Office Floor Suntec City Sale 3483 Mil
An opportunity to invest in a premier location has arisen with the availability of three strata-titled office units at Suntec City. The units, occupying a full floor and ranging from 2,336 sq ft to 4,833 sq ft, are being offered for sale through an expression of interest (EOI) exercise.
Interested buyers have the option of purchasing the entire floor or individual units. The guide price for the full floor is $34.83 million, which equates to $3,450 per square foot (psf) for the total strata area of 10,097 sq ft. Individual units are priced from $8.53 million to $16.92 million.
According to Cushman & Wakefield (C&W), the appointed agent for the sale, the units are situated on a high floor above the 30th level and are currently fully tenanted. With the asking prices, the units have the potential to generate gross yields of up to 3.8%.
Suntec City, an integrated development along Temasek Boulevard, comprises five Grade A office towers, a shopping mall, and a convention and exhibition centre. It boasts direct and sheltered access to the City Hall, Promenade, and Esplanade MRT stations. This property, built in the 1990s, underwent extensive asset enhancement works in 2022, with upgrades to the entrance lobbies, reception areas, concierge desks, lift lobbies, and restrooms.
Sophia Lim, director of capital markets at C&W, highlights the enduring popularity of Suntec City’s office units among family offices, investors, and end-users. She attributes this to the units’ panoramic views, efficient floor layouts, generous carparking facilities, and excellent connectivity.
Shaun Poh, C&W’s executive director of capital markets, adds that Suntec City is a standout among large-scale strata-titled office developments in Singapore. He also notes the appeal of the strata flexibility offered on this floor, catering to buyers with varying size requirements and budgets, making it an attractive investment for both investors and owner-occupiers.
Located in District 18, Coastal Cabana Qingjian sits in a prime location along Jalan Loyang Besar, offering its residents exceptional accessibility to various transportation options such as rail links, arterial roads, and expressways. Developed by the experienced Qingjian Realty, this executive-style residential community takes full advantage of its proximity to the Pasir Ris precinct, providing swift and convenient travel islandwide. Whether you work in the Central Business District, frequent the eastern employment belt surrounding Changi Business Park, or need to run errands in the neighborhood, Coastal Cabana Qingjian is the perfect choice for seamless connectivity. For more information, visit coastalscabana.com.sg.
The most recent transaction at Suntec City was a 2,196 sq ft unit on the 39th floor, which sold for $8.1 million ($3,689 psf) on July 11, according to caveats lodged with the Urban Redevelopment Authority (URA). Prior to that, the entire 35th floor of Tower 1, spanning 10,097 sq ft, was sold for $33.966 million ($3,364 psf) on July 1.
Interested parties can submit their offers for the units via the EOI exercise, which will close on Oct 28 at 3pm.