An office floor at Suntec Tower 1 has been put up for sale via private treaty with a guide price of $40.95 million. The floorplate spans 12,045 sq ft separated into three individual strata titles, ranging from 3,498 sq ft to 4,908 sq ft. The guide price translates to about $3,400 psf.
According to exclusive marketing agent Savills Singapore, investors can expect to see a rental yield of approximately 3.8% on a fully let basis.
“Featuring a regular and flexible floorplate with six individual units, the property offers immediate and stable rental income, making it a compelling investment opportunity,” says the agency.
Suntec Tower One is part of Suntec City’s five Grade-A office towers. Developed in the mid-1990s, the integrated development is also one of Singapore’s largest retail malls, and a world-class convention and exhibition centre.
The property has since undergone extensive asset enhancement initiatives in 2022, which include upgrades to entrance lobbies, reception areas, concierge desks, lift lobbies, and restrooms, adds Savills Singapore.
Sophia Lim, director of investment & sales & capital markets at Savills Singapore, says: “As one of the few strata-titled developments in Singapore that fulfil a wide range of buyer requirements, Suntec City continues to experience robust demand, reinforcing its appeal in the market.”
She adds that offices on the high floors of Suntec have also experienced high demand due to the panoramic views it offers of the city skyline. Recent strata office transactions at Suntec City include two office units on level 37 that were sold at $3,684 psf and $3,736 psf in March and June 2024, respectively.
In 2022, Lim brokered the sale of a full office floor plate on level 31 of Suntec Tower 2 at $41.15 million, which is the largest full floor transaction till date.
Located along Temasek Boulevard in District 1, Suntec City is a 99-year leasehold mixed-use development. It is linked to several transportation nodes such as City Hall, Promenade, and Esplanade MRT stations, offering connectivity 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).
Both foreigners and companies are eligible to purchase without incurring additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
