Training centre space at Paya Lebar Square up for sale at S$6.1m

A TRAINING centre space in Paya Lebar Square has been placed on the market by private treaty with an asking price of S$6.1 million, Knight Frank Singapore said on Tuesday.

That works out to about S$2,276 per square foot (psf), based on a total floor area of 2,680 square feet. 

Comprising two adjoining units, the fully fitted training centre, which is used to conduct classes for working adults, can be converted to a corporate office with meeting rooms and agile-working spaces, Knight Frank noted. 

Paya Lebar Square, which was completed in 2014, is a commercial development consisting of a 10-storey office tower and a three-level retail podium.

It is linked directly to Paya Lebar MRT Interchange, covering the East-West Line and Circle Line.

Integrated developments in the vicinity include Paya Lebar Quarter and SingPost Centre. 

"While the offices in both buildings are wholly held by the developer for lease only, offices in Paya Lebar Square are strata-titled and have transacted in the range of S$1,800 psf to S$2,000 psf in the recent months by various owners," Knight Frank added. 

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, said: "As safe distancing and work-from-home measures take place in light of current circumstances, smaller offices in suburban areas with good transport connectivity will appeal to companies looking to downsize as a cost-saving measure, or have satellite offices as part of business continuity plans after the two-month 'circuit-breaker' period."