Four high-floor office units at Suntec Tower Two on the market for $33 mil

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/ EdgeProp Singapore
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November 12, 2020 2:30 PM SGT
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SINGAPORE (EDGEPROP) - Four contiguous office units at Suntec Tower Two are available for sale with a guide price of $33 million. The office units of 9,989 sq ft comprise the entire 42nd floor which is the third highest floor in the office tower. Savills Singapore is the sole marketing agent for the sale of the office units.
The guide price translates to an average price of $3,303 psf on the strata office area. The portfolio of four strata office units is offered for sale collectively and with existing tenancies. The sale of open to foreigners and companies, and additional buyers stamp duty or sellers stamp duty will not be imposed on the sale.
Suntec-Actual-View - EDGEPROP SINGAPORE
The actual view from the office units on sale. The office units on sale are located on the 42nd floor, and the price is $3,303 psf on the strata area. (Picture: Savills Singapore)
Suntec Tower 2 is part of Suntec City, one of the largest integrated developments in Singapore. The entire development comprises five Grade-A office towers, a shopping mall, and an exhibition centre. Pedestrian link bridges and underpasses connect the development to neighbouring buildings in the Marina Centre area. Suntec City is also connected to three MRT stations, namely City Hall Interchange, Promenade station, and Esplanade station.
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The office layout in Suntec Tower 2 is arranged around a central service core, and this design allows for maximum views and natural light. The layout does not feature internal columns to ensure efficient office space planning. In addition, Suntec Tower 2 is undergoing asset enhancement works that includes upgrading the entrance lobby, reception, and concierge areas, as well as the lift lobbies and restrooms.
Suntec Tower 2 - EDGEPROP SINGAPORE
Suntec Tower 2 is onne of five Grade-A office towers in Suntec City, which also comprises a shopping mall and an exhibition centre. (Picture: Savills Singapore)
“The offices on the high floors of Suntec City are always extremely sought after, as it is arguably the only strata office development which offers unobstructed views of the city skyline and waterfront. This is an extremely rare opportunity to acquire one of the highest floors with panoramic views of the Marina Bay Financial District, city skyline, Kallang River and Singapore Sports Hub,” says Galven Tan, deputy managing director of investment sales & capital markets at Savills Singapore.
The entire office floor is fully leased to multinational companies, and the rental is expected to offer an investor strong tenant covenants and immediate rental income, says Tan. He adds that two of the tenants have recently renewed their tenancies.
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