Two strata office floors at Suntec Tower 2 going for $76 mil

By
/ EdgeProp Singapore
|
February 3, 2021 5:34 PM SGT
SINGAPORE (EDGEPROP) - Two floors of strata offices at Suntec Tower 2 have been put up for sale via an Expression of Interest (EOI) exercise by Cushman & Wakefield.
The office spaces are located on the sixth and 11th floors and each has a strata floor area of about 14,381 sq ft. The guide price for the properties is $76 million which translates to an average price of $2,642 psf on the strata area.
The office units on the two floors are currently leased to multinational corporations which will provide the incoming purchaser with an immediate rental income. The properties can be purchased jointly or separately, says Cushman & Wakefield.
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C-W-Suntec-Tower2 - EDGEPROP SINGAPORE
The strata office floors that are up for sale are located on the 6th and 11th floors at Suntec Tower 2. (Picture: Cushman & Wakefield)
Suntec City is an integrated, mixed-use development with five Grade-A office towers, a mega retail podium that spans all towers, as well as a world-class convention and exhibition centre. The development is centrally located and has direct access to the Promenade, Esplanade, and City Hall MRT stations.
Suntec Tower 2 is undergoing asset enhancement works for the entrance ad reception areas, lift lobbies and restrooms.
“Strata offices in Suntec City are highly sought after due to the asset’s convenient location, column-free layout, wide spectrum of amenities at its doorstep,” says Shaun Poh, executive director of Capital Markets at Cushman & Wakefield.
C-W-Suntec-Tower2 - EDGEPROP SINGAPORE
Strata offices at Suntec City are highly sought-after given their central location, nearby amenities, and wide column-free office layout, says Poh. (Picture: Cushman & Wakefield)
He adds that “given Suntec’s stellar reputation as a Grade A commercial development that consistently attracts the very best MNCs to set up shop, investors are always on the look out to acquire such prime assets.”
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The EOI exercise will close on March 10.