Two strata office floors at Raffles Place for sale at $30 mil
Two 999 year leasehold strata workplace storeys at TPI Bldg on Cecil St are recently put up for transaction by EOI at a sign price tag of $Thirty million.
CBRE is simply the premium advertising operator for the building.
Both storeys available are located on the top 2 levels of the six level office complex. Each story holds a strata surface area of 3,929 square feet and also includes a column-free layout.
Combined, both of these levels possess a whole strata size of 7,858 square feet, which work out to Thirty One % in reference to the full strata surface area of the development. Based on the full strata size, the a sign price tag translates to $Three thousand Eight hundred Eighteen per square feet.
Basing on to CBRE, the two floors, that have remaining possessions, are to be promoted at the same time or uniquely. Noncitizens are qualified to purchase without ABSD or seller’s tax enforced on the commercial asset deal.
Clemence Lee, Snr director, capital mkts, SGP, at CBRE, shares in which the real property is certainly a scarce business opportunity and furthermore forecasts robust passion for both stories.
“There are purely a handful of 999-year or freehold strata office complex nestled amongst the CBD. Over the years, many of these types have gotten secured by high-net-worth individuals or family office spaces for long-lasting investment,” he boosts.
He additionally brings up that beneath Urban Redevelopment Authority’s Master Plan 2019, TPI building comes with a max PR of 12.6. “Presented the existing under-utilised plot ratio of 6.8 and also alongside merely three various other proprietors within the building, there is opportunity for every one of the proprietors to get together to perhaps jointly rebuilt or perhaps restore the property or to launch a mutual sale,” he spells out.
TPI Building lies in between Telok Ayer MRT Station and also Raffles Place Mass Rapid Transit Interchange, all of which are merely lower than a five-minute stroll afar. The building is equally close to Food & Beverage services consisting of Lau Pa Sat and also the Amoy/Telok Ayer Street dining territory.
The expression of interest exercise will end on 24Mar at 1500 hrs.