An entire office on the 19th floor of GB Building is up for sale via expression of interest (EOI) with an asking price of $10.8 million, according to Savills Singapore, the exclusive marketing agent for the property.

The office floor spans approximately 5,425 sq ft, with exclusive lift access and a column-free floorplate. The guide price of $10.8 million translates to $1,990 psf based on the floor area.

Situated at 143 Cecil Street, the 26-storey GB Building occupies a corner plot and enjoys dual frontage along Cecil Street and McCallum Street. The building has three basement levels of parking for up to 105 vehicles. Access is from the rear of the building.

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GB Building is connected via a sheltered walkway to Tanjong Pagar MRT Station (East-West Line). The building is also within walking distance of two other MRT Stations: Telok Ayer (Downtown Line) and Shenton Way (Thomson-East Coast Line).

With URA restricting new strata office development, and the strong demand for strata office space reflected in recent transactions, “GB Building’s prestigious address, excellent connectivity, and ongoing urban transformation [in the CBD] make it a highly compelling proposition”, says  Yap Hui Yee, executive director of investment sales and capital markets, Savills Singapore.

The wave of rejuvenation and redevelopment projects in the CBD includes Solitaire on Cecil (formerly the PIL Building), Cecil Place at 137 Cecil Street, and Keppel South Central. The upcoming The Skywaters (redevelopment of the former AXA Tower) and Newport Tower (former Fuji Xerox Towers), which are mixed-use developments incorporating premium office space, retail, luxury residences and hospitality, are also part of the government’s efforts to inject more life in the CBD by introducing more work-live-play components.

As GB Building is zoned as a commercial property, it is available for purchase by both foreign buyers and companies, with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) payable. The EOI exercise will end on Oct 31.