Savills Singapore, as the exclusive sole marketing agent, is pleased to offer for sale a prime office floor of approximately 9,989 square foot at Suntec Tower Two. The offering features four contiguous premium office units located on level 42 of Suntec Tower Two, the third highest floor in the development.
Suntec Tower Two is part of Suntec City, one of the largest integrated developments in Singapore consisting of five Grade-A office towers, a shopping mall and a world-class exhibition centre. Completed in the mid-1990’s and designed to be a "city within a city," Suntec City integrate various development components into a coherent urban centre that connects the adjacent developments and the extension of Singapore Central Business District. It enjoys seamless connectivity with sheltered access to three MRT stations, namely City Hall Interchange station, Promenade and Esplanade MRT stations and link bridges, underpasses to adjoining developments in the Marina Centre area.
The investment-grade office towers are designed with no internal columns to ensure efficient office space planning. The space is arranged around a central service core to allow for maximum views and natural light. There are separate high-speed elevators serving the low, mid, and high-rise zones in the buildings.
Mr Galven Tan, Deputy Managing Director, Investment Sales and Capital Markets, Savills Singapore, noted: “The offices on the high floors of Suntec City are always extremely sought after, as it is arguably the only strata office development which offers unobstructed views of the city skyline and waterfront. This is an extremely rare opportunity to acquire one of the highest floors with panoramic views of the Marina Bay Financial District, city skyline, Kallang River and Singapore Sports Hub.”
Suntec Tower Two is currently undergoing asset enhancement work which includes upgrading of the entrance lobby, reception and concierge area, lift lobbies and restrooms. The upgrading works will continue to strengthen the value proposition of the office floors.
“This offering is an exceptional opportunity. The entire floor is currently 100% leased to Multi-National Companies (MNCs), thus offering an investor strong tenant covenants and immediate rental income. Two of the tenants have recently renewed their tenancies which is testament that office space is still essential as employees require the psychological and emotional benefits of a tightly woven team and strong corporate culture found in the workplace”, added Mr Tan.
The guide price is S$33 million, translating to an average price of S$3,303 psf on strata area. The portfolio of four strata units is offered for sale as a bundle and with tenancies. Both foreigners and companies are eligible to purchase and there will be no additional buyer’s stamp duty or seller’s stamp duty imposed.