Two strata office floors at Raffles Place for sale at $30 mil

2 999-year rent period strata office storeys at TPI Building at Cecil St are recently ready for deal via EOI at an expressive rate of $30 mil.

CBRE is certainly the exceptional advertising and marketing agent for the commercial property.

The two floors available for sale are located at the top two floors out of the six-storey office complex. All level comes with a strata area of 3thousand 9hundred 29 square feet and includes a column-free format.

With each other, both the levels carry a whole strata surface area of 7thousand 8hundred 58 square feet, in which stands for 31 percent in reference to the whole strata size of the building. Based within the overall strata area, the indicative amount interpret to $Three thousand Eight hundred Eighteen per square foot.

According to CBRE, both levels, that feature occurring tenancies, are generally being offered collectively or individually. Foreigners are qualified to secure without any further buyer’s stamp duty or seller’s tax inflicted on the business real property purchase.

Clemence Lee, Snr Dir, capital mkts, S’pore, at CBRE, shares that the real property is actually a scarce possibility and furthermore expects solid curiosity for both levels.

“Currently there are purely a small number of 999-year or freehold strata office complex positioned in the Central Business District. Over the years, the majority of these types have gotten bought by wealthy people or household workplaces for lasting investment decision,” he boosts.

He likewise brings up that following Urban Redevelopment Authority’s Master Plan 2019, TPI bldg features an utmost PR of 12.6. “Presented the present under utilized PR of Six point Eight and by having just three various other property owners among the building, there certainly is venture for every one of the property owners to enter with each other to either jointly rebuilt or maybe recondition the building or to enter a cooperative sale,” he details.

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TPI Building lies between Telok Ayer MRT Terminal and Raffles Place MRT Interchange, either of which are less than a five minute stroll afar. The building is additionally in close proximity to Food & Beverage features featuring Lau Pa Sat including the Amoy/Telok Ayer Street dining enclave.

The expression of interest routine will end on 24March at 3pm.

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