Mortgagee sale: Suntec City strata office unit going for $6.7 mil
Developed in the mid-1990s, Suntec City has five Grade A office towers, a mall, as well as a convention and exhibition centre (Photo: Samuel Isaac Chua/EdgeProp Singapore)
A 2,142 sq ft strata office unit at Suntec Tower One, in Suntec City, will be on the block at Knight Frank’s next property auction on April 23 in a mortgagee sale. The property has a guide price of $6.7 million, which translates to $3,128 psf based on the strata area.
According to Sharon Lee, executive director of auction and sales at Knight Frank Singapore, this is the first time the property will be auctioned. It will be sold with its existing tenancy, which will generate a rental yield of more than 3.3%, based on its guide price.
The unit features a column-free layout, which is typical of units in Tower One, allowing for efficient workstation configurations and collaborative spaces, adds Lee.
The 2,142 sq ft unit has a column-free layout, allowing for efficient workstation configurations and collaborative spaces (Photo: Knight Frank)
Caveats show that the unit for sale last changed hands for about $4.61 million, or $2,150 psf, in November 2019. Lee expects the property to attract interest from both investors and end-users, amid a shortage of new strata-titled office supply due to URA restrictions.
As a commercial property, the unit is not subject to additional buyer’s stamp duty, and is open to foreign buyers.
Suntec Tower One is one of Suntec City’s five Grade A office towers. Developed in the mid-1990s, the integrated development on Temasek Boulevard also features a retail mall, as well as a convention and exhibition centre.
Suntec City underwent extensive asset enhancement initiatives in 2022, including upgrades to entrance lobbies, reception areas, concierge desks, lift lobbies and restrooms.
The development benefits from sheltered access to nearby transport nodes, including City Hall, Promenade and Esplanade MRT stations, providing links to the North-South, East-West, Downtown and Circle lines. It is also connected to major expressways such as the East Coast Parkway, Ayer Rajah Expressway and Pan Island Expressway.
Based on lodged caveats, Suntec Tower One saw seven transactions last year, at an average resale price of $3,279 psf. The most recent transaction there was the sale of a 2,196 sq ft unit on the 39th floor for $8.1 million ($3,689 psf) in July 2025.
Other resale transactions at the tower ranged from $2,956 psf, when a 2,131 sq ft unit on the 19th floor fetched $6.3 million in March 2025; to $3,364 psf, which came from the resale of an office floor, comprising three strata units measuring 10,097 sq ft, for $33.96 million in July 2025.
Other strata offices at Suntec City have also been put up for sale recently. Last month, a pair of strata office units at Suntec Tower One were launched for sale through an expression of interest exercise, which will close on May 5. The adjoining units, which have a total strata area of 7,395 sq ft, have a guide price of $22.04 million ($2,980 psf).
Earlier this month, three full office floors were put on the market, comprising the 27th floor at Suntec Tower One and the 12th and 13th floors at Suntec Tower Two. The portfolio consists of five individual strata titles with a combined area of 40,300 sq ft. It has a guide price of $135 million, which works out to $3,350 psf.
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