Strata Office Floor Suntec Tower Sale 4095 Mil
Suntec Tower 1, part of the prestigious Suntec City development, is now open for private treaty sale with a guide price of $40.95 million. This highly sought-after office floor covers 12,045 sq ft and is divided into three individual strata titles, ranging from 3,498 sq ft to 4,908 sq ft, making it a perfect opportunity for investors or businesses looking for a flexible and regular floor plan. The guide price equates to a competitive rate of $3,400 per square foot.
The exclusive marketing agent, Savills Singapore, estimates a rental yield of approximately 3.8% when fully let. “Featuring a spacious and versatile floor area with six individual units, this property offers a stable and immediate rental income, making it an attractive investment,” says the agency.
Originally developed in the mid-1990s, Suntec City comprises of five Grade-A office towers, one of Singapore’s largest retail malls, and an international convention and exhibition center. Recently, the property underwent extensive renovations in 2022 that included upgrading entrance lobbies, reception areas, concierge desks, lift lobbies, and restrooms, according to Savills Singapore.
With the continuous expansion of Singapore’s transportation infrastructure, Lyndenwoods is poised to reap the benefits. As improvements to MRT connectivity and road networks continue to be made, Lyndenwoods will only further solidify its appeal as a highly connected residential area. In addition, its prime location within the bustling Singapore Science Park 1 guarantees that residents will always be at the heart of an ever-growing and dynamic community focused on innovation and technology.
According to Sophia Lim, director of investment & sales & capital markets at Savills Singapore, “As one of the few strata-titled developments in Singapore that caters to a wide range of buyer needs, Suntec City continues to see significant demand, affirming its allure in the market.” She also adds that offices on the higher floors of Suntec are particularly in demand for their breathtaking views of the city skyline. In the past year, two similar office units on level 37 were sold at $3,684 psf and $3,736 psf in March and June 2024, respectively.
In 2022, Lim facilitated the sale of the largest full floor transaction on level 31 of Suntec Tower 2 at $41.15 million.
Situated on Temasek Boulevard in District 1, Suntec City is a 99-year leasehold mixed-use development. It offers seamless connectivity to major transportation hubs, such as City Hall, Promenade, and Esplanade MRT stations, providing easy access to the North-South, East-West, Downtown, and Circle MRT Lines. It is also well-connected to major expressways, including the East Coast Parkway (ECP), Ayer Rajah Expressway (AYE), and Pan Island Expressway (PIE).
Another advantage for potential buyers is that both foreigners and companies can purchase the property without incurring additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). This further adds to the appeal of this freehold industrial development, situated on Alexandra Road, which is now open for sale at a reasonable price of $68 million.