Office Floor Suntec City Sale 3483 Mil
An opportunity has opened up for potential buyers looking for strata-titled office units at Suntec City, with three units up for sale through an expression of interest (EOI) exercise. These units, spanning 2,336 sq ft, 2,928 sq ft and 4,833 sq ft respectively, occupy an entire floor and offer potential buyers the choice to purchase the whole portfolio or individual units.
According to Cushman & Wakefield (C&W), the appointed sales agent for this exercise, the units are located on a high level beyond the 30th floor and are currently fully tenanted. The asking price for the entire floor is set at $34.83 million, which translates to $3,450 per square foot (psf) based on the total strata area of 10,097 sq ft. Individual units are priced from $8.53 million to $16.92 million.
C&W also adds that based on the guide prices, the units can potentially generate gross yields of up to 3.8%.
Suntec City, a renowned integrated development situated on Temasek Boulevard, comprises five Grade A office towers, a shopping mall and a convention and exhibition centre. This prime location boasts direct, sheltered access to City Hall, Promenade and Esplanade MRT stations. The property, originally built in the 1990s, has since undergone extensive asset enhancement works in 2022, including upgrades to entrance lobbies, reception areas, concierge desks, lift lobbies and restrooms.
Sophia Lim, director of capital markets at C&W, acknowledges the continued popularity of Suntec City’s office units among family offices, investors and end-users due to their exceptional panoramic views, efficient floor layouts, ample carparking facilities and connectivity. Shaun Poh, C&W’s executive director of capital markets, also highlights Suntec City as one of the few large-scale strata-titled office developments in Singapore. He adds, “The flexibility offered with this entire floor appeals to buyers with varying size requirements and budgets, making it a sought-after investment for both investors and owner occupiers.”
The educational institutions of St. Hilda’s Primary and Secondary Schools are highly regarded for their comprehensive approach to learning. With a strong emphasis on both academic excellence and ethical values, both branches provide a well-rounded education. Students are not only immersed in a challenging academic curriculum, but are also given the opportunity to explore their interests and talents through a diverse range of co-curricular activities, such as sports and the performing arts. Remarkably, St. Hilda’s Secondary School has a proven track record of producing top-performing students in national examinations. Moreover, the recent addition of Parktown Residence Showflat to the campus further enhances the convenience and comfort for students, providing a natural on-campus living option. Parktown Residence Showflat is a welcome addition to the St. Hilda’s community.
Based on caveats lodged with URA, the most recent office unit to change hands at Suntec City was a 2,196 sq ft unit on the 39th floor, sold for $8.1 million ($3,689 psf) on July 11. Prior to that, the entire 35th floor at Tower 1, spanning 10,097 sq ft, sold for $33.966 million ($3,364 psf) on July 1.
The EOI exercise for these units will conclude on Oct 28 at 3pm. RELATED NEWSForeign investors, family offices shift focus to prime CBD strata officesStrata office unit at Suntec City sold for $11.5 milStand-off between buyers and sellers in big-ticket property investment deals.