_Appointment as exclusive marketing agent for entire office floor at Suntec City Tower Two
Knight Frank Singapore is pleased to announce its appointment as the exclusive marketing agent for an entire office floor at Suntec City Tower Two.
Currently tenanted, this opportunity is located on a high floor and enjoys panoramic views of both the sea and city. Its total area, comprising four strata titles, measures approximately 9,989 square feet (sq ft). The column-free and regular shape offers flexibility and efficiency in layout planning. The indicative guide price of approximately S$36 million works out to S$3,600 per square foot (psf). This sale is open to both locals and foreigners, with no Additional Buyer’s Stamp Duty nor Seller’s Stamp Duty imposed on the purchase.
Suntec City is an iconic mixed-use development which comprises five Grade-A office towers, Singapore’s second largest shopping mall and a best-in-class convention and exhibition centre, all of which are interlinked by street level plazas and underground walkways. In terms of convenience, it is highly accessible via the East Coast Parkway, Central Expressway and Nicoll Highway. Additionally, the development is also directly linked to Promenade and Esplanade Mass Rapid Transit (MRT) stations and a five-minute walk to City Hall MRT station, providing access to four main MRT lines.
Ms Mary Sai (蔡竺樾), Executive Director, Capital Markets, Knight Frank Singapore, said, “The demand for Suntec City offices remains robust as clearly shown by the recent transactions. For example, one unit on Level 30 at Tower Two was sold at S$38.75 million, or S$3,300 psf just last month. On top of that, two other units at Level 19 and 28 at Tower One were also sold at S$3,300psf and S$3,280psf respectively earlier in the month of April too.”
Ms Sai added, “Given current market condition and strong demand for strata commercial units, the offered listing’s guide price of $3,600 psf is reasonable and in line with the recent office transactions at Suntec City. This asset is suitable for owner-occupiers and investors who view commercial properties as safe-haven assets. Furthermore, buyers have the option not only to buy the whole floor but individual strata lot basis.”
Mr Daniel Ding (陈彦旭), Head of Capital Markets (Land & Building, International Real Estate & Industrial), Knight Frank Singapore, shared, “Taking into account the recent government announcement that strata subdivision of commercial complexes or mixed-use developments with a commercial component will no longer be allowed in Central areas, supply of good-sized strata units in prime areas will be limited, and we expect this listing to attract keen interest.”
For more information, please contact
Mary Sai, Executive Director, Capital Markets, Knight Frank Singapore
(E) mary.sai@sg.knightfrank.com (D) +65 9388 7879
Daniel Ding, Head, Capital Markets (Land & Building, International Real Estate & Industrial), Knight Frank Singapore
(E) daniel.ding@sg.knightfrank.com (D) +65 9336 3962
Hector Tan, Head, Marketing & Communications, Knight Frank Singapore
(E) hector.tan@sg.knightfrank.com (D) +65 6228 7358
Jane Sng, Assistant Manager, Marketing & Communications, Knight Frank Singapore
(E) jane.sng@sg.knightfrank.com (D) +65 6228 6827