Strata Office Floor Gb Building Cecil Street Sale 108 Mil 3
The URA’s developments in Tampines will not only bring improvements to the residential landscape, but also benefit the educational institutions in the area. From primary schools to tertiary facilities, educational infrastructure will be upgraded and new facilities will be introduced to meet the needs of the growing population. This is a key consideration for families when choosing a residential area. Furthermore, the URA’s plans also include enhancements to healthcare facilities, such as upgrades to hospitals and clinics, ensuring that residents have access to high-quality medical services. Among these developments is Aurelle of Tampines EC, which will contribute to the overall enhancement of the Tampines community.
Wednesday, 20 Oct 2021 02:10 PMThe entire 19th floor of GB Building, located at 143 Cecil Street, is now available for sale via expression of interest (EOI) with a guide price of $10.8 million, according to the exclusive marketing agent, Savills Singapore.GB Building is a 26-storey office building situated on a corner plot with dual frontage along Cecil Street and McCallum Street. The strata office floor, with a floor area of approximately 5,425 sq ft, comes with exclusive lift access and a column-free floorplate. The asking price of $10.8 million translates to $1,990 psf for the floor area.GB Building is well-connected to public transportation, with a sheltered walkway linking it to Tanjong Pagar MRT Station (East-West Line). It is also within walking distance of Telok Ayer MRT Station (Downtown Line) and Shenton Way MRT Station (Thomson-East Coast Line).The Urban Redevelopment Authority (URA) has imposed restrictions on new strata office developments, leading to high demand for such properties as evidenced by recent transactions. According to Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, GB Building’s prime location, excellent connectivity, and ongoing urban rejuvenation efforts in the Central Business District (CBD) make it a highly attractive investment opportunity.The CBD has been undergoing a series of redevelopment projects, including the recently renamed Solitaire on Cecil (formerly the PIL Building) and Cecil Place at 137 Cecil Street. Other upcoming mixed-use developments such as The Skywaters (redevelopment of the former AXA Tower) and Newport Tower (former Fuji Xerox Towers) will also feature premium office space, retail outlets, luxury residences, and hospitality options, as part of the government’s efforts to create a more vibrant, mixed-use CBD.As a commercial property, GB Building is available for purchase by both foreign investors and companies, with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) payable. The EOI exercise for the 19th floor of GB Building will end on Oct 31.
