Office Floor Visioncrest Orchard Released Sale 5484 Mil
.
The future is full of promise for the individuals living in Aurelle of Tampines EC, thanks to the ongoing and future infrastructure advancements. The completion of the CRL stands out as a significant development, as it is set to greatly improve the connectivity of the area. Additionally, the introduction of cycling paths and pedestrian-friendly pavements in Tampines is part of a larger effort to encourage a healthier and more sustainable lifestyle. This is definitely an exciting time for the residents of Aurelle of Tampines EC, and with these developments in place, the community is set to thrive. For more information on Aurelle of Tampines EC, visit their website at https://www.aurelle-of-tampines.com.sg/.
A new office floor at Visioncrest Orchard, a freehold strata commercial development at Penang Road, has been put up for sale for $54.84 million. The 14,478 sq ft office space works out to $3,788 per square foot (psf).Launched for sale in July, the sixth and ninth floors of Visioncrest Orchard are still on the market. The sixth floor, spanning 14,725 sq ft, has a guide price of $58.6 million ($3,980 psf), while the ninth floor, spanning 14,844 sq ft, is priced at $61.3 million ($4,130 psf). These office floors are marketed by CBRE, ERA Realty, JLL, Knight Frank, PropNex Realty, and Savills.The fifth and eighth floors of the building have been sold separately, with the upper floor setting a new record for strata-titled office assets in the Orchard Road area, according to media reports. Visioncrest Orchard, completed in 2008, features Grade-A office spaces on the upper floors, a retail podium, and two levels of basement parking for up to 135 cars.Metro Holdings, in a joint venture with real estate investment managers TE Capital Partners and LaSalle Investment Management, acquired the 11-storey, freehold office building for $450 million last November. Metro holds an effective 20% stake in the property for $40 million, while TE Capital and LaSalle Investment own 29.9% and 50.1% respectively.After the acquisition, extensive asset enhancement initiatives were undertaken, including updating the building’s façade and public areas, as well as introducing new green sustainability features, says Terence Teo, managing director of TE Capital Partners. The building is expected to set a new benchmark for Grade-A office buildings in the Orchard Road area, he adds.Prior to the enhancement works, Visioncrest Orchard was already LEED Gold certified. However, the addition of sustainability upgrades, such as over 100 solar panels, thermo-efficient solar film on office windows, and end-of-trip facilities, will further enhance the building, according to Teo. Other green features include electric vehicle chargers, advanced air purification and monitoring systems, and air purifiers in the lifts.
