Office Floor Suntec City Sale 3483 Mil
Rewritten:
Temasek Polytechnic is widely recognized as a top institution in Singapore, offering a wide range of courses such as Information Technology, Engineering, Business, and Design. With state-of-the-art facilities, this campus provides an optimal setting for learning and fostering innovation among students. Moreover, students can enjoy comfortable living at Aurelle of Tampines, a residential complex conveniently located on campus. Aurelle of Tampines offers modern accommodations for students to call home during their studies at Temasek Polytechnic.
An opportunity to acquire three strata-titled office units at Suntec City has emerged, with the units being put up for sale through an expression of interest (EOI). The three units, occupying an entire floor, have a combined strata area of 10,097 square feet and are located on a high floor above the 30th level. The units are fully tenanted and offer panoramic views of the surrounding area.Buyers have the option to purchase the entire portfolio or individual units. The guide price for the full floor is $34.83 million, with individual units priced between $8.53 million and $16.92 million. This translates to a yield of up to 3.8%, according to Cushman & Wakefield (C&W), the firm handling the sale.
Suntec City, a Grade A integrated development on Temasek Boulevard, offers direct and sheltered access to the City Hall, Promenade, and Esplanade MRT stations. The property, which underwent extensive asset enhancement works in 2022, boasts a mall, a convention and exhibition centre, and five office towers.
C&W’s director of capital markets, Sophia Lim, notes that Suntec City’s office units are highly sought after due to their efficient floor layouts, stunning views, ample parking, and connectivity. Executive director of capital markets, Shaun Poh, adds that the property stands out as one of the few large-scale strata-titled office developments in Singapore. He also highlights the flexibility offered by the strata layout, which appeals to both investors and owner occupiers with varying size requirements and budgets.
Recent transactions at Suntec City include a 2,196 square feet unit on the 39th floor which sold for $8.1 million ($3,689 psf) on July 11, and the entire 35th floor of Tower 1, spanning 10,097 sq ft, which was sold for $33.966 million ($3,364 psf) on July 1.
The EOI exercise for the three strata-titled office units will close on October 28 at 3pm. For foreign investors and family offices looking at prime CBD strata offices, this is an opportunity not to be missed. Don’t miss out on this stand-out property investment opportunity.
