Union Investment puts VisionCrest Commercial on market; guide price above S$470 million
Price works out to S$3,157 psf on net lettable area and S$3,038 psf on strata area for 11-storey freehold building along Penang Road
THE property unit of German asset manager Union Investment is putting on the market VisionCrest Commercial along Penang Road.
The guide price for the 11-storey predominantly office freehold building is in excess of S$470 million, reflecting S$3,157 per square foot (psf) on the net lettable area of 148,854 sq ft.
On the strata area of 154,711 sq ft, S$470 million works out to S$3,038 psf. The strata area comprises 149,652 sq ft of offices and 5,059 sq ft of retail space. The office space is on levels 2 to 11 (with one strata title per floor). The retail space, on level 1, comprises 11 strata units.
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