Office floor at Springleaf Tower for sale at $29.5 mil

By Amy Tan / EdgeProp Singapore | June 26, 2019 2:41 PM SGT
An entire office floor at Level 30 of Springleaf Tower on Anson Road is up for sale via an expression of interest (EOI) exercise with a guide price of $29.5 million ($2,746 psf). CBRE is the exclusive marketing agent.
Spanning 10,742 sq ft of strata area, the office space has unblocked panoramic sea views and comes with exclusive use of the lift lobby, restrooms and pantry. The space will be sold on a vacant possession basis. There will be no additional buyer’s stamp duty (ABSD) or seller’s stamp duty.
An entire office floor at Level 30 of Springleaf Tower on Anson Road is up for sale with a guide price of $29.5 million (Credit: CBRE)
The 37-storey Springleaf Tower features Grade-A office specifications and has a drop-off point on the second floor. It also has 131 carpark lots spread across Levels 3 to 5. Each office floor has a wide entrance frontage as well as raised flooring, good floor-to-ceiling height and variable refrigerant flow (VRV) air-conditioning which allows for independent floor operation.
The property is connected to Tanjong Pagar MRT Station on the East-West Line via an underground walkway. Within proximity are F&B offerings such as Amoy Street Food Centre, Maxwell Food Centre, and Lau Pa Sat Centre.
“Office floors within Springleaf Tower are tightly held by a very small number of owners, and the opportunity to acquire one full floor located on a high-floor offering unblocked sea views is rare and hard to come by,” says Jeremy Lake, managing director, capital markets at CBRE.
He highlights that the last transaction in Springleaf Tower was recorded in June last year when the 22nd floor was sold at $2,602 psf, setting a new price benchmark for the building.
“In addition to the ongoing rejuvenation, the government’s development plans for Tanjong Pagar as the next waterfront city will have a positive knock-on effect on both capital and rental values of existing developments,” he adds.
The EOI exercise closes on Aug 1 at 3pm.