3 Strata Office Units Available At SBF Centre
SINGAPORE – Three neighbouring strata office units on level 13 of the SBF Centre have been offered for sale through an expression of interest (EOI) exercise, with indicative prices ranging from S$2.25 million to S$2.44 million, reported The Edge on Tuesday afternoon (6 June, SGT).
The guide prices translate to an average rate of S$3,600 psf, with the adjacent office units measuring from 624 sq ft to 678 sq ft
“The assets are ideal for those who want their own space in the CBD and investors seeking stable rental returns,” noted Mary Sai, Executive Director of Capital Markets at marketing agent Knight Frank Singapore.
“In the present high-interest rate environment, more investors are relying less on debt, preferring to acquire smaller quantum assets, like these”.
Notably, SBF Centre is a 99-year leasehold commercial property along 160 Robinson Road in Singapore’s central business district (CBD). The Platinum Green Mark building comes with a pool, a medical centre, a roof garden, and modern office space. The flexibly configured office units cater to different business needs, from small and medium enterprises (SMEs) to large multinational corporations (MNCs).
Apart from being near the Tanjong Pagar MRT Station, the commercial property is accessible via Robinson Road, North Bridge Road, and the Keppel Viaduct.
The EOI exercise for the strata office units at the SBF Centre will close on 27 June 2023.
According to figures from Knight Frank, 54 strata office units were sold in Singapore for a total of S$126.4 million during the first three months of the year. While this represents a 15.7 percent growth in transaction volume, it’s lower than the S$150 million recorded in the same period last year. The real estate consultancy revealed this buying interest comes amidst an uncertain global economic outlook and rising interest rates.
Sai added that several factors have sustained the demand for strata office units in Singapore’s CBD.
“The recent cooling measures targeted at residential properties, open borders throughout the Asia Pacific region, restrictions on subdivision of newer commercial buildings in select parts of CBD, and the limited supply of strata offices will likely draw investor demand to commercial properties,” she added.
