9 Office Units At Clarke Quay’s The Central Up For Grabs For S$28mil In All

SINGAPORE – Nine adjacent strata office units on the 17th floor of The Central at Clarke Quay have been launched for sale via an expression of interest (EOI) exercise at an overall indicative price of S$28 million, reported The Business Times on Wednesday afternoon (22 June, SGT).

According to exclusive marketing agent Jones Lang LaSalle (JLL), the total guide price works out to roughly S$2,965 psf based on the office units’ combined strata area of 9,441 sq ft.

Carin Puah, Senior Director for capital markets at JLL Singapore, disclosed that the commercial properties are presently occupied and there’s a sale and leaseback arrangement for another six months to nine months.

“Most of the office spaces in The Central have smaller floor plates and it is rare to find 9 contiguous office units on a single level on a high floor,” she said.

JLL underscored The Central’s strategic location within the fringe of Singapore’s central business district (CBD) and on top of the Clarke Quay MRT Station. In addition, the mixed-use commercial development enjoys a prominent frontage along the Singapore River.

Completed in 2008, The Central is an integrated project comprising a 25-storey office tower, a retail podium, and two blocks containing SOHO (smart office, home office) units.

The real estate consultancy revealed that the strata office units up for grabs come with meeting rooms that flank the space and full-length windows along the exterior-facing sides.

“The (commercial property’s) large, regular floor plate has been efficiently used to provide occupants with generous workstations and ample circulation space,” JLL added.

Given that the development is zoned for commercial use, overseas buyers are allowed to acquire the office space and there’s no need to pay additional buyer’s stamp duty (ABSD).

The EOI exercise for the strata office units at The Central shall close on 21 July at 3pm.