Savills Singapore is pleased to announce the launch of a Grade A strata office unit at Prudential Tower, a prestigious landmark strata office building in Raffles Place financial district, with an asking price of S$16 million.
This premium office space spans 5,015 sq ft and boasts an unblocked view of conservation shophouses, making it a prime choice for discerning corporate users seeking an exceptional work environment in Singapore's bustling Central Business District (CBD).
The unit offers excellent specifications and features that set it apart from other strata offices in the CBD. Its regular and column-free layout maximises usable space. Currently, the unit is 100% occupied by Multinational Corporations (MNCs), underscoring the location's appeal to high-profile businesses. For those looking to occupy the space as a corporate office, this unit can be sold with vacant possession, providing flexibility for potential owner-occupiers.
One of the many advantages of this offering is the ample car parking spaces available within the building, catering to businesses that require secure and convenient parking. Additionally, the property comes with direct access to the Raffles Place MRT Interchange station and Telok Ayer MRT station, ensuring unparalleled connectivity for those commuting from various parts of the city.
A significant benefit of this sale is the SPV (Special Purpose Vehicle) structure, which allows for an efficient holding mechanism that results in savings of 4.8% in Buyer Stamp Duty. Furthermore, there is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) applicable. Foreigners and companies are also eligible to purchase this office unit, broadening the pool of potential investors.
Ms. Yap Hui Yee, Executive Director, Savills Investment Sales & Capital Markets says, “This office unit is positioned in a prime location, offering a unique combination of modern amenities and exceptional views. The strata office market in Singapore has shown resilience and growth, making this opportunity particularly compelling. Compared to freehold strata offices sold at above S$4,000 per square foot, our asking price of S$16 million, translates to S$3,190 per square foot for a 99-year office with balance land tenure of 71 years, represents an attractive value proposition for corporate users looking to establish their presence in one of Asia’s leading business hubs.”
“As the demand for quality office space continues to rise, we believe that this unit not only meets but exceeds the expectations of today’s corporate tenants. The integration of modern infrastructure, strategic location, and the potential for high returns makes this a smart investment for both local and foreign buyers. As businesses navigate the evolving landscape of remote and hybrid work, the need for premium office spaces that offer flexibility, connectivity, and an inspiring environment remains crucial. The Prudential Tower office unit embodies these principles, providing a distinguished address that caters to the needs of today’s corporate landscape.”