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

2 999-year leasehold strata business office stories at TPI Bldg in Cecil Street are actually ready for purchase by using EOI at a sign rate of $30 mil.

CBRE is undoubtedly the distinctive advertising and marketing operator for the building.

The two stories available for sale are nestled on the peak two stories of the six-storey workplace building. Each story comes with a strata surface area of 3,929 square foot as well as offers a column-free style.

Together, both storeys have a total strata area of 7,858 sq ft, that serves as 31 percent in reference to the overall strata surface area of the development. Based within the total strata size, the expressive value convert to $3,818 psf.

Basing on to CBRE, the two levels, that hold occurring possessions, are simply to get marketed mutually or separately. Foreigners are qualified to secure without any ABSD or SSD enforced on the business real property deal.

Clemence Lee, Snr director, capital markets, SGP, at CBRE, points out such that the property is certainly a scarce chance and predicts good rate of interest for the 2 storeys.

The Avenir Condo Price

“There are basically a handful of 999-year or freehold strata office complex placed amongst the Central Business District. Throughout the years, the majority of these types have actually gotten secured by high-net-worth individuals or family unit business offices for long-lasting investment,” he includes.

He likewise mentions that following Urban Redevelopment Authority’s Master Plan ’19, TPI building features a maximum PR of Twelve point Six. “Provided the existing under use plot ratio of 6.8 as well as by having solely three various other proprietors inside the building, there certainly is business opportunity for every one of the owners to come together to either mutually redevelop or maybe renovate the structure or to commence a en-bloc,” he spells out.

TPI Building stands between Telok Ayer MRT Terminal and also Raffles Place train Interchange, all of that are no more than a five-minute stretch apart. The building is similarly in close proximity to Food & Beverage facilities such as Lau Pa Sat and even the Amoy/Telok Ayer Street dining enclave.

The EOI routine are going to terminate on 24Mar in 1500 hours.

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