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A prime 999-year leasehold Grade A office floor at Raffles Place has been put up for sale via an expression of interest (EOI), revealed marketing agent JLL.
Comprising six strata office units spanning 13,132 sq ft, the property is located on the 20th floor of Samsung Hub (pictured).
The 30-storey Grade A building was completed in 2005 and is fully clad with double glazed turquoise-tinted glass. With tenants including tech giant Samsung and international service office operator Regus, the development’s features include a double volume entrance lobby, spacious car drop-off point, as well as ample car parking facilities.
Meanwhile, the strata office floor is fully fitted with raised flooring, integrated ceiling boards, partition rooms, reception area, workstations, meeting rooms and a wet pantry. It is offered on a vacant possession basis, “making it attractive to owner-occupiers who are looking to purchase an entire office floor for own-use”, noted JLL.
“Prime freehold and 999-year leasehold offices located in central areas are highly sought after due to their inherent investment value and wealth preservation purposes,” said Clemence Lee, Senior Manager, Capital Markets at JLL.
“Samsung Hub is the only 999-year leasehold Grade A strata office development available for sale in Raffles Place. This is an extremely rare opportunity for both investors and owner-occupiers to acquire a prime 999-year leasehold asset located in Singapore’s key financial district and we expect strong interest.”
The property’s indicative guide price is in the range of $43.38 million, which works out to around $3,310 psf on the total strata area.
Foreigners are eligible to acquire the property as it is situated on land zoned for commercial use. There is also no Seller’s Stamp Duty (SSD) or Additional Buyer’s Stamp Duty (ABSD) imposed on the purchase of the property.
The EOI exercise for the property will close on 15 March.
Image source: Terence Ong, Wikimedia Commons
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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