Training centre space in Paya Lebar Square going for $6.1 mil

By
/ EdgeProp Singapore
|
May 19, 2020 5:45 PM SGT
SINGAPORE (EDGEPROP) - A training centre space in Paya Lebar Square is on the market for $6.1 million, and is offered for sale by private treaty, says the marketing agent Knight Frank.
The asking price for the high-floor unit on the market translates to $2,276 psf, and recent office units at Paya Lebar Square have been sold at between $1,800 and $2,000 psf, says Knight Frank.
EdgeProp Singapore: The training space comprises two adjacent units with a total floor area of 2,680 sq ft
The training space comprises two adjacent units with a total floor area of 2,680 sq ft. (Picture: Knight Frank)
Paya Lebar Square is a six-year-old commercial development that is linked to Paya Lebar MRT Interchange on the East-West and Circle lines. The development features a 10-storey, strata-titled, office tower, and a three-story retail podium. Nearby commercial developments include Paya Lebar Quarter and SingPost Centre.
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The training centre comprises two adjoining units with a total floor area of 2,680 sq ft. The space is fitted to conduct classes for working adults, but it can be easily converted into a corporate office with meeting rooms and workspaces.
The set-up, layout, and teaching equipment also make the property suitable for immediate occupation and operation by training and educational-centre operators, says Mary Sai, executive director of investment and capital markets at Knight Frank Singapore.
The space could be ready for immediate use by training and educational centre operators (Picture: Knight Frank)
“As safe distancing and work-from-home measures take place in light of current circumstances, smaller offices in suburban areas with good transport connectivity will appeal to companies looking to downsize as a cost-saving measure, or have satellite offices as part of business continuity plans after the two-month circuit breaker period,” she says.
Check out the latest listings near Paya Lebar Square, Paya Lebar Quarter and Paya Lebar MRT
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