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All three units are located at level 5 of Fu Lu Shou Complex.
A portfolio of three strata office units in Fu Lu Shou Complex have been put up for sale via an expression of interest (EOI), carrying a guide price of $1,400 per sq ft (psf), revealed marketing agent CBRE.
With a combined floor area of around 5,145 sq ft, the three office units measure 936 sq ft, 2,034 sq ft and 2,174 sq ft, respectively. All three units, which come equipped with have floor traps, water points and toilets, are located at level 5 of Fu Lu Shou Complex.
“One of the many key selling points of the subject property is the sizeable floor area that is rarely made available for sale in Fu Lu Shou Complex, and at an attractive per square foot price,” said CBRE head of capital markets for Singapore Michael Tay.
A six-storey mixed development, Fu Lu Shou Complex features a retail podium from basement 1 to level 3 as well as offices on levels 4 and 5. It was completed in 1983 and is located on a corner plot with dual road frontages along Waterloo street and Rochor Road. It is also close to the Bugis MRT Interchange.
Other nearby landmark developments include DUO, South Beach and the upcoming Guoco Midtown.
Tay expects the units, which will be sold on vacant possession basis, to receive keen interest from end-users looking “to invest in premises for own operations to lock in long-term operational costs and to hedge against volatility in the office rental cycles.”
“The office portfolio will also appeal to investors – including family offices and high net-worth individuals – who have a mid- to long-term view of potential capital appreciation, against the backdrop of tighter office supply and stronger strata market scene. Not forgetting, investors also have the option to divest the units on an individual basis in the future,” he added.
Since these are commercial properties, both local and foreigners can acquire the units with no additional buyer’s stamp duty or sellers’ stamp duty payable.
The EOI exercise for the office units closes on 17 March.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg