10 Office Units In International Plaza Up For Grabs
SINGAPORE – Marketing agent Edmund Tie & Company announced that a portfolio of 15 commercial units in International Plaza has been put up for sale via an Expression of Interest (EOI) exercise at a total guide price of S$60 million, according to a press release published on Tuesday afternoon (27 September, SGT).
The 15 commercial units comprise 10 office units and 5 shops units that have a combined strata area of about 18,482 sq ft.
The office component consists of 6 neighbouring units on the 29th floor and 4 adjacent units on level 31. Their sizes range between 936 sq ft and 2,336 sq ft.
As for the shop units, these are situated within a high footfall area on the ground level thanks to their prominent frontage close to International Plaza’s primary entrance of. The 5 shops, which spans from 241 sq ft to 1,421 sq ft, are all approved for food and beverage (F&B) use.
Interested buyers have the option to purchase individual strata units or the entire portfolio. Given that portfolio comprises commercial units, the buyer doesn’t have to pay any Seller’s Stamp Duty (SSD) nor Additional Buyer’s Stamp Duty (ABSD). Foreigners are also permitted to buy commercial properties here.
“With URA’s recent announcement on the restriction of strata subdivision of commercial developments in the Central Area, there is a limited supply of quality strata shop and office space available for sale in Singapore’s central business district (CBD),” commented Edmund Tie’s Head of Investment Advisory Swee Shou Fern.
“As such, these assets present a rare opportunity for investors, such as family offices, real estate funds, and high-net-worth individuals to acquire prime strata commercial units in the CBD and enjoy an immediate and stable source of recurring income.”
The EOI for the 15 commercial units in International Plaza will close at 3pm on 1 November 2022.