Two strata office floors at Raffles Place for sale at $30 mil
Two 9hundred 99 year lease period strata office space floors at TPI Building at Cecil Street are already up for marketing via EOI at a sign price tag of $Thirty mil.
CBRE is certainly the privileged advertising rep for the building.
Both levels available are located on the highest 2 storeys of the six-storey business office building. Each floor has a strata surface area of Three thousand Nine hundred Twenty Nine sq ft and also features a columnless format.
As one, both of these storeys come with a full strata surface area of 7,858 sq ft, and that serves as 31 % coming from the entire strata surface area of the property development. Based upon the total strata area, the suggestive amount equate to $3thousand 8hundred 18 per sq feet.
Basing on to CBRE, both floors, in which have remaining tenancies, are being marketed together or one by one. Immigrants are allowed to buy without further buyer’s stamp duty or seller’s stamp duty required on the business property dealing.
Clemence Lee, senior Dir, capital mkts, SGP, at CBRE, points out such that the property is an uncommon possibility and furthermore looks forward to solid curiosity for the 2 storeys.
“Presently there are only a handful of 999-year or lease free strata office space buildings placed in the CBD. Throughout the years, the majority of these have gotten secured by high-net-worth people or family unit office spaces for long-lasting investment decision,” he adds.
He likewise explains that underneath Urban Redevelopment Authority’s Master Plan 2019, TPI bldg holds a max plot ratio of 12.6. “Presented the existing under-utilised plot ratio of Six point Eight also alongside merely 3 more owners among the property, there is chance for all the owners to enter as one to either collectively reconstruct alternatively renovate the facility or to set out a en-bloc,” he summarizes.
TPI Bldg rises somewhere between Telok Ayer Mass Rapid Transit Terminal plus Raffles Place train Interchange, all of which are less than a five-minute walk away. The building is additionally close to Food & Beverage conveniences featuring Lau Pa Sat and also the Amoy/Telok Ayer St dining territory.
The expression of interest activity will end on 24March at 3:00pm.