Two consecutive office floors at Springleaf Tower up for sale at $54.75 mil
By Hailey Yu
Springleaf Tower, with floors 27 and 28 up for sale at $54.75 mil (Source: JLL)
SINGAPORE (EDGEPROP) - Two contiguous floors of strata-titled office space in Springleaf Tower, on Anson Road, have been launched for sale by expression of interest. The two floors are being sold at a guide price of $54.75 million, which translates to $2,600 psf on the strata area.
Map and Overview of Springleaf Tower (Source: EdgeProp Inspector)
Each floorplate has a strata area of 10,627 sq ft, with the two floors for sale (levels 28 and 29) totalling 21,054 sq ft of strata office space.
According to JLL, which has been appointed as the exclusive marketing agent for the sale, the property was previously occupied by United Overseas Insurance. The company has since moved to its own building at Robinson Road, leaving the property vacant.
Completed in 2002, Springleaf Tower is a 37-storey, Grade-A office building with frontage along Anson Road. It has direct connectivity from Tanjong Pagar MRT Station (on the East-West Line) via sheltered walkways, and will be a five-minute walk away from the upcoming Prince Edward Road MRT Station (on the Circle Line) which is expected to be completed in 2026.
Foreigners are eligible to buy the property, and there is no additional buyer’s stamp duty or seller’s stamp duty levied. Buyers can purchase the floors separately or together.
Recent Transaction Data (Source: EdgeProp Inspector)
Carin Puah, senior director, capital markets, at JLL Singapore, notes that the currently vacant property gives buyers the option to occupy it or lease it out for rental income. The property also presents a rare opportunity “to acquire prime office space on high floors offering excellent city and sea views”.
The expression of interest exercise will close on May 20 at 3pm.
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