Two strata office floors at Raffles Place for sale at $30 mil
Two 999-year leasehold strata workplace stories at TPI Bldg at Cecil Street are put up for purchase through EOI at a suggestive value of $Thirty million.
CBRE is undoubtedly the exceptional promoting and marketing specialist for the real property.
Both storeys up for sale are nestled in the top 2 storeys in the six-storey office complex. For each floor features a strata surface area of 3,929 square foot and includes a column free style.
With each other, both of these levels hold an entire strata area of 7,858 square feet, that stands for 31 % coming from the whole strata surface area of the project. Based on the whole strata surface area, the a sign pricing convert to $Three thousand Eight hundred Eighteen psf.
According to CBRE, the 2 stories, and that carry existing possessions, are generally being distributed jointly or one-by-one. Non-citizens are qualified to invest in for zero ABSD or SSD troubled the commercial real property purchase.
Clemence Lee, senior director, capital markets, Singapore, at CBRE, expresses such that the asset is certainly an unusual opening and furthermore foresees strong passion for the 2 stories.
“Generally there are basically a handful of 999-year or free lease strata workplace buildings positioned inside the CBD. Over the years, most of these types have actually been purchased by high-net-worth individuals or family workplaces for permanent financial investment,” he includes.
He also says that beneath Urban Redevelopment Authority’s Master Plan 2019, TPI bldg holds a highest PR of Twelve point Six. “Presented the present less than utilized PR of 6.8 and alongside solely three some other owners among the building, certainly there is opening for every of the owners to get as one to either jointly rebuilt or restore the facility or to embark on a enbloc,” he spells out.
TPI Bldg rises between Telok Ayer MRT Station plus Raffles Place MRT Interchange, either of which are merely barely a five min stroll off. The bldg is additionally close to F&B facilities offering Lau Pa Sat plus the Amoy/Telok Ayer Street eating territory.
The expression of interest exercise will close on March24 in 1500hrs.
