Two strata office floors at Raffles Place for sale at $30 mil
2 999-year leasehold strata office stories at TPI Bldg within Cecil Street are actually ready for sale through EOI at an expressive amount of $30 mil.
CBRE is the premium marketing operator for the real property.
Both levels for marketing are positioned within the peak 2 floors in the six-storey business office building. Each level carries a strata surface area of 3,929 sq ft plus displays a column-free configuration.
Collectively, the two storeys feature an overall strata surface area of 7thousand 8hundred 58 square feet, and that presents 31 percentage out of the total strata size of the structure. Based at the entire strata surface area, the denotive rate equate to $Three thousand Eight hundred Eighteen psf.
Conceding to CBRE, both stories, in which carry remaining tenancies, are generally to get promoted collectively or singularly. Noncitizens are qualified to secure without additional buyer’s tax or seller’s stamp duty inflicted on the business building activity.
Clemence Lee, senior director, capital mkts, Singapore, at CBRE, claims that the building is without a doubt an uncommon possibility and furthermore predicts good passion for both stories.
“There are just a small number of 999-year or free lease strata office buildings placed inside of the CBD. For many years, most of these kinds have already been invested in by high-net-worth consumers or household business offices for long-term investment decision,” he boosts.
He additionally mentions that underneath URA’s Master Plan 2019, TPI bldg possesses a highest plot ratio of 12.6. “Presented the current under-utilised plot ratio of Six point Eight and by having solely three more property owners throughout the property, there certainly is opening for all the proprietors to get as one to either collectively redevelop or revamp the facility or to commence a mutual sale,” he describes.
TPI Bldg stands somewhere between Telok Ayer train Terminal and also Raffles Place Mass Rapid Transit Interchange, all of which are no more than a five-minute stretch apart. The bldg is likewise close-by Food and beverage facilities featuring Lau Pa Sat plus the Amoy/Telok Ayer St dining territory.
The EOI routine will end on March24 in 3pm.
