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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Six strata offices at International Plaza for sale at $11.97m

The adjoining office units have a combined floor area of approximately 6,469 sqft.

Six adjoining strata office units at mixed development International Plaza in the Central Business District (CBD) are up for sale at $11.97m via private treaty, according to an announcement by Colliers International.

The office units, which are located on high floor, have a combined floor area of approximately 6,469 sqft with an efficient and regular unit layout, as well as a highly visible lift lobby frontage, according to Colliers. The guide price translates to $1,850 psf, and is lower than the average price of $1,895 for 13 office space transactions at the development over the last six months.

International Plaza comprises of residential apartments, offices, a retail podium and a wide variety of food & beverage (F&B) options, on top of being well served by public transport. It is located above the Tanjong Pagar MRT station and is a few minutes walk from the Telok Ayer MRT station.

“This is a rare opportunity to own adjoining strata offices in one of the most highly sought-after business locations in Singapore,” Steven Tan, director for capital markets and investment services at Colliers International, said in a statement. “We believe the six strata offices offered for sale will appeal to astute investors, who are looking to capitalise on the tight CBD office space supply situation in Singapore.”

The office units are available on a sale and leaseback scheme with immediate annual gross rental yield of 4.2% for at least five years, Colliers highlighted.

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