News

Commercial Property

Staff Reporter

, Singapore

Published:

1 year ago

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Press photo

Samsung Hub office unit sells for $14.8m

This is equivalent to $4,117 per sq ft.

A 3,595 sf strata office unit at Samsung Hub was sold for $14.8m, translating to $4,117 per sq ft, according to Knight Frank Singapore.

"With this transaction, I'm happy to say we're seeing a return close to January 2022 levels, when a 3,875 sf unit was sold at $4,155 psf," said Mary Sai, executive director, capital markets (land & building, international real estate) at Knight Frank Singapore.

Samsung Hub is a 30-storey Grade A office tower located at 3 Church Street.

The property has a 999-year tenure and is close to Telok Ayer and Raffles Place MRT stations.

The most recent sale of office space in the building was a 2,906 sf unit on the 10th floor, which transacted at $3,921 per sq ft in November 2023.

A total of 49 freehold and 999-year strata offices changed hands in H1 2024, reflecting an increase of 16.7%. This is seven more transactions than the 42 recorded in H2 2023.

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