Two strata office floors at Raffles Place for sale at $30 mil
2 999-year lease term strata office space levels at TPI Building within Cecil St are already put up for marketing by expression of interest at a sign price tag of $Thirty million.
CBRE is simply the exceptional promotion and marketing operator for the building.
Both levels for marketing are located at the peak 2 storeys in the 6 floor office building. Each floor holds a strata area of Three thousand Nine hundred Twenty Nine square feet plus offers a column vacant configuration.
As one, both of these storeys come with a complete strata size of 7thousand 8hundred 58 square feet, which in turn represents 31 % in reference to the overall strata area of the project. Based upon the total strata size, the a sign figure interpret to $3thousand 8hundred 18 psf.
Conceding to CBRE, the 2 floors, and that carry occurring occupancies, are generally being advertised jointly or uniquely. Noncitizens are eligible to secure by having zero ABSD or seller’s stamp duty troubled the business building sale.
Clemence Lee, Snr director, capital mkts, SGP, at CBRE, shares such that the asset is certainly a scarce business opportunity and furthermore looks forward to robust interest for both stories.
“Currently there are merely a handful of Nine hundred Ninety Nine year or free lease strata office complex placed within the Central Business District. Over the years, a lot of these kinds have already been secured by rich professionals or household workplaces for long-lasting financial investment,” he says further.
He also indicates that underneath URA’s Master Plan ’19, TPI building owns a max PR of 12.6. “Granted the current under-utilised PR of 6.8 also by having solely three various other proprietors within the property, certainly there is business opportunity for all the owners to get together to perhaps collectively rebuilt or maybe restore the structure or to commence a shared sale,” he details.
TPI Bldg rises somewhere between Telok Ayer train Terminal and also Raffles Place Mass Rapid Transit Interchange, each of that are no more than a five-minute stroll off. The building is likewise near Food & Beverage amenities featuring Lau Pa Sat including the Amoy/Telok Ayer Street eating territory.
The expression of interest activity will conclude on Mar 24 at 1500 hours.