SINGAPORE (EDGEPROP) - An office unit measuring 8,019 sq ft at Southpoint, located on Cantonment Road, has been put up for sale at $18 million ($2,245 psf). The unit on the seventh floor enjoys unblocked sea and port views. Although the 16-storey office building has a freehold tenure, the strata-titled office unit for sale is 99 years leasehold with effect from 1985. It therefore has 64 years left on its lease. This is because the developer of Southpoint had sold some of the strata office units with a freehold tenure, and others on a leasehold basis, points out Stella Hoh, key executive officer of Richmond Capital, who is marketing the unit. The office building was developed by Kuo International and completed in 1985.

The unit for sale is currently tenanted until March 31. The market indicative rent is $7 psf per month. This translates to a gross rental yield of about 3.7%, says Hoh.

Southpoint is located within 10 minutes by foot to Tanjong Pagar MRT Station.

The typical floor plate on each level of South Point is around 16,000 sq ft in size. The freehold building has a total floor area of approximately 239,927 sq ft.

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