The adjoining office units are located on the 16th floor of Suntec Tower One (Picture: Cushman & Wakefield)
A pair of strata office units on the 16th floor at Suntec Tower One is up for sale through an expression of interest (EOI) exercise, with a guide price of $22.04 million. The adjoining units have a combined strata area of 687 sq m (7,395 sq ft), which means the guide price works out to $2,980 psf.
The properties comprise two separate strata titles and can be purchased together or individually, says Cushman & Wakefield, which is marketing the offices. The individual units measure 325 sq m (3,498 sq ft) and 362 sq m (3,897 sq ft) and are priced at $10.43 million and $11.61 million, respectively.
The units are currently owned and occupied by Franklin Templeton. However, the global asset manager is letting go of the space to move into a larger, consolidated regional headquarters in 2H2026. Hence, the units at Suntec Tower will be delivered to the eventual buyer with vacant possession. Featuring column-free floorplates, the units can accommodate over 50 workstations, along with private suites and collaborative spaces.
Read also: Strata office floor at Southpoint for sale at $20.5 mil
Cushman & Wakefield says that the properties are suited for “owner-occupiers seeking ready-to-use corporate premises, as well as investors looking for attractive rental yields, with returns projected at up to 4% p.a.”.
Suntec Tower One is part of Suntec City, an integrated development on Temasek Boulevard comprising five Grade A office towers, a mall, as well as a convention and exhibition centre. It has direct, sheltered access to three MRT stations — City Hall, Promenade and Esplanade.
Daphne Poh, director of capital markets at Cushman & Wakefield, notes that Suntec City remains a top choice among family offices, investors and end-users who are drawn to the development’s attributes, such as its iconic Fountain of Wealth, ample carpark and connectivity.
Shaun Poh, Cushman & Wakefield’s executive director of capital markets, adds that URA’s restriction on new strata subdivision in key Central Area locations since 2022 has “significantly limited future supply [of strata offices], further enhancing the investment value of Suntec offices”.
Caveats lodged with URA show that the most recent strata office transaction at Suntec City occurred on March 18, when a unit at Suntec Tower Three, spanning 4,747 sq ft, changed hands for $15.19 million ($3,200 psf). Before that, another unit at Suntec Tower Three, measuring 2,928 sq ft, fetched $11.41 million ($3,897 psf) on Jan 5.
The latest resale transaction at Suntec Tower One occurred in July last year, when a 2,196 sq ft unit on the 39th floor changed hands for $8.1 million ($3,689 psf).
The EOI will close on May 5 at 3pm.