Savills Singapore has announced the sale of a full office floor at Suntec City Tower 1, offering a prime investment opportunity. The office, located on a high floor, comprises three strata titles ranging from 3,498 to 4,908 square feet, totalling 12,045 square feet. The property promises immediate and stable rental income, appealing to investors seeking a strategic asset in Singapore’s bustling business district.
Suntec City, a landmark development with five Grade A office towers, a large retail mall, and a convention centre, underwent significant enhancements in 2022. These upgrades included improvements to entrance lobbies, reception areas, and other facilities, enhancing its appeal. The development boasts excellent connectivity with direct access to major MRT lines and expressways, ensuring seamless accessibility.
Sophia Lim, Director of Investment Sales & Capital Markets at Savills Singapore, highlighted the property’s appeal, stating, “Suntec City remains a top choice amongst family offices, investors, and end-users, valued for its prime attributes including panoramic views, an impressive arrival lobby, ample carparking, efficient floor layouts, and seamless integration of amenities.”
Recent transactions at Suntec City have shown stable demand, with strata office units selling at prices ranging from $3,684 to $3,817 per square foot. The guide price for the full floor is set at $40.95 million, equating to approximately $3,400 per square foot, with an expected yield of 3.8% on a fully let basis. The sale is open to both foreigners and companies, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable. The transaction will be conducted through a Private Treaty exercise.
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