Two strata office floors at Raffles Place for sale at $30 mil
Two 999-year rent period strata workplace storeys at TPI Building at Cecil Street are recently up for marketing through expression of interest at a denotive rate of $30 mil.
CBRE is definitely the unique promoting and marketing rep for the property.
Both stories available are placed in the highest 2 stories in the six level office space building. All story features a strata area of 3,929 sq ft also comes with a no column design.
Together, both the floors come with a whole strata surface area of 7thousand 8hundred 58 sq ft, which in turn presents 31 percentage coming from the whole strata area of the project. Based within the whole strata area, the denotive pricing translates to $3thousand 8hundred 18 psf.
Basing on to CBRE, both storeys, which possess remaining occupancies, are generally to become promoted mutually or one by one. Immigrants are qualified to procure with no extra buyer’s stamp duty or SSD required on the business building purchase.
Clemence Lee, senior Dir, capital mkts, S’pore, at CBRE, points out such that the property is without a doubt an unusual opening and furthermore predicts solid interest for both floors.
“There are just a handful of 999-year or free lease strata office buildings placed amongst the CBD. Throughout the years, most of these types have been bought by wealthy people or household offices for future investment,” he beefs up.
He similarly brings up that following Urban Redevelopment Authority’s Master Plan 2019, TPI bldg possesses a maximum PR of Twelve point Six. “Presented the current under-utilised plot ratio of Six point Eight and also alongside solely three various other property owners inside the property, there is venture for every one of the property owners to enter with each other to perhaps mutually redevelop alternatively restore the building or to enter a enbloc,” he clarifies.
TPI Bldg stands somewhere between Telok Ayer train Station and also Raffles Place MRT Interchange, all of which are merely no more than a five min walk afar. The bldg is in addition nearby Food and beverage features offering Lau Pa Sat and also the Amoy/Telok Ayer Street dining territory.
The EOI routine will terminate on Mar 24 at three in the afternoon.