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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Penthouse office floor at Chinatown Point for sale at $2,080 psf

It consists of four strata-titled units with a combined floor area of 9.719 sqft.

A penthouse office floor in Chinatown Point which is one of the largest office and retail developments in Singapore is up for sale via an expression of interest (EOI) exercise at a guide price of $2,080 psf, an announcement by CBRE revealed.

The sale consists of four strata-titled units ranging from 2,346 sqft to 2,486 sqft. The combined strata floor area comes to approximately 9.719 sqft.

“We have observed that this development has been extremely popular with law firms who want to be near to the State Courts, and the Family and Juvenile Court,” CBRE’s director of capital markets Sammi Lim said in a statement. 

Lim added that many of the development’s occupiers are attracted by its prime location in Singapore’s renowned historical Chinatown district, as well as the variety of amenities in close proximity and the direct linkage to the Chinatown MRT Interchange Station.

“Investors have the option to divest the units on an individual basis in the future,” she highlighted, citing that both local and foreigners are eligible to purchase them without additional buyers’ stamp duty (ABSD) or sellers’ stamp duty imposed on the units.

The mixed use development comprises of an office block from the 8th to 25th storey and a retail podium from the basement 2 level to the 5th storey, CBRE highlighted. It was completed in 1990 and later refurbished in 2012, offering a tenant mix of banks, restaurants, cafes, a library, supermarket and lifestyle concept stores.

The EOI exercise will close on 22 February 2019 at 3 p.m. 

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