Two strata office floors at Raffles Place for sale at $30 mil
2 999 yr leasehold strata business office stories at TPI Bldg at Cecil St are put up for purchase by means of expression of interest at an expressive rate of $Thirty mil.
CBRE is simply the unique advertising and marketing professional for the commercial property.
Both floors to buy are nestled at the peak 2 levels in the 6 floor office space building. Respective level has a strata surface area of 3,929 square feet as well as offers a columnless structure.
Collectively, both the storeys come with a complete strata area of 7thousand 8hundred 58 square feet, in which calculates to 31 percentage of the total strata surface area of the property development. Based at the complete strata surface area, the expressive value interpret to $Three thousand Eight hundred Eighteen per square feet.
Confering to CBRE, both stories, in which carry existing tenancies, are simply to become promoted jointly or separately. Immigrants are allowed to invest in without additional buyer’s stamp duty or seller’s tax enforced on the commercial asset sale.
Clemence Lee, senior director, capital markets, SGP, at CBRE, states that the property is certainly a rare possibility and even anticipates robust enthusiasm for the 2 levels.
“Generally there are basically a handful of 999 year or freehold strata office complex positioned amongst the CBD. For many years, the majority of these types have already gotten invested in by wealthy professionals or family unit workplaces for long-lasting financial investment,” he says further.
He as well explains that under URA’s Master Plan 2K19, TPI building carries a highest plot ratio of 12.6. “Granted the current under-utilised PR of Six point Eight furthermore alongside just three various other property owners among the building, there certainly is chance for all the property owners to appear as one to probably mutually redevelop or perhaps restore the facility or to start a enbloc,” he spells out.
TPI Bldg is found in between Telok Ayer train Terminal plus Raffles Place MRT Interchange, both of which are no more than a five min walk away. The bldg is likewise in close proximity to Food & Beverage amenities including Lau Pa Sat plus the Amoy/Telok Ayer Street eating area.
The EOI activity will terminate on 24March in 3 in the afternoon.