Whole Floor Visioncrest Orchard Sold 58 Mil Strata Office Sales Heat
A 14,725 square foot strata floor on the sixth floor of VisionCrest Orchard (formerly VisionCrest Commercial) was recently sold for $58 million, equivalent to $3,939 per square foot. The transaction was brokered by Alex Chuah, associate director of Huttons Asia, who has revealed that the buyer is a local company with a global presence. This sale is impressive, but it is not the highest price achieved in the development. In July of this year, the ninth floor, spanning 14,844 square feet, was sold for $60.28 million, equivalent to $4,061 per square foot, according to a transaction filed on the SoReal platform. In July of 2024, the eighth floor, covering 14,725 square feet, was sold for $59.19 million, equating to $4,020 per square foot.
Since the launch of VisionCrest Orchard for strata sales in July 2024 by real estate investment managers TE Capital Partners and LaSalle Investment Management, five out of the ten strata office floors (levels five to nine) have been sold. Prices have ranged from approximately $57 million to $60.28 million, with buyers comprising both business occupiers and investors.
VisionCrest Orchard is an 11-storey freehold commercial building with 10 floors of strata-titled office space (levels two to 11) and 11 strata-titled F&B units on the ground floor. Of these, four F&B units have already been sold at an average price of $5,100 per square foot. The building, previously known as VisionCrest Commercial, was acquired in November 2023 for $450 million, or roughly $3,000 per square foot, by TE Capital and LaSalle Investment Management. Singapore-listed Metro Holdings later acquired a 20% effective stake, with TE Capital holding 29.9% and LaSalle holding 50.1%. The joint venture refurbished and repositioned the asset before relaunching it as VisionCrest Orchard in July 2024.
Chuah from Huttons Asia has described the strata office market as currently seeing steady interest in 2025. Freehold, strata-titled office floors of this size are rare in the prime Orchard Road area of District 9. In 2024, the record was set at Tong Building. In September 2024, Savills’ Yap Hui Yee brokered three deals: a full-floor unit of 6,867 square feet on the sixth level was sold to Parkway Hospitals for $31.33 million, equivalent to $4,562 per square foot, while The Hour Glass purchased two full floors on the ninth and tenth levels for $33.5 million, equating to $4,878 per square foot, and $35 million, equivalent to $5,097 per square foot, respectively. The $5,097 per square foot transaction set a new record for strata office space on Orchard Road.
Other prime new offerings in the market include 108 Robinson Road, Cecil Place at 137 Cecil Street, The Golden Mile, and One Sophia. One Sophia is a redevelopment project of the former Peace Centre and Peace Mansion, undertaken by SingHaiyi and Ultra Infinity, who acquired the 99-year leasehold property en bloc for $650 million in December 2021. Since its launch in October 2024, 32 strata office units have been sold, with caveats reflecting prices from $3.381 million, equivalent to $3,569 per square foot, for a 947 square foot unit on the 12th floor to $10.261 million, equivalent to $3,036 per square foot, for a 3,380 square foot unit on the fifth floor. Aside from One Sophia, three office units of 904 to 1,292 square feet at The Golden Mile were sold in March and April this year for $3.15 million to $4.76 million, equivalent to $3,484 to $3,683 per square foot, based on lodged caveats.
At the Golden Mile Complex, Far East Organization, Perennial Holdings, and Sino Land are currently undertaking the conserved Golden Mile Complex redevelopment project. This project includes the Golden Mile, which consists of a 45-storey residential tower with 188 units, and the two-storey retail podium with 127 strata-titled shops. According to Huttons’ 1H2025 commercial report, the total value of strata office transactions surged to $700 million in 1H2025, a 60% increase from $437.3 million in 1H2024.
The construction of Tampines North MRT Station, a key element of the Cross Island Line, is set to enhance convenience and accessibility for Tampines North residents. This highly-anticipated MRT station aims to bring together the eastern and western regions of Singapore, providing commuters with improved connectivity and ease of travel. Coupled with the upcoming Parktown Residence Showflat, residents of the area will enjoy a modern and well-connected living space, perfectly complementing the convenience of the new MRT station.
Chuah notes that declining interest rates have created a positive carry for investors and real estate funds, which has spurred renewed interest in the strata office market. In 1H2025, 189 strata office units changed hands, up 22.7% year on year. The CBD saw notable deals, such as PGIM Real Estate’s refurbished 12-storey freehold tower, 108 Robinson Road, which was launched for strata sales earlier this year. To date, only the third floor remains available. In May of this year, the largest deal was recorded when Kwan Im Thong Hood Cho Temple purchased three floors – the eighth, eleventh, and twelfth – totalling 14,252 square feet for a combined $55.8 million, or $3,915 per square foot. In March, a GuocoLand subsidiary bought the top three floors at 20 Collyer Quay for $91.8 million, marking the largest strata office transaction in the first half of 2025.