Two strata office floors at Raffles Place for sale at $30 mil
Two 999 year rent period strata office space stories at TPI Bldg within Cecil St are actually up for marketing by using EOI at a sign rate of $Thirty mil.
CBRE is the unique marketing professional for the asset.
Both floors up for sale are found within the ceiling 2 storeys out of the six level business office building. Every story carries a strata surface area of 3,929 sq ft and features a column-free configuration.
With each other, both levels hold a complete strata size of 7thousand 8hundred 58 square feet, that presents 31 percent based on the entire strata size of the building. Based within the overall strata surface area, the a sign pricing convert to $Three thousand Eight hundred Eighteen psf.
Confering to CBRE, both levels, in which come with existing possessions, are generally being marketed collectively or one by one. Foreigners are entitled to purchase without any additional buyer’s tax or SSD placed on the business asset deal.
Clemence Lee, senior Dir, capital markets, Singapore, at CBRE, points out such that the asset is certainly an unique opening and even predicts good attention for the 2 stories.
“Generally there are just a handful of 999-year or lease free strata office complex located within the CBD. Over the years, the majority of these kinds have already gotten invested in by rich individuals or family unit business offices for lasting investment,” he further mentioned.
He similarly identifies that beneath Urban Redevelopment Authority’s Master Plan 2019, TPI bldg has a max plot ratio of Twelve point Six. “Granted the existing under-utilised PR of Six point Eight and with only 3 some other property owners inside the property, certainly there is possibility for all the proprietors to appear as one to either together redevelop or maybe renovate the building or to commence a enbloc,” he clarifies.
TPI Building rises in between Telok Ayer Mass Rapid Transit Terminal and Raffles Place MRT Interchange, both of which are less than a five-minute stroll afar. The building is likewise close to F&B conveniences such as Lau Pa Sat including the Amoy/Telok Ayer Street eating enclave.
The EOI activity are going to cease on 24Mar at 1500 hrs.