Samsung Hub office floor sold at S$3,250 psf

Singapore

THE eighth floor of the 999-year leasehold Samsung Hub has been transacted at S$3,250 per square foot on strata area, totalling S$42.6 million.

This reflects around 3.2 per cent net yield based on the monthly rental of slightly over $10 psf at which the lease for the floor is said to have been renewed for a further three-year term starting September this year, said Sammi Lim, associate director (investment properties) of CBRE who brokered the transaction through private treaty.

Comprising four strata units adding up to 13,110 sq ft, the floor was sold by Sun Venture following an unsolicited offer by the buyer, which is a low-profile Hong Kong-based property investment company that has previously bought strata commercial units from Sun Venture in other build…