SINGAPORE (EDGEPROP) - Three adjacent strata office units at SBF Centre are on the market with a guide price of $3,600 psf. The units have a total floor area of 1,969 sq ft, ranging from 624 sq ft to 678 sq ft, on the 13th floor of the building. They are available for sale via expression of interest (EOI).

The marketing agent Knight Frank says the price of each unit ranges from $2.25 million to $2.44 million, which works out to an approximate average price of $3,600 psf. “This asset is ideal for those who want their own space in the CBD and investors seeking stable rental returns,” adds Mary Sai, executive director of Capital Markets, Knight Frank Singapore. “In the present high-interest rate environment, more investors are relying less on debt, preferring to acquire smaller quantum assets, like these”.

SBF Centre is a 99-year leasehold commercial development at 160 Robinson Road in the Central Business District. The Platinum Green Mark building features contemporary office spaces, a dedicated medical centre, a roof garden, and a pool. The flexibly configured office units serve various business needs, from small and medium enterprises to large multinational corporations. (Find Singapore commercial properties with our commercial directory)

The building is 200m from Tanjong Pagar MRT Station, and road connectivity is along North Bridge Road, Robinson Road and the Keppel Viaduct. Other hotels, offices, and retail developments are nearby Tanjong Pagar, Telok Ayer, and Duxton Hill.

Data from Knight Frank shows that 54 strata office units worth $126.4 million were sold in Singapore in 1Q2023. This marks a 15.7% y-o-y decrease in transaction volume from $150 million raked in 1Q2022. The consultancy says this buying interest comes from rising interest rates and an uncertain global economic outlook.

Sai says several factors combine to sustain demand for strata office units in the CBD. She adds: "The recent cooling measures targeted at residential properties, open borders throughout the Asia-Pacific region, restrictions on subdivision of newer commercial buildings in select parts of CBD, and the limited supply of strata offices will likely draw investor demand to commercial properties.”

The EOI for the sale closes on June 27.

Check out the latest listings near SBF Center, Tanjong Pagar MRT Station