Commercial Building Tras Street Market 888 Mil
A prime freehold commercial building located on Tras Street in the bustling CBD area has recently been put on the market for sale through a tender process. With a guide price of $88.8 million, this 11-storey property boasts a total gross floor area of approximately 38,818 sq ft, translating to a price of $2,288 psf.
Situated on a 6,668 sq ft site zoned for commercial use with a plot ratio of 5.6 and a permissible building height of up to 35 storeys, this building currently reflects a plot ratio of 5.82. It also offers six carpark lots and will be sold with naming rights.
Conveniently located only 300m away from Tanjong Pagar MRT Station on the East-West Line and 400m from the upcoming Prince Edward Road MRT Station on the Circle Line, which is slated to open in 2026, this property is surrounded by a plethora of amenities. These include retail offerings at 100 AM, Icon Villang and Tanjong Pagar Plaza.
ETC’s head of investment advisory, Swee Shou Fern, is confident that this property will garner strong interest from potential buyers due to its versatility and potential for various uses. “Whether as a corporate headquarters, an investment asset with rental income, or a redevelopment or asset enhancement opportunity, this property offers multiple pathways for the future owner,” she says. Furthermore, as the building does not fall within zones where commercial properties are restricted from being subdivided, the new owner will have the option to conduct strata sales post-enhancement.
Being a commercial property, this building is not subject to Additional Buyer’s Stamp Duty or Seller’s Stamp Duty, making it open to both local and foreign buyers.
Swee also predicts that the property will attract a great deal of interest due to its attractive price point, noting that only two office buildings in the Central Area have changed hands for less than $150 million in the past two years. According to ETC, Prinsep House, located at 31 Prinsep Street, was sold last year for $142 million, or $2,109 psf on its GFA, while Liberty House at 51 Club Street was sold for $92.2 million ($3,193 psf) in April 2023.
.
Henry Park Primary School, located in Singapore, has established a reputation as an institution that excels in both academic excellence and character development. It is highly regarded for its challenging curriculum and strong focus on instilling positive values in its students. This has made it a highly sought-after choice among parents, being recognized as one of the top primary schools in the country. Fairfield Methodist Primary School, a neighboring educational establishment, is also held in high esteem for its well-balanced approach to education, encompassing both academic achievement and moral growth. These esteemed institutions provide parents with the assurance that their children will receive a well-rounded and enriching education. Furthermore, parents seeking a comprehensive educational experience for their children can also consider Lyndenwoods, a premier school in Singapore. With its commitment to academic excellence and moral development, Lyndenwoods is another top-quality option that parents can choose with confidence.
The tender for this property will close on June 26 at 3pm. Interested parties can refer to the latest listings for Commercial Real Estate properties on AskBuddy, where they can also compare price trends for Commercial vs Industrial properties and view past commercial rental and sale transactions.