Strata office floor at Suntec Tower 1 for sale at $41.8 mil
Based on URA caveats, the office units were bought in June 2011 at $30.27 million. The very first unit figuring 4,758 sq ft was bought at around $11.7 million. The 2nd unit of 3,735 sq ft was purchased at $9.2 million, whilst the 3rd unit taking up 3,789 sq ft was settled at $9.34 million. All 3 units were negotiated at $2,465 psf based upon floor surface area.
Immigrants and business are eligible to buy commercial estate without paying for additional purchaser’s or seller’s stamp responsibility.
So far this year, the development has actually viewed an overall of 5 deals ranging between $3,200 psf and $3,817 psf, based on caveats lodged.
An over-all workplace floor on the 31st floor of Suntec Tower 1 has actually been sold with an overview rate of $41.8 million. According to the exclusive promotion broker PropNex, the real property makes up 3 individual strata titles and is offered for sale using private treaty. At a combined strata area of 12,282 sq ft, this works out to an overview rate of $3,403 psf.
Emerald Of Katong Jalan Tembusu Road price
This is the second office level at Suntec Tower 1 that has actually been sold this month. On July 10, a complete strata office ground on the 27th storey was put up on the marketplace at an indicative rate of $42.8 million. With a floor area of 12,045 sq ft, this equates into an overview price of $3,553 psf. JLL is promoting the office floor through an expression of interest activity that closes on Aug 20.
The workplace units have a 99-year leasehold from 1989, with a standing lease of around 64 years. They are totally tenanted until October 2025, giving prompt month-to-month rental revenue of greater than $130,000, says Henry Lim, affiliate area branch director of PropNex. The lessee has actually shared interest in prolonging the rent, he includes.
The most current transaction was in June, when a 3,079 sq ft strata office unit on the 37th floor changed hands for $11.5 million, or $3,736 psf.
Lim claims that Suntec City strata office, specifically high-floor units, tend to appreciate solid appeal from investors and occupiers due to their main location, broad commercial offerings on-site and access.
Suntec Tower 1 is among 5 workplace towers in the Suntec City property development on 7 Temasek Boulevard. The property development even comprises a retail shopping center and event center. Located within the CBD, it is catered to by three MRT lines through the Esplanade, Promenade and City Hall MRT Stations.
The three strata units are in between 3,735 and 4,758 sq ft. Lim mentions that the newly arriving proprietor has the flexibility to keep the entire storey as it is, or divest the units independently in the future.
