Samsung Hub floor sold at S$3,225 psf

[SINGAPORE] The entire 18th floor of Samsung Hub has been sold at S$3,225 per square foot - the highest for an entire office floor in the 30-storey office tower in Church Street in the Raffles Place area. The building is popular among office investors due to the long tenure of the site - 999-year leasehold.

Samsung Hub's 18th floor, which has just been transacted, comprises six strata units adding up to 13,132 sq ft, resulting in a total quantum of slightly over S$42.35 million. The entire space is being sold to a single buyer, said to be an Asia-based group involved in the oil and gas business, among others, looking to occupy the space, as existing leases run out in phases starting later this year.

CBRE brokered the sale and Cushman and Wakefield also advised the seller, Church Street Holdings.