Two strata office floors at Raffles Place for sale at $30 mil
2 9hundred 99 year rent period strata office space floors at TPI Bldg at Cecil Street are actually up for transaction over expression of interest at a sign figure of $30 million.
CBRE is undoubtedly the exclusive marketing and advertising professional for the real property.
The two stories up for sale are nestled on the peak 2 levels out of the 6 storey office complex. For each story has a strata surface area of 3,929 sq ft as well as comes with a columnless structure.
With each other, both of these stories carry an overall strata size of 7,858 sq ft, which serves as 31 percent out of the entire strata surface area of the project. Based within the entire strata size, the a sign amount translates to $3,818 per sq feet.
According to CBRE, the two floors, and that carry remaining tenancies, are simply to be promoted jointly or singularly. Non-citizens are qualified to invest in for no ABSD or SSD inflicted on the commercial building sale.
Clemence Lee, Snr Dir, capital mkts, S’pore, at CBRE, mentions in which the asset is without a doubt an unusual venture and even looks forward to good attention for the two stories.
“Currently there are purely a few of 9hundred 99 year or free lease strata office complex placed amongst the CBD. Throughout the years, most of these have already been purchased by rich individuals or family group workplaces for extended financial investment,” he further mentioned.
He likewise indicates that under URA’s Master Plan ’19, TPI bldg comes with an utmost PR of Twelve point Six. “Offered the current under utilized plot ratio of 6.8 and also by having solely 3 other owners within the building, there certainly is chance for every one of the owners to appear all together to either collectively rebuilt or renovate the building or to commence a en-bloc,” he spells out.
TPI Bldg is located in between Telok Ayer MRT Terminal as well as Raffles Place MRT Interchange, all of which are less than a 5 min stretch afar. The bldg is in addition in close proximity to Food and beverage facilities consisting of Lau Pa Sat as well as the Amoy/Telok Ayer St eating area.
The expression of interest exercise are going to cease on March24 at 3 in the afternoon.