Two Strata Office Units Available At Peninsula Plaza
SINGAPORE – Exclusive marketing agent Cushman & Wakefield (C&W) announced that two strata office units at Peninsula Plaza have been launched for sale via an expression of interest (EOI) exercise, reported The Edge on Monday afternoon (18 July, SGT).
The real estate consultancy said the commercial properties can be acquired as a bundle for a total of S$10.1 million, or they can be purchased separately at S$2,700 psf and S$3,000 psf
As both office units are situated on different floors above level 12, they offer unobstructed views of Marina Bay. At present, both commercial properties are leased.
In June 2022, an office unit at the 8th floor of Peninsula Plaza was sold for S$2,380 psf, said C&W’s Executive Director of capital markets Shaun Poh, adding that the ban on the strata subdivision of commercial properties in prime locations in Singapore would lead to a limited supply of such assets.
“New regulation preventing strata subdivision of commercial properties in prime locations, including City Hall, implies an extremely tight supply of strata offices in prime central areas in the future.”
Peninsula Plaza is a 30-storey mixed-use project that consists of a carpark, a five-level retail podium, and a 24-storey office tower. The commercial development stands on a land plot with a leasehold tenure of 999 years.
Situated at 111 North Bridge Road within the civic district of Singapore’s central business district (CBD), the commercial project is just a stroll away from the City Hall MRT Station. It is also close to landmarks, like the National Gallery, the Supreme Court, and St Andrew’s Cathedral, as well as shopping centres such as Funan, Raffles City and Capitol Singapore.
The EOI exercise for the two office units at Peninsula Plaza shall close at 3pm on 11 August 2022.