, Singapore

Strata office at The Adelphi for sale

Its indicative guide price is between $11.8m to $12m.

A strata office unit at The Adelphi is for sale via expression of interest (EOI), announced Knight Frank Singapore as its exclusive marketing agent.

The offered office unit sits on level 8 of The Adelphi and enjoys unblocked views of the Marina Bay Sands and the Central Business District. It has a strata area of 391 sqm or approximately 4,209 sq ft. Its indicative guide price is between $11.8m to $12.0m, which works out from $2,803 to $2,851 per sq ft. The sale is open to both locals and foreigners, with no additional Buyer's Stamp Duty imposed on the purchase.

"Considering the recent government announcement to restrict strata subdivision of new commercial buildings in some parts of CBD, the supply of good-sized strata units in prime areas will be limited. Given that the office unit is nicely fitted and reasonably priced, we expect it to attract keen interest," said Knight Frank Singapore executive director on capital markets Mary Sai.

The asset is perfect for both office users who want their own space in the CBD, as well as investors seeking stable rental returns, she added.

Total strata office transaction volumes remained stable in the second half of 2021, recording a total of 165 transactions. The total transaction volume in 2021 was 334, a huge increase of 56.8% year-on-year compared to 213 transactions in 2020 when market sentiment was impacted by the COVID-19 pandemic.

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