Two strata office floors at Raffles Place for sale at $30 mil
Two 999-year lease period strata workplace floors at TPI Building on Cecil St are actually up for marketing using EOI at an indicative figure of $Thirty million.
CBRE is certainly the privileged advertising representative for the asset.
The two floors up for sale are nestled at the peak 2 stories of the six-storey office complex. Each story features a strata size of 3thousand 9hundred 29 square feet as well as offers a column vacant layout.
Jointly, both of these stories own a total strata area of 7,858 square foot, that stands for Thirty One percentage of the entire strata size of the structure. Based upon the entire strata surface area, the indicative rate equate to $3thousand 8hundred 18 psf.
Basing on to CBRE, the two stories, that come with existing occupancies, are generally to become offered jointly or one by one. Immigrants are qualified to buy without additional buyer’s tax or SSD troubled the business real property deal.
Clemence Lee, senior Dir, capital mkts, S’pore, at CBRE, states that the asset is an uncommon business opportunity and looks forward to solid attention for the 2 stories.
“Currently there are just a few of 999-year or lease free strata office complex nestled inside the CBD. Throughout the years, a lot of these types have already been secured by wealthy professionals or family unit workplaces for permanent investment decision,” he includes.
He as well points out that underneath Urban Redevelopment Authority’s Master Plan 2019, TPI bldg carries a max PR of Twelve point Six. “Given the present less than use plot ratio of 6.8 also alongside solely 3 various other proprietors inside the building, there is possibility for all the proprietors to get together to either mutually rebuilt or maybe renovate the property or to embark on a mutual sale,” he details.
TPI Bldg lies between Telok Ayer Mass Rapid Transit Terminal as well as Raffles Place MRT Interchange, each of that are lower than a five minute stroll away. The bldg is likewise in close proximity to F&B services such as Lau Pa Sat including the Amoy/Telok Ayer St eating territory.
The expression of interest activity are going to conclude on March24 at 1500 hrs.