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Straits Trading Building may fetch record psf price

Indonesia tycoon said to be nearing deal to buy property at over S$3,520 psf on NLA - a new high for an entire office building

Kalpana Rashiwala

Kalpana Rashiwala

Published Mon, May 30, 2016 · 09:50 PM
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Singapore

A NEW per square foot record price for an entire Singapore office building could be set if a deal that is brewing for Straits Trading Building on Battery Road materialises.

Indonesian tycoon and philanthropist Tahir is said to be in exclusive due diligence with a view to purchase the 28-storey, 999-year leasehold building for S$560 million. This translates to slightly more than S$3,520 psf based on the net lettable area (NLA) of 158,897 sq ft .

The psf price would bust the current record of S$3,125 psf set in April 2008 for Commerz Real's purchase of 71 Robinson Road, while it w…

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