Two strata office floors at Raffles Place for sale at $30 mil
Two 999-year leasehold strata office space stories at TPI Bldg within Cecil St are actually put up for transaction by EOI at an indicative pricing of $Thirty mil.
CBRE is the privileged promoting and marketing professional for the real property.
The two stories for purchase are located within the peak two levels in the six-storey office complex. All storey features a strata area of 3thousand 9hundred 29 sq ft and even offers a no column configuration.
Combined, both of these floors come with a whole strata surface area of Seven thousand Eight hundred Fifty Eight square foot, in which serves as Thirty One % coming from the total strata surface area of the building. Based upon the entire strata surface area, the suggestive price tag translates to $Three thousand Eight hundred Eighteen psf.
Conceding to CBRE, both storeys, and that own remaining tenancies, are generally being sold collectively or independently. Immigrants are allowed to invest in with no ABSD or seller’s tax enforced on the commercial real property dealing.
Clemence Lee, Snr director, capital mkts, SGP, at CBRE, mentions such that the real property is an unusual possibility and expects strong passion for the two floors.
“There are just a handful of 999-year or lease free strata office buildings placed amongst the CBD. For many years, the majority of these types have actually been secured by high-net-worth consumers or family office spaces for lasting investment decision,” he boosts.
He similarly identifies that under URA’s Master Plan 2K19, TPI building has an optimum PR of Twelve point Six. “Presented the present lower than utilised PR of 6.8 also with merely three more owners throughout the building, there is possibility for all of the owners to enter together to either jointly reconstruct or perhaps refurbish the structure or to embark on a collective sale,” he clarifies.
TPI Building stands somewhere between Telok Ayer train Terminal and Raffles Place MRT Interchange, either of which are no more than a five minute walk apart. The bldg is additionally close to F&B features offering Lau Pa Sat including the Amoy/Telok Ayer Street dining enclave.
The EOI routine are going to terminate on Mar 24 at 3:00pm.