, claims Terry Wong, senior supervisor, Resources Markets, JLL Singapore.

The location benefits from direct entry to nearby MRT terminals such as Promenade (Circle and Midtown Lines), Esplanade (Circle Line) and City Hall (North-South and East-West Lines). It is also linked to major highways such as the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.

JLL is promoting the purchase of the office floor with an expression of interest (EOI) exercise that finalizes on Aug 20. The sale is open to overseas customers and organizations, and the extra purchaser’s stamp responsibility and seller’s stamp obligation are not applied for this transaction.

Recent office space unit deals at Suntec City featured the sale of a 3,078 sq ft unit on the 37th floor of Tower 1 that shifted hands for $11.5 million ($3,736 psf) on June 20. On the other hand, a 4,779 sq ft unit on the 22nd level of Tower 3 was settled for $15.3 million ($3,200 psf) on June 7.

“Need for strata office assets in Suntec City stays sturdy, with small quantity of Grade-An office buildings meeting the marketplace’s need for characteristics such as drop-off parts, parking lot, views, and facilities,” states Wong.

Residence at W price

A full strata office space level at Suntec Tower 1, in Suntec City, has recently been put up for sale at an indicative overview rate of $42.8 million. The floor plate has a complete strata floor surface space of 12,045 sq ft, and the overview value converts to $3,553 psf.

The workplace floor on the marketplace features all-round views of the Marina Bay location and the neighboring city horizon.

According to industry sources, the office floor for sale is on the 27th floor. Resale caveats show that the whole office ground was last bought for $31.72 million ($2,634 psf) in June 2021.


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