Entire office floor at Suntec City Tower Two up for sale at $36 mil
By Hailey Yu / EdgeProp Singapore | July 13, 2022 2:51 PM SGT
Suntec City Towers (Credit: Samuel Isaac Chua/ The Edge Singapore)
SINGAPORE (EDGEPROP) - An entire office floor measuring 9,898 sq ft, comprising four strata titles, has been put up for sale at Suntec City Tower Two at an indicative price of $36 million, or $3,600 psf, according to a press release from Knight Frank on July 12. Knight Frank is appointed as the exclusive marketing agent.
“The column-free and regular shape offers flexibility and efficiency in layout planning,” says Mary Sai, executive director of capital markets at Knight Frank.
Both locals and foreigners are eligible to buy, with no additional buyer’s stamp duty nor seller’s stamp duty imposed on the purchase.
Sai anticipates demand for offices at Suntec City to be robust. “One unit on level 30 at Tower Two was transacted for $38.75 million, or $3,300 psf, last month. Two other units at Level 19 and 28 at Tower One were also sold at $3,300 psf and $3,280 psf respectively in the month of April,” she observes.
“The supply of good-sized strata units in prime areas will be limited, given recent government measures to restrict strata subdivision of commercial or mixed-use developments in the Central area,” says Daniel Ding, the head of capital markets at Knight Frank. (Find Singapore commercial properties with our commercial directory)
Buyers have the option to purchase individual strata lots, Sai adds.
Suntec City is a mixed-use development consisting of five Grade-A office towers, Singapore’s second largest retail mall and a convention and exhibition centre. Located within the CBD, it is accessible via the East Coast Parkway, Central Expressway and Nicoll Highway. Suntec City has good linkages via sheltered walkways and underground linkages to City Hall MRT Station (on the North-South and East-West Lines), the Esplanade MRT Station (on the Circle Line) and Promenade MRT Station (on the Circle and Downtown Lines).
Check out the latest listings near Suntec City Tower, Suntec City, City Hall MRT Station, Esplanade MRT Station, Promenade MRT Station
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