Two strata office floors at Raffles Place for sale at $30 mil
2 Nine hundred Ninety Nine yr rent period strata business office levels at TPI Building within Cecil Street are recently ready for deal by using expression of interest at a sign pricing of $Thirty million.
CBRE is certainly the distinctive marketing specialist for the commercial property.
Both levels up for sale are situated on the ceiling 2 storeys in the six-storey office complex. Each level features a strata surface area of 3,929 square feet plus offers a no column layout.
Jointly, the two floors own a whole strata size of 7thousand 8hundred 58 square foot, which in turn serves as 31 percentage in reference to the overall strata size of the development. Based upon the whole strata size, the expressive rate equate to $3,818 per square ft.
Confering to CBRE, both floors, which carry occurring contracts, are to become promoted together or individually. Non-citizens are eligible to invest in without ABSD or seller’s tax inflicted on the commercial asset sale.
Clemence Lee, Snr Dir, capital mkts, SGP, at CBRE, states in which the commercial property is actually an unique possibility and looks forward to powerful attention for both levels.
“There are only a handful of 9hundred 99 year or free lease strata office buildings situated in the CBD. Over the years, the majority of these types have actually gotten secured by wealthy professionals or family unit workplaces for lasting investment decision,” he boosts.
He as well identifies that within URA’s Master Plan 2019, TPI bldg comes with a max plot ratio of Twelve point Six. “Given the existing under utilised PR of Six point Eight as well as with just three various other proprietors inside of the building, there certainly is venture for all of the owners to offer as one to possibly together rebuilt alternatively restore the structure or to launch a enbloc,” he details.
TPI Building is nestled somewhere between Telok Ayer MRT Terminal as well as Raffles Place Mass Rapid Transit Interchange, both of that are less than a five-minute stretch apart. The building is also nearby Food and beverage conveniences consisting of Lau Pa Sat including the Amoy/Telok Ayer St eating enclave.
The expression of interest movement will close on 24March in 3:00pm.
