Two strata office floors at Raffles Place for sale at $30 mil

Two 9hundred 99 year leasehold strata business office levels at TPI Bldg on Cecil Street are recently put up for sale over EOI at an indicative figure of $Thirty million.

The Florence Residences Condo Price

CBRE is definitely the exceptional advertising rep for the real property.

Both floors to buy are found on the top 2 floors of the six-storey office complex. Respective storey has a strata size of Three thousand Nine hundred Twenty Nine square feet as well as displays a columnless structure.

Together, both of these levels have a full strata size of 7thousand 8hundred 58 square foot, in which stands for Thirty One percent coming from the whole strata area of the development. Based in the complete strata area, the denotive price tag translates to $3thousand 8hundred 18 per square foot.

According to CBRE, both floors, in which carry occurring possessions, are simply being sold off jointly or separately. Immigrants are allowed to secure without any additional buyer’s tax or seller’s stamp duty required on the business property proceeding.

Clemence Lee, senior director, capital markets, SGP, at CBRE, states such that the asset is an unusual business opportunity and even foresees sturdy rate of interest for the two stories.

“Currently there are only a small number of Nine hundred Ninety Nine yr or lease free strata office buildings found within the Central Business District. For many years, many of these have gotten procured by wealthy professionals or family unit offices for long-lasting financial investment,” he includes.

He also indicates that within URA’s Master Plan 2K19, TPI bldg holds an optimum PR of 12.6. “Offered the current under-utilised plot ratio of Six point Eight and also with just 3 some other proprietors inside of the property, there certainly is possibility for all the proprietors to appear as one to possibly collectively reconstruct or maybe recondition the facility or to set out a en-bloc,” he spells out.

TPI Bldg rises in between Telok Ayer Mass Rapid Transit Station and Raffles Place MRT Interchange, both of which are merely less than a five minute stroll afar. The building is also neighboring F&B features such as Lau Pa Sat and even the Amoy/Telok Ayer St eating enclave.

The EOI exercise are going to terminate on March24 in 3 in the afternoon.

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