A PORTFOLIO of strata office units in Suntec City has been put up for sale via an expression of interest (EOI), with individual unit guide prices amounting to S$57.1 million.
Amounting to a total strata area of 17,492 square feet (sq ft), it comprises the entire floor on level 38 as well as two units on level 16 of Suntec Tower One.
All three are currently owner-occupied and will be sold either with vacant possession or on a short-term leaseback arrangement, said exclusive marketing agent CBRE on Tuesday (Aug 13).
Level 38 spans some 10,097 sq ft and comes at a guide price of S$33.8 million, which translates to about S$3,350 per square foot (psf).
CBRE said this unit offers “exceptional panoramic views” of the Central Business District, Marina Bay and its surrounding cityscape.
The two units on level 16 come with separate strata titles at guide prices that each translate to S$3,150 psf, or S$11 million for the 3,498 sq ft unit and another S$12.3 million for the other 3,897 sq ft unit.
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The agent noted that strata office units in Suntec City have been averaging at around S$3,411 psf, with the entire level 44 of Suntec Tower Three changing hands at S$3,513 psf in December 2023.
“This portfolio presents an opportunity for investors to ride on Singapore’s resilient office sector with an established asset that has a proven track record,” said Michael Tay, CBRE’s head of capital markets for Singapore.
“With the restriction on strata subdivision of future commercial developments within key locations in the Central Area imposed by Urban Redevelopment Authority in 2022, strata offices in prime locations with excellent specifications such as Suntec City can only become more valuable in time to come,” he added.
The EOI for the Suntec City strata office units closes at 3 pm on Sep 18.
Interested parties may submit offers for either the entire portfolio or individual units.
