14th floor of Samsung Hub sold for $3,030 psf

THE 14th floor of Samsung Hub along Church Street has been sold at slightly over $39.72 million or $3,030 per square foot based on its 13,110 sq ft strata area.

Word on the street is that Arch Capital Management, a Hong Kong-based private equity real estate firm with links to Ayala Group of the Philippines, is selling the whole office floor - comprising four strata units - to a mainland Chinese company. The floor is leased until year-end to a law firm.

This means Arch Capital will be exiting the 999-year leasehold office tower, having sold all its space on the 13th floor via four smaller strata units adding up to 13,110 sq ft between late 2012 and early 2013 at prices ranging from $2,920 psf to $3,150 psf.