Brilliance Capital and Savills Singapore are pleased to offer for sale an entire floor located on Level 7 of GB Building.
GB Building is situated at Singapore’s Central Business District (CBD) and in the heart of the Tanjong Pagar submarket. It has approximately 95 metres prominent road frontage along Cecil Street and McCallum Street. The building also enjoys seamless connectivity with fully sheltered access to Tanjong Pagar MRT Station.
Located on the 7th floor, the sale offering is tastefully renovated and a regular floor plate with column-free layout. The strata area is approximately 5,425 sq ft and comes with an exclusive use of the lift lobby, pantry and restrooms. The guide price is $9.765 million, or approximately $1,800 per sq ft, and this sale offering will be sold on a vacant possession basis.
Ms Sammi Lim, Executive Director, Brilliance Capital Pte Ltd, said: “This offering is a good opportunity for an occupier or an investor to purchase a high-quality strata office. Due to its quality specifications and strategic location, GB Building consistently enjoys a high occupancy rate and the office floors are always tightly held by a very small number of owners. Against the backdrop of tight strata office supply in the CBD, we believe that this offering is a good opportunity for the purchaser.”
The Tanjong Pagar precinct has undergone exciting rejuvenation anchored by new mixed-uses developments, Grade A offices, luxury residential developments and hotels, such as Tanjong Pagar Centre, Frasers Tower and the upcoming former CPF Building and Afro Asia Building. With the redevelopment of AXA Tower by a joint venture comprising Alibaba Group and a Perennial consortium, other new lifestyle and F&B offerings complement the commercial and residential elements, which this area is traditionally known for, transforming Tanjong Pagar into a vibrant live-work-play community in Singapore’s CBD.
Based on recent strata office transactions in the vicinity, such as Samsung Hub, SBF Centre, Crown at Robinson, which are transacted in the range of $3,000 psf, the price point for this floor at GB Building is a compelling and attractive one, proving to be a chance opportunity for purchaser.
Ms Yap Hui Yee, Director of Investment Sales and Capital Markets, Savills Singapore, said: “In addition to the ongoing rejuvenation, the government’s development plans for Tanjong Pagar as the gateway to the next waterfront city will have a growth effect on both capital and rental values of existing developments. Furthermore, the opportunity to find a premium grade strata office floor at less than S$10 million price tag in the prime CBD is extremely rare and hard to come by.”