Two strata office floors at Raffles Place for sale at $30 mil

2 Nine hundred Ninety Nine yr rent period strata office space floors at TPI Bldg on Cecil Street are recently up for sale by using expression of interest at an expressive price of $Thirty million.

CBRE is undoubtedly the special advertising and marketing professional for the commercial property.

Both stories offer for sale are located at the top two levels of the six-storey office complex. All story owns a strata surface area of 3thousand 9hundred 29 square feet as well as presents a column unobstructed layout.

Together, both the stories own an entire strata surface area of 7,858 square foot, which represents Thirty One percentage of the complete strata size of the project. Based in the entire strata surface area, the a sign price tag convert to $Three thousand Eight hundred Eighteen psf.

Conceding to CBRE, the 2 storeys, that feature occurring contracts, are simply to be offered at the same time or singularly. Immigrants are allowed to purchase without additional buyer’s tax or seller’s tax troubled the business building transaction.

Clemence Lee, Snr director, capital markets, S’pore, at CBRE, mentions such that the property is without a doubt an unusual opportunity and forecasts robust passion for both levels.

The Watergardens Condo Price

“Presently there are only a small number of 9hundred 99 yr or freehold strata office space buildings nestled within the CBD. Over the years, the majority of these types have actually been acquired by wealthy consumers or family group office spaces for permanent financial investment,” he beefs up.

He as well brings up that within URA’s Master Plan 2K19, TPI bldg has an optimum plot ratio of 12.6. “Offered the existing under-utilised plot ratio of 6.8 and by having merely 3 more property owners among the property, there certainly is opening for all of the proprietors to arrive all together to either collectively redevelop or maybe revamp the structure or to enter a en-bloc,” he summarizes.

TPI Building stands somewhere between Telok Ayer MRT Terminal plus Raffles Place MRT Interchange, each of which are merely lower than a five-minute walk off. The bldg is equally nearby Food and beverage amenities including Lau Pa Sat plus the Amoy/Telok Ayer St eating territory.

The expression of interest exercise are going to conclude on March24 at 1500hrs.

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