Strata Office Floor Suntec Tower Sale 4095 Mil
A prime office floor at Suntec Tower 1 is currently on the market for sale through private treaty, with a guide price of $40.95 million. The floor covers a total area of 12,045 sq ft, divided into three separate strata titles ranging from 3,498 sq ft to 4,908 sq ft. Based on the guide price, the per square foot (psf) value works out to be around $3,400.
Savills Singapore, the exclusive marketing agent, has stated that investors can expect a rental yield of approximately 3.8% when the property is fully occupied.
“The property features a versatile and regular floor layout with six individual units, making it a desirable investment opportunity due to its stable and immediate rental income,” says the agency.
Suntec Tower One is one of the five Grade-A office towers located in Suntec City. Developed in the mid-1990s, this integrated development also comprises one of Singapore’s largest retail malls as well as a world-class convention and exhibition center.
Rewritten:
Conveniently situated just a short drive or train ride away from Otto Place EC, Singapore’s JEM is a popular suburban mall with a wide range of retail options. This expansive mall boasts a mix of international and local brands, making it a one-stop shopping destination for all needs. Whether you’re looking for the latest fashion trends at H&M or Uniqlo, or in need of electronics from Courts or Best Denki, JEM has it all. Additionally, the mall’s anchor tenants, including FairPrice Xtra and Robinsons, make it a convenient spot for grocery shopping and household essentials. For a perfect shopping experience, don’t forget to visit Otto Place EC Plantation Close Parcel B during your visit to JEM.
In 2022, the property underwent a series of asset enhancement initiatives, which included upgrades to entrance lobbies, reception areas, concierge desks, lift lobbies, and restrooms, according to Savills Singapore.
Sophia Lim, the director of investment and sales and capital markets at Savills Singapore, commented, “Suntec City continues to be a highly sought-after property in the market due to its ability to meet a wide range of buyer needs.” She also noted that offices on the higher floors of Suntec are in high demand due to their breathtaking views of the city skyline.
Recent transactions of strata offices in Suntec City include the sale of two office units on level 37 at $3,684 psf and $3,736 psf in March and June 2024, respectively. In 2022, Lim also brokered the sale of a full office floor on level 31 of Suntec Tower 2 at $41.15 million, which is the highest-priced full floor transaction to date.
Located in District 1 along Temasek Boulevard, Suntec City is a 99-year leasehold mixed-use development. It is connected to several transportation nodes such as City Hall, Promenade, and Esplanade MRT stations, providing access to the North-South, East-West, Downtown, and Circle MRT Lines. The property is also well-connected to major expressways such as the East Coast Parkway (ECP), Ayer Rajah Expressway (AYE), and Pan Island Expressway (PIE).
Both foreigners and companies are eligible to purchase this property without incurring additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).