Savills Singapore, as the exclusive marketing agent, is pleased to offer for sale an entire full office floor, located at Suntec Tower 1.
Situated on a high floor at Suntec City, this office floor comprises three individual strata titles, ranging from 3,498 sq ft to 4,908 sq ft and totalling 12,045 sq ft. Featuring a regular and flexible floorplate with six individual units, the property offers immediate and stable rental income, making it a compelling investment opportunity.
Suntec City is a renowned integrated development featuring five Grade A office towers, one of Singapore’s largest retail malls, and a world-class convention and exhibition centre. Originally developed in the mid-1990s with a "city within a city" concept, the property underwent extensive asset enhancement initiatives in 2022, including upgrades to entrance lobbies, reception areas, concierge desks, lift lobbies, and restrooms, further enhancing its appeal. With over 3,000 parking spaces available across multiple levels, Suntec City ensures convenience and accessibility, complemented by a dedicated, sheltered drop-off area at the entrance of Tower 1.
The development enjoys seamless connectivity to the North-South, East-West, Downtown, and Circle MRT Lines, with direct, sheltered access to City Hall, Promenade, and Esplanade MRT stations. It is also well-connected to major expressways, including the East Coast Parkway (ECP), Ayer Rajah Expressway (AYE), and Pan Island Expressway (PIE), ensuring excellent accessibility.
Ms. Sophia Lim, Director, Investment Sales & Capital Markets at Savills Singapore, comments: “Suntec City remains a top choice amongst family offices, investors, and end-users, valued for its prime attributes including panoramic views, an impressive arrival lobby, ample carparking, efficient floor layouts, and seamless integration of amenities. 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.
“Furthermore, the offices on the high floors of Suntec City are always sought after for their panoramic views of the city skyline, waterfront promenade and Kallang Basin,” adds Ms. Lim.
Recent strata office transactions at Suntec City have demonstrated stable demand with two strata office units on level 37 that sold at $3,684 psf and $3,736 psf in March and June 24, respectively. Another strata office unit on level 38 transacted at $3,817 psf in May 2024. Ms. Lim also brokered the sale of a full office floor plate at Suntec Tower 2 Level 31 at $41.15 million in 2022 previously, which is the largest full floor transaction till date.
The guide price for this full floor is $40.95 million, which equates to an average price of about $3,400 per square foot on strata area. Investors can expect to enjoy a yield at approximately 3.8% on a fully let basis.
Both foreigners and companies are eligible to purchase, and no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be payable.
The sale will be conducted through a Private Treaty exercise.