SINGAPORE (EDGEPROP) - A training centre space in Paya Lebar Square is on the market for $6.1 million, and is offered for sale by private treaty, says the marketing agent Knight Frank.
The asking price for the high-floor unit on the market translates to $2,276 psf, and recent office units at Paya Lebar Square have been sold at between $1,800 and $2,000 psf, says Knight Frank.
Paya Lebar Square is a six-year-old commercial development that is linked to Paya Lebar MRT Interchange on the East-West and Circle lines. The development features a 10-storey, strata-titled, office tower, and a three-story retail podium. Nearby commercial developments include Paya Lebar Quarter and SingPost Centre.
The training centre comprises two adjoining units with a total floor area of 2,680 sq ft. The space is fitted to conduct classes for working adults, but it can be easily converted into a corporate office with meeting rooms and workspaces.
The set-up, layout, and teaching equipment also make the property suitable for immediate occupation and operation by training and educational-centre operators, says Mary Sai, executive director of investment and capital markets at Knight Frank Singapore.
“As safe distancing and work-from-home measures take place in light of current circumstances, smaller offices in suburban areas with good transport connectivity will appeal to companies looking to downsize as a cost-saving measure, or have satellite offices as part of business continuity plans after the two-month circuit breaker period,” she says.
Check out the latest listings near Paya Lebar Square, Paya Lebar Quarter and Paya Lebar MRT
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