F&B units occupying one floor at Oxley Tower up for sale with S$26m guide price

TWO strata retail units occupying an entire floor in Oxley Tower have been put up for sale with a guide price of S$26 million, joint marketing agents CBRE and SRI said on Wednesday.

The guide price translates to S$1,775 per square foot (sq ft) on a combined strata floor area of about 14,650 sq ft. Both units are located on the fourth floor and come with a private roof terrace and private lift access.

The units, which come with food and beverage (F&B) approval, can be purchased individually or collectively. Potential purchasers have the flexibility of configuring the units to accommodate their business operations, CBRE and SRI said.

CBRE senior director of capital markets Clemence Lee said the large outdoor refreshment area and private roof garden allow the eventual F&B operator to offer unique F&B concepts such as farm-to-table experiential dining within the city.

"Alternatively, the successful buyer can also consider other uses for the space such as childcare centre, retail, showroom, or office, subject to approval from the relevant authorities," he added.

Located at 138 Robinson Road, Oxley Tower is an integrated freehold development anchored by a retail podium and offices from the fifth to 32nd storey. It is near amenities such as Amoy Street Food Centre and shophouse eateries within the Tanjong Pagar precinct.

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Oxley Tower is in the vicinity of Tanjong Pagar MRT station, as well as the upcoming Shenton Way MRT station, which is slated for completion in 2022.

As the site Oxley Tower sits on is zoned for commercial use, locals, foreigners and companies are eligible to purchase the units. There will be no additional buyer's stamp duty or seller's stamp duty imposed on the purchase.

SRI Capital Market managing partner Low Choon Sin noted that an entire floor of strata F&B retail space is rarely available, especially within the central business district (CBD).

He noted that investors and F&B occupiers are set to benefit from the Urban Redevelopment Authority's CBD Rejuvenation Plan, which aims to transform the district to accommodate a greater extent of residential uses.