Paya Leber Square Strata Office Units Available For Purchase
Recent news has revealed that 12 units of strata title office space at the Paya Leber Square are now up for sale. The units are currently in the 8th floor of the office building and have a strata area measuring 8,503 sqft.
The 12 adjoining offices in the 8th floor of the building are now up for sale and the sale has been facilitated through a public tender. The news was revealed by CBRE, a marketing agent. The total combined floor area of the units is 8,503 sqft. and they are located right next to the lift lobby.
Paya Leber Square is a commercial building with 13 stories. It is for mixed development and its office block goes from the 5th floor to the 13th floor. It has a retail podium from the first basement, basement 1 to its 2nd storey. There are a number of trades involved in its retail podium including food court, banks, cafes and other amenities.
The location of the building is also noteworthy as it is next to the Paya Leber MRT Interchange Station. This station offers connectivity through the Circle Line and East-West Line. This is another plus of the building as it is accessible through different avenues. The building is also just 6 stops away from the Raffles Place offices and only 10 minutes away from Singapore CBD.
According to Sammi Lim, the director of CBRE Capital Markets, “We think that these units will attract those investors who want their own portfolio of commercial properties and need a steady income once the units are tenanted fully”. Adding further, she said, “The units will be available for individual basis in the near future”. Sammi, therefore, thinks that the units up for sale could serve a number of purposes and not just one. Since the building is already a mixed purpose one, it would serve to fulfill the needs of commercial and personal usages users both.
What is even more surprising and a big advantage for those interested in purchasing the units is that these units are commercial and can be purchased by both local and foreign users. Therefore, foreigners will also have no difficulty in getting these for themselves. There would not be an additional buyer stamp duty or the seller stamp duty, (ABSD) and (SSD) for the users, which means that they get these offices at affordable rates and prices.
Since the 8 strata office units are going to offer units for anyone interested, it is a good catch. It is also confirmed that the tender of the building will close on August 3, 2018.
Moreover, according to Sammi, they are now expecting the premium units to attract investors and owner-occupiers. He feels that these units will attract the family offices, the corporates, the private equity firms and a lot more. All of these will add to the benefits of the place, which is quite strategically located and is easily accessible from different areas around the city.