Level 31 Of Suntec Tower 1 Launched For Sale
SINGAPORE – Marketing agent Savills announced that the whole of level 31 at Suntec Tower 1 has been put up for sale via an expression of interest (EOI) exercise with an asking price of S$43 million, which works out to an average price of S$3,501 psf, reported The Edge on Tuesday afternoon (15 August, SGT).
The entire office floor has an overall strata area of 12,282 sq ft. It consists of three strata-titled office units measuring between 3,735 sq ft and 4,758 sq ft.
More importantly, the buyer of the commercial property will enjoy stable and immediate rental income as the whole of level 31 is fully leased.
“Following Savills’ recent successful sale of four full office floors at Solitaire on Cecil and multiple transactions at Suntec City, we have been receiving strong interest for prime Grade-A strata offices,” remarked Sophia Lim, Director for investment sales & capital markets at Savills Singapore.
She revealed that Suntec City remains a darling development among end-users and real estate investors as it features Grade-A strata offices and a shopping centre with numerous F&B and lifestyle options. Apart from having sufficient parking space, the development also has excellent transport connectivity.
“The offices on the high floors of Suntec City are always sought-after, as they are arguably the only strata office development in the area that offer panoramic views of the Marina Bay Financial District, Kallang River, and the Singapore Sports Hub,” Lim added.
Furthermore, companies and foreign nationals are permitted to acquire the office floor, and there’s no need to pay additional buyer’s stamp duty (ABSD) nor seller’s stamp duty (SSD) for the acquisition.
The EOI exercise for the 31st floor of Suntec Tower 1 will close on 14 September 2023.