Entire floor at Suntec City Tower 1 up for sale with S$41.8 million guide price
This translates to around S$3,403 psf based on the total strata area of 12,282 sq ft
THE entire 31st floor of Suntec City Tower 1 has been put up for sale via a private treaty, with a guide price of S$41.8 million.
This translates to around S$3,403 per square foot (psf) based on the total strata area of 12,282 square feet (sq ft), said exclusive marketing agent PropNex on Tuesday (Jul 23).
The office floor comprises three strata titles and has a 99-year leasehold tenure starting from 1989.
The sale is open to both foreigners and companies, with no additional buyer’s stamp duty or seller’s stamp duty.
Suntec Tower 1 is a 44-storey office building at the Suntec City development, which includes a retail mall and convention centre. It is in close proximity to three MRT stations: Esplanade, Promenade and City Hall.
PropNex associate district branch director Henry Lim said the offering provides occupiers a “premium workspace in the city” that could help attract and retain talents.
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The broker noted that strata office spaces at Suntec City have been on investors’ radar, with 20 transactions completed in 2021, and 11 and 15 deals done in 2022 and 2023, respectively.
This strong demand is due to its central location, wide range of commercial offerings on-site, as well as accessibility via public transport, said Lim.
The last transaction in Suntec City Tower 1 for its 37th floor was put up for sale at S$3,736 psf in June. In September 2022, the top floor of Suntec City Tower 1 was sold for S$3,850 psf, setting a new record within the building.
Lim noted that the entire floor in the latest deal is fully occupied until October 2025. The tenant is also interested in extending the lease, which could offer a stable income stream for the buyer in the coming years, he said.
The buyer will also have the option to retain the whole floor or sell the separate strata units in future, added Lim.
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