4 Strata Offices In Paya Lebar Square Up For Grabs
SINGAPORE – A portfolio of 4 adjacent strata office units situated on Paya Lebar Square’s 9th level have been launched for sale by marketing agent Savills Singapore, reported The Business Times on Tuesday afternoon (27 October).
The commercial properties are being divested as a group with an indicative price of S$23.5 million. Based on their combined strata area of roughly 10,785 sq ft, the guide price translates to about S$2,179 psf.
Located strategically within the heart of Paya Lebar Central with roofed access to the Paya Lebar MRT station, Paya Lebar Square is a mixed-use development consisting of a 3-storey retail podium, on which stands a 10-storey Grade A office tower.
Paya Lebar Central’s office component is the sole strata-titled office building with Premium Grade specs in the area, said Savills Singapore’s Deputy Managing Director for capital markets & investment sales Galven Tan.
The commercial properties are ideal for both occupiers and property investors, noted Tan, adding that these can function as city fringe satellite offices as companies look to distribute their staff in a post-pandemic world.
Aside from that, the Grade A office units have triple facings with unobstructed majestic views thanks to their floor to ceiling windows that also let in plenty of sunlight.
The portfolio of commercial properties is being offered on a vacant possession basis. Businesses and foreigners are permitted to acquire the Premium Grade offices, and they don’t have to incur additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).