Office Floor Suntec Tower 1 Sale 428 Mil

A 12,045 sq ft strata office floor situated at Suntec Tower 1, part of the prestigious Suntec City development, is now available for purchase at an indicative guide price of $42.8 million. The guide price equates to a prime price of $3,553 per square foot.

This office floor, located on the 27th floor, was last sold in June 2021 for $31.72 million ($2,634 psf) based on resale caveats. It is currently being marketed by JLL through an expression of interest (EOI) exercise until Aug 20. The sale is open to local and foreign buyers, and will not be subject to additional buyer’s stamp duty or seller’s stamp duty.

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The strata office floor boasts a regular and flexible floor plan, consisting of seven individual units. It is currently partially tenanted, making it suitable for both investors and occupiers. Potential buyers have the option to continue leasing out the space or occupy it themselves.

According to Terry Wong, senior director of JLL Singapore’s Capital Markets, the size and layout of the floor offer great potential for subdivision or amalgamation, catering to the needs of future tenants. Furthermore, the floor is divided into three separate strata titles, providing a potential exit strategy for buyers.

The office floor also boasts breathtaking views of the Marina Bay area and the city skyline. Suntec City is a prime integrated development, comprising five Grade-A office towers, a retail mall, and a convention center. It enjoys direct access to multiple MRT stations such as Promenade, Esplanade, and City Hall and is conveniently connected to major highways, including the East Coast Parkway, Ayer Rajah Expressway, and Pan Island Expressway.

In December 2020, a 10,312 sq ft penthouse office floor on the 44th floor of Suntec City Tower 3 was sold for $36.23 million ($3,513 psf) under the guidance of JLL’s Terry Wong. Recent transactions at Suntec City include a 3,078 sq ft unit on the 37th floor of Tower 1, which sold for $11.5 million ($3,736 psf) on June 20, and a 4,779 sq ft unit on the 22nd floor of Tower 3, which was transacted for $15.3 million ($3,200 psf) on June 7.

Wong notes that demand for strata office units at Suntec City remains strong, with limited supply of Grade-A office buildings that offer desirable features such as drop-off points, car parks, views, and amenities.