Rare Sale – 6 Units for S$11.97 million
At a time when the office market has been showing exponential growth offering attractive rental yields, a rare opportunity has emerged at CBD from landmark building, International Plaza at 10, Anson Road.
Six strata offices abutting each other with a combined price tag of S$11.97 million has hit the market, wooing investors with an attractive leaseback scheme that generates 4.2% rental yield annually for the next five years.
It is notable that the guide price has been kept quite reasonable at S$1,850 psf which is comparable to the average price of S$1,895 from 13 different office spaces in the building that got sold in the later half of 2018.
As one of the pioneers built with live, work, play concept during 1970s, the 99-year leasehold, 50 storey mixed development is a self contained facility complete with lifestyle amenities in and around.
For both the workforce and the visiting guests, it offers great dining options, shopping spots and lodging facilities, apart from recreational centres around.
Spread over 6,469 sq ft and thoroughly made up for ready use, Steven Tan of Colliers International who is the Director, finds the opportunity timely and futuristic as well with URA’s Greater Southern Waterfront in the vicinity.
Since International Plaza is zoned commercial, Seller’s Stamp Duty (SSD) and Additional Buyer’s Stamp Duty (ABSD) are not applicable for this sales transaction.
Moreover, foreigners are eligible to invest on these strata office units.
As many global companies with interest in Southeast Asia prefer to establish headquarters in Singapore and with many Business Centres vying to establish coworking spaces in CBD, it remains to be seen, the portfolio of the future owner to occupy this coveted space in International Plaza.