A strata office floor in Jalan Besar is up for sale. The freehold office floor in the Sim Lim Tower has set a reserve price of S$15 million.
This was informed by Edmund Tie & Company, the marketing agent for this sale.
The sale freehold property is located at the 15th floor in the 17-storey building. The 778 sq m (8,374 sq ft) office floor offers a 360° panoramic view of the surrounding vicinity which includes several nearby shophouses.
Going by the asking price of S$15 million, the rate translates to S$1,791 psf for the strata area.
There are several amenities in the vicinity that include hotels, banks and the Albert Centre Market & Food Centre.
With Tekka Place the upcoming mall that will also have 320 serviced residences this area is expected to undergo a major change.
Located in the fringes of the City Centre, Sim Lim Tower is well connected. The Jalan Besar MRT part of the Downtown Line is the nearest to this site.
Little India, Rochor and Bugis MRT Stations are well within 600 meters of this building and this offers access on the North East, Downtown, and East West lines.
Edmund Tie & Company while highlighting the advantage of the Sim Lim Tower said that this site would benefit extensively from the rejuvenation and transformation projects that are being taken up in Beach Road and Ophir-Rochor Corridor.
Several mixed-use developments are under development here. It added that new and under development projects such as South Beach, DUO, Shaw Tower, Tekka Palace and Guoco Midtown will add to the vibrancy.
ET & Co’s Executive Director of Investment Advisory, Swee Shou Fern noted that this freehold office floor is in an attractive investment opportunity for any investor.
Swee added that it was also a rare opportunity as the fast-growing office sector in the city fringes where the demand has been rising.
The freehold nature of the site and the mesmerising views on offer should serve as a great attraction for investors as well as those looking to occupy the property and look into long term investment value.
There is no seller’s stamp duty or additional buyer’s stamp duty applicable on the property as it has been zoned commercial and foreign nationals can also acquire this property.
The tender for this site will close on July 23 at 3:00 PM.