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Located on Level 18, the office unit spans about 2,347 sq ft with views of the Singapore River and the Central Business District (CBD) skyline. Photo: CBRE
A strata office unit at Chinatown Point has been put up for sale via expression of interest (EOI), with a guide price of $4.46 million, revealed exclusive marketing agent CBRE.
Located on Level 18, the office unit spans about 2,347 sq ft with views of the Singapore River and the Central Business District (CBD) skyline.
CBRE noted that the unit can be sold vacant or with a leaseback arrangement for a year.
And since it is zoned for ‘Commercial’ use, both locals and foreigners can acquire the unit with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
Recommended article: 8 Ways to Avoid ABSD (and Why You Should Always Think Twice Before Doing It)
The largest strata-titled commercial development within proximity to the CBD, Chinatown Point comprises a retail podium from basement 2 to the fifth storey and an office block from the eighth to 25th storey. It also features 361 car park lots across four levels.
The development enjoys triple frontage along Upper Cross Street, Upper Hokkien Street and New Bridge Road and comes with a sheltered linkway to Hong Lim Complex/Food Centre as well as an underground pedestrian link to the Chinatown MRT interchange station.
“Many occupiers here are attracted by its strong locational attributes of being close to the CBD, the myriad of amenities in the vicinity and the direct linkage to Chinatown MRT interchange station which serves the North-East and Downtown lines. These positive attributes and the view of hedging against inflation may encourage business owners to buy the unit for owner occupation,” said Michael Tay, Head of Capital Markets, Singapore at CBRE.
“On the investment front, against the backdrop of tight office supply in the short to mid-term, we believe this offering will appeal to investors, including family offices, high net-worth individuals and boutique investment firms, who may be looking to buy into a recovering office rental cycle.”
The EOI exercise for the office unit closes on 5 August.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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