10 Strata Office Units In The Plaza Selling S$7.44m In All
SINGAPORE – A bundle of ten neighbouring strata office units on the 9th floor of The Plaza, an integrated commercial property at Beach Road, has been launched for sale through an expression of interest (EOI) exercise with an indicative total price of S$7.44 million, reported The Edge on Thursday afternoon (9 March, SGT).
The total guide price translates to about S$1,600 psf based on the 4,650 sq ft overall gross floor area (GFA) of the ten strata office units.
Real estate consultancy CBRE’s Head of capital markets in Singapore, Michael Tay, remarked that “given the strategic location of The Plaza, we expect strong interest from both investors and owner-occupiers for these strata office units.”
The Plaza is a 30-storey mixed-use project that consists of strata office units, a hotel, apartments, a retail podium, and serviced suites. It’s also just a stroll from two MRT stations, namely Bugis and Nicoll Highway.
CBRE’s Associate Director of capital markets in Singapore, Joshua Giam, noted that the bundle of strata office units gives commercial property investors a chance to benefit from the transformation of the Beach Road/Bugis office submarket.
“The strong office leasing performance in new buildings such as Guoco Midtown, which has secured a diversified mix of tenants from sectors such as financial services, automobile, shipping, and chemical, is testament to the attractiveness of this location and we expect demand for office spaces to further strengthen,” he added.
The EOI exercise for the portfolio of 10 adjacent strata office units in The Plaza will close at 3pm on 11 April 2023.