The 11-storey VisionCrest Orchard has 10 floors of office space and 11 F&B units on the ground floor (Photo: VIsionCrest Orchard website)
An entire strata floor of 14,725 sq ft on the sixth floor of VisionCrest Orchard (formerly VisionCrest Commercial) was recently sold for $58 million, or $3,939 psf. The deal was brokered by Alex Chuah, associate director of Huttons Asia, who says the buyer is a local company with global operations.
While striking, this is not the highest price achieved in the development. In July, the ninth level — spanning 14,844 sq ft — was sold for $60.28 million ($4,061 psf), according to a transaction filed on the SoReal platform. ERA Singapore states that its agents, Jonathan Fong and Kess Kesinee, brokered the sale.
A year earlier, in July 2024, the eighth level of 14,725 sq ft changed hands for $59.19 million ($4,020 psf).
Read also: Metro, TE Capital and LaSalle Investment jointly acquire VisionCrest Commercial for about $450 mil
Since VisionCrest Orchard was launched for strata sales in July 2024 by real estate investment managers TE Capital Partners and LaSalle Investment Management, five of the 10 strata office floors (levels five to nine) have been sold. Prices have ranged from about $57 million to $60.28 million, with buyers comprising both business occupiers and investors.
Artist's impression of an office space across a floor plate above 14,500 sq ft (Picture: VisionCrest Orchard website)
VisionCrest Orchard is an 11-storey freehold commercial building with 10 floors of strata-titled office space (levels two to 11) and 11 strata-titled F&B units on the ground floor. To date, four of the F&B units have been sold at an average price of $5,100 psf.
The building, formerly known as VisionCrest Commercial, was acquired in November 2023 for $450 million, or nearly $3,000 psf, by TE Capital and LaSalle Investment. The partners had earlier executed a put-and-call option agreement. Singapore-listed Metro Holdings later acquired a 20% effective stake, with TE Capital holding a 29.9% stake and LaSalle holding 50.1%. The joint venture refurbished and repositioned the asset before launching it as VisionCrest Orchard in July 2024.
Artist's impression of the new office lobby of VisionCrest Orchard (Photo: VisionCrest Orchard website)
“The strata office market is seeing steady interest in 2025,” says Huttons’ Chuah. Freehold, strata-titled office floors of this scale are rare along the prime Orchard Road belt in District 9.
While the strata office transaction value has halved compared to a year ago, according to caveat records, the number of transactions is on an uptrend since 1H2024. "With a shortage of commercial listings, the market is seeing a strong demand for large-format strata office space,” said Marcus Chu, Chief Executive Officer, ERA Singapore.
Last year, the record was set at Tong Building on Orchard Road. In September 2024, Savills Singapore's executive director of investment sales and capital markets, Yap Hui Yee, brokered three deals in the freehold 19-storey office building: the entire floor on the sixth floor of 6,867 sq ft was sold to Parkway Hospitals for $31.33 million ($4,562 psf), while The Hour Glass purchased two full floors on the ninth and 10th levels for $33.5 million ($4,878 psf) and $35 million ($5,097 psf), respectively. The $5,097 psf transaction set a new record for strata office space on Orchard Road.
Read also: VisionCrest Commercial up for sale at over $470 mil
Other prime new offerings in the market include 108 Robinson Road, Cecil Place at 137 Cecil Street, The Golden Mile, and One Sophia.
One Sophia's office show suite (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Situated between Orchard Road and the arts and cultural enclave of Bras Basah, One Sophia comprises a 13-storey commercial block with 122 strata-titled office suites and a two-storey retail podium with 127 strata-titled shops. Beside it is a 367-unit residential tower, The Collective at One Sophia.
The project is a redevelopment of the former Peace Centre and Peace Mansion, undertaken by SingHaiyi and Ultra Infinity, which acquired the 99-year leasehold property en bloc for $650 million in December 2021. Since its launch in October 2024, 32 strata office units have been sold, with caveats reflecting prices from $3.381 million ($3,569 psf) for a 947 sq ft unit on the 12th floor to $10.261 million ($3,036 psf) for a 3,380 sq ft unit on the fifth floor.
All except one strata office unit on the third level at 108 Robinson Road have been sold (Photo: CBRE, Savills Singapore and SRI Capital Markets)
In the CBD, PGIM Real Estate launched its refurbished 12-storey freehold tower, 108 Robinson Road, for strata sales in early 2024. PGIM had acquired the building for $143 million in 2021 and extensively refurbished it prior to its launch.
To date, only the third floor remains available. The largest deal was in May this year, when three floors — the eighth, 11th and 12th — totalling 14,252 sq ft were purchased by Kwan Im Thong Hood Cho Temple for $55.8 million ($3,915 psf), according to caveats. The deal was brokered by Low Choon Sin, managing partner of SRI Capital Markets, who also brokered the sale of the retail unit on the first two levels of 108 Robinson Road. The two retail units, with a combined floor area of 6,728 sq ft, fetched $27.68 million ($4,115 psf) in a deal last month. According to sources, the buyer is another temple, namely Toa Payoh Seu Teck Sean Tong. However, Low declined to comment on the buyer when reached.
In March this year, the top three floors at 20 Collyer Quay were sold to a GuocoLand subsidiary for $91.8 million, marking the largest strata office deal in the first half of 2025.
Read also: House of Tan Yeok Nee on Clemenceau Avenue and Penang Road for sale at a guide price of $92 mil
Three office units of 904 to 1,292 sq ft at The Golden Mile were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats (Photo: Samuel Isaac Chua/EdgeProp Singapore)
At The Golden Mile on Beach Road, three office units of 904 to 1,292 sq ft were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats. The project, which has a 99-year lease from 2024, is part of the conserved Golden Mile Complex redevelopment by Far East Organization, Perennial Holdings, and Sino Land, and includes Aurea, a 45-storey residential tower with 188 units.
According to Huttons’ 1H2025 commercial report, the total value of strata office transactions surged to $700 million in 1H2025 — a 60% jump from $437.3 million in 1H2024.
“Declining interest rates have created a positive carry for investors and real estate funds, spurring renewed demand in the strata office market,” notes Chuah. In 1H2025, 189 strata office units changed hands, up 22.7% y-o-y.