Two strata office floors at Raffles Place for sale at $30 mil
Two 999-year leasehold strata business office levels at TPI Building within Cecil St are recently ready for transaction by means of EOI at a suggestive amount of $30 million.
CBRE is undoubtedly the exceptional advertising and marketing rep for the real property.
Both levels available for sale are nestled in the ceiling two storeys in the six-storey office complex. All storey comes with a strata size of 3,929 square feet plus displays a columnless layout.
Combined, the two stories possess a complete strata size of 7,858 square feet, which in turn represents Thirty One percent based on the entire strata size of the building. Based upon the total strata size, the expressive figure translates to $3,818 per square ft.
Conceding to CBRE, the two stories, and that hold occurring possessions, are simply being advertised at the same time or singularly. Non-citizens are qualified to invest in without any extra buyer’s stamp duty or SSD troubled the business building purchase.
Clemence Lee, senior Dir, capital markets, SGP, at CBRE, mentions such that the building is an unique venture and furthermore anticipates powerful curiosity for the two stories.
“Presently there are merely a small number of 999-year or free lease strata office space buildings positioned among the Central Business District. Throughout the years, a lot of these have gotten bought by rich individuals or family unit offices for future investment,” he beefs up.
He likewise indicates that under URA’s Master Plan 2K19, TPI building holds an optimum PR of 12.6. “Given the present under-utilised PR of 6.8 as well as with just 3 various other property owners within the property, certainly there is opportunity for every one of the proprietors to enter together to either mutually rebuilt alternatively renovate the property or to enter a en-bloc,” he describes.
TPI Building is placed between Telok Ayer MRT Terminal and also Raffles Place MRT Interchange, all of that are merely barely a five-minute walk away. The building is additionally near Food and beverage amenities consisting of Lau Pa Sat and also the Amoy/Telok Ayer Street dining territory.
The expression of interest exercise are going to end on Mar 24 at 1500hrs.