Prospex owner selling whole building instead of strata sales

Singapore

THE Prospex, a nine-storey commercial building in Bugis, has been put up for sale by private real estate investment firm Pamfleet Group with an asking price of S$80 million or S$1,913 per square foot (psf) of gross floor area.

The move to sell the entire building through an expression of interest (EOI) rather than to stick to the original plan of selling strata units came amid recent sluggish office strata launches in the market.

Approvals have already been granted for strata sub-division for a combined area of 30,807 sq ft. The site spans about 5,264 sq ft with an approved gross floor area of 41,806 sq ft. But CBRE, the sole marketing agent for the property, said that the change of plans followed unsolicited requests for the purchase of the whole building f…