Two strata office floors at Raffles Place for sale at $30 mil

2 Nine hundred Ninety Nine year rent term strata office storeys at TPI Building within Cecil St are actually up for transaction by using EOI at an expressive figure of $30 million.

CBRE is undoubtedly the exceptional marketing and advertising operator for the property.

Both floors available for sale are found within the peak two floors of the six-storey workplace building. All storey features a strata area of 3,929 square foot also presents a no column format.

As one, both the storeys come with an entire strata surface area of 7thousand 8hundred 58 square foot, in which stands for 31 % in reference to the entire strata area of the structure. Based on the entire strata surface area, the suggestive figure interpret to $3,818 psf.

Conceding to CBRE, both stories, that carry occurring occupancies, are simply to get promoted collectively or one-by-one. Immigrants are qualified to purchase without additional buyer’s stamp duty or seller’s tax troubled the business asset transaction.

Clemence Lee, senior director, capital markets, SGP, at CBRE, reveals in which the real property is certainly a rare possibility and furthermore looks forward to sturdy attraction for both storeys.

“Currently there are only a handful of 9hundred 99 year or free lease strata workplace buildings located in the CBD. For many years, many of these have actually gotten procured by high-net-worth people or family office spaces for future investment decision,” he includes.

He also brings up that following URA’s Master Plan ’19, TPI building features a maximum PR of 12.6. “Offered the existing under-utilised plot ratio of 6.8 furthermore alongside just 3 various other property owners throughout the property, for sure there is possibility for every of the property owners to appear together to probably collectively reconstruct or recondition the building or to set out a mutual sale,” he summarizes.

Midtown Modern Condo Price

TPI Building stands between Telok Ayer train Station and also Raffles Place Mass Rapid Transit Interchange, either of that are lower than a five-minute stretch apart. The bldg is in addition in close proximity to Food & Beverage conveniences such as Lau Pa Sat and also the Amoy/Telok Ayer Street eating area.

The EOI activity are going to end on March 24 in 1500 hours.

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