Guoco Midtown Secures Publicis Groupe As Office Tenant
SINGAPORE – Publicis Groupe, a multinational advertising and PR firm based in Paris, has agreed to occupy 55,000 sq ft of Grade A office space at Guoco Midtown’s 30-storey office tower, according to a report from The Edge that was published on Tuesday afternoon (13 June, SGT).
Notably, Guoco Midtown is a mixed-use development at Beach Road consisting of two condominiums, three retail clusters and an office building.
Colliers International, which brokered the office rental transaction, disclosed that office rents for new Grade A workspaces along this stretch of Beach Road currently stands at around S$9.90 psf per month. However, the real estate consultancy did not reveal the rate Publicis Groupe has agreed to pay for its new office space at Guoco Midtown.
Guoco Midtown’s office tower comes with a traditional floor plate layout from levels 8 to 29. Each office floor features a core floorplate measuring about 30,000 sq ft, with an average floor-to-ceiling height of 3.3 metres.
While the entire project is expected to be fully completed by next year, Guoco Midtown’s office component has already obtained a temporary occupation permit (TOP) in January 2023. Back then, the office building was 80 percent pre-let.
Other tenants that have already agreed to lease in the office building include Liechtenstein’s private bank VP Bank, Germany petrochemical company BASF, multinational shipping firm Pacific International Lines, and Chinese tech giant NetEase Interactive Entertainment.