Freehold strata office floor at Sim Lim Tower for sale at $15 mil

By Amy Tan / EdgeProp Singapore | June 26, 2019 2:21 PM SGT
A strata office floor at Sim Lim Tower in Jalan Besar has been put up for sale by tender with an asking price of $15 million ($1,791 psf), according to sole marketing agent Edmund Tie and Co (ET&Co).
Located on the 15th storey of the 17-storey building, the space is approximately 8,374 sq ft. It offers a panoramic view of the surrounding shophouses and city skyline.
Sim Lim Tower is right beside Jalan Besar MRT Station on the Downtown Line (Credit: ET&Co)
“This offering of a freehold strata office floor presents an attractive and rare opportunity to buy into the rising office sector as well as its strategic city fringe location in the exciting Beach Road/Ophir-Rochor Corridor,” says Swee Shou Fern, ET&Co’s executive director of investment advisory.
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Sim Lim Tower is next to Jalan Besar MRT Station on the Downtown Line and within 600 metres to Rochor MRT Station, Bugis MRT Interchange and Little India MRT Station. This provides access to the Downtown, East-West and North-East Lines. Amenities nearby include the Albert Centre Market and Food Centre, hotels, and the upcoming Tekka Place – a retail mall with 320 serviced residences.
The property will also benefit from the ongoing rejuvenation of the Beach Road/Ophir-Rochor Corridor. This area is expected to become a vibrant mixed-use cluster with new and upcoming developments such as DUO, South Beach, Guoco Midtown, Tekka Place and the new Shaw Tower.
As Sim Lim Tower is zoned for commercial use, it is not subject to additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD), and is eligible for purchase by local and foreign buyers.
Swee adds: “Coupled with its freehold tenure and commanding views, we expect strong interest from both investors and end-users seeking assets with long-term investment value.”
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The tender will close on July 23 at 3pm.