High-floor office space at Samsung Hub snapped up, as demand for strata offices continues to grow

Singapore, 23 September 2024 – International property consultancy Knight Frank Singapore is pleased to announce the sale of strata office space measuring 3,595 sf at Samsung Hub.

Riding on the wave of robust transactions for well-located strata offices, a buyer has exercised the option to purchase an office unit at Samsung Hub at $14,800,000, which works out to $4,117 psf.

Samsung Hub is a 30-storey Grade A office tower located in the heart of the Central Business District at 3 Church Street. A sustainable building with an excellent green score, the property has a 999-year tenure and is a stone’s throw away from Telok Ayer (DT18) and Raffles Place (NS26) MRT stations. It is also located close to an array of amenities such as grocery and retail stores, banks and eateries.

The most recent sale of office space in the building was a 2,906 sf unit on the 10th floor, which transacted at $3,921 psf last November. Since then, a total of 49 freehold & 999-year strata offices changed hands in H1 2024, reflecting an increase of 16.7%. That’s seven more transactions than the 42 recorded in H2 2023. 

Ms Mary Sai (蔡竺樾), Executive Director, Capital Markets (Land & Building, International Real Estate), Knight Frank Singapore (执行董事,资本市场部, 莱坊), says, “There is still a good level of interest for well-located freehold offices from private wealth groups, investors and smaller businesses and a dearth of quality offices with the right sizes to satisfy buyers’ demand.

"With this transaction, I'm happy to say we're seeing a return close to January 2022 levels, when a 3,875 sf unit was sold at $4,155 psf."  

Other freehold strata offices currently available in the market include VisionCrest and 108 Robinson Road, both marketed by Knight Frank.

Photo for use:

Source: Knight Frank

For further information, please contact: 
Mary Sai

Executive Director, Capital Markets (Land & Building, International Real Estate)

Knight Frank Singapore
mary.sai@sg.knightfrank.com | +65 9388 7879 | +65 6228 6886

Lilian Hoe
Director, Marketing, Communications, Legal and Compliance

Knight Frank Singapore
lilian.hoe@sg.knightfrank.com | +65 6228 6807

Notes to Editors

About Knight Frank

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 27,000 people operating from over 740 offices across more than 50 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants.

For further information about the firm, please visit knightfrank.com. Knight Frank has a strong presence in Singapore with a head office and two subsidiaries: Knight Frank Property & Facilities Management and KF Property Network. For further information about the Company, please visit www.knightfrank.com.sg.