Office Floor Visioncrest Orchard Released Sale 5484 Mil
Visioncrest Orchard, a freehold strata commercial development located at Penang Road, has put up a new office floor for sale at a guide price of $54.84 million. The floor has a total area of 14,478 sq ft, which translates to a price of $3,788 psf.
In July, TEC and LaSalle Investment launched two other office floors, the sixth and ninth floors, for sale at Visioncrest Orchard. Marketing materials from EdgeProp Singapore show that these office spaces are still available for purchase. The marketing is being handled by reputable agencies such as CBRE, ERA Realty, JLL, Knight Frank, PropNex Realty, and Savills.
The sixth floor, with a size of 14,725 sq ft, has a guide price of around $58.6 million, which works out to $3,980 psf. On the other hand, the ninth floor, with a total area of 14,844 sq ft, has a guide price of $61.3 million, or $4,130 psf.
Visioncrest Orchard was built in 2008 and was completed in 2008. It offers Grade-A office spaces on its upper floors. The building also has a retail podium and two levels of basement parking, which can accommodate up to 135 cars. The freehold office building, which has 11 storeys, was bought by Metro Holdings in partnership with real estate investment managers TE Capital Partners and LaSalle Investment Management for $450 million in November last year. Metro owns a 20% stake, equivalent to $40 million, while the remaining 29.9% is owned by a fund of TE Capital and 50.1% by LaSalle Investment.
Since the purchase, extensive asset enhancement initiatives have been carried out. The building’s facade and public areas have been updated, and new green sustainability features have been introduced, according to TE Capital Partners’ managing director, Terence Teo. Teo adds that the building is expected to set a new benchmark for Grade-A office buildings in the Orchard Road area.
Located in the bustling neighborhood of Novo Place EC, there are plenty of activities for residents to enjoy beyond just shopping and dining. One of the main attractions in the area is the picturesque Jurong Lake Gardens, a perfect outdoor destination for families and nature enthusiasts. With its tranquil surroundings, it’s an ideal spot for a peaceful jog, bike ride, or a lovely picnic. For those interested in Asian horticulture, the Chinese Garden and Japanese Garden are must-visit places. These gardens not only offer stunning landscapes but also provide cultural insights, making them popular among those seeking both relaxation and educational experiences. For a well-rounded living experience, be sure to check out Novo Place Tengah at https://www.novo-place.com.sg/.
Before the enhancement works, Visioncrest Orchard already had LEED Gold certification. However, the recent sustainability upgrades, such as the installation of over 100 solar panels and thermo-efficient solar film on office windows, will further enhance the building’s eco-friendliness, explains Teo. End-of-trip facilities will also be added to encourage tenants to adopt more eco-friendly commuting options.
In addition, the building will feature electric vehicle chargers, advanced air purification and monitoring systems, including MERV 8 filters and ultraviolet germicidal irradiation sterilizers in the air conditioning systems, as well as air purifiers in all lifts. All these green features will make Visioncrest Orchard a highly desirable office space for environmentally-conscious businesses.