999 Year Leasehold Office Floor Beach Road Market 56 Mil
A 2,530 sq ft strata office floor located at Evershine & Century Complex on Beach Road has been put up for sale at a price of $5.6 million. The unit, which has a 999-year leasehold, will be marketed through an expression of interest (EOI) exercise managed by CBRE Singapore.
Situated in a five-storey commercial development, Evershine & Century Complex features retail shops on the ground floor and offices on the upper levels. The unit in question is situated on the fourth floor and has a regular floor plate, accessible by a passenger lift. CBRE has stated the guide price to be equivalent to $2,213 per square foot on the strata area.
In addition to its prime location in Bugis, Evershine & Century Complex is conveniently situated near four MRT stations – Bugis, City Hall, Esplanade, and Bras Basah. It is also well-connected to major roads and expressways such as Nicoll Highway, Central Expressway, and East Coast Parkway.
Michael Tay, head of capital markets, Singapore, at CBRE, states that he expects strong interest from both investors and owner-occupiers for this office space due to its strategic location. He highlights the rarity of the opportunity to own a 999-year strata office floor in the prime Bugis area at a reasonable price.
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Tay also emphasizes the potential for investors and end-users to capitalize on the development of Bugis into a key commercial hub near the CBD. With upcoming projects like The M, Shaw Towers, and the redevelopment of Golden Mile Complex in the vicinity, he believes this property presents a promising opportunity for both investors and occupiers.
The EOI exercise for the sale of the strata office floor will close on Feb 7, according to sources from EdgeProp LandLens.