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A high floor strata office unit at Suntec Tower 3 has been put up for sale by expression of interest (EOI), with the guide price at S$11.6 million, or about $2,750 per sq ft on strata area, revealed marketing agent JLL.
With a total strata area of around 4,219 sq ft, the office unit is situated on level 29 and enjoys a prominent lift lobby frontage. It is being sold “either with vacant possession or with a sale-and-leaseback arrangement at 4.0 percent gross yield”.
JLL associate director Clemence Lee expects the property to appeal to various owner occupiers – such as financial institutions, IT firms, legal firms, family offices, tech firms and small and medium-sized enterprises – as well as to investors looking to invest in a prime office unit with a strong and stable tenant in place.
“Opportunities to own a high floor, lift lobby fronting office unit with panoramic sea views in Suntec Towers are extremely rare and are highly sought after. The property is also well-poised for capital appreciation as the office rent and price recovery are underway,” he said.
Since it is a commercial unit, foreigners are allowed to acquire the property, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
The EOI exercise for the property will close on 26 October.
Photo: Google Maps
This article was edited by Keshia Faculin.
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