The whole 30th floor of the strategically located Springleaf Tower has gone on sale for S$29.5 million.
This was announced by CBRE, its exclusive marketing agent of the sale. The 30th floor has a total strata area of 10,742 sq. ft. Each square foot works out at $2,746.
This sale will not include any seller’s stamp duty or additional buyer’s stamp duty, according to CBRE.
Moreover, CBRE stated that the entire floor will go on sale by way of an expression of interest exercise.
The Springleaf Tower is a 37-storey office and residential building that is strategically located at the very heart of the central business district of Singapore.
The attractive commercial property is located at 3 Anson Road near the Prince Edward Road surrounded by towering skyscrapers.
It is a Grade A office building that was completed in the year 2002.
The building itself has a grand entrance lobby bedecked with marbles. It also has a shielded drop-off point on its second floor that readily provides access to visitors and patrons.
Across level 2 and 5, there are parking provisions of around 131 lots.
The building definitely enjoys a relatively high occupancy rate with a mixed tenant profile of different trades.
The building also enjoys direct shielded connectivity via an underground walkway to the Tanjong Pagar MRT Station.
The 30th Floor of the building, on the other hand, allows for an unobstructed panoramic view of the sea. It also comes with its exclusive lift lobby, pantry, and restrooms.
Jeremy Lake, the capital markets’ managing director of CBRE said that this offering provides a great chance for prospective investors and tenants to buy a high-quality office space.
In the first month of 2007, in January, twelve floors of the Springleaf Tower went on sale and were bought by Macquarie Global Property Advisors for S$134 million.
In October, however, of the same year, these twelve floors again were sold at a staggering S$225 million to SEB Asset Management.
Springleaf Tower’s last transaction involves the selling of the 22nd floor in June 2018 which record price work out at S$2,602 psf.
This price has since become the benchmark for any future selling transaction within Springleaf Tower.
The area wherein the Springleaf Tower is situated is indeed a vibrant business area in Singapore.
Hence, it is not an overstatement to say that the Springleaf 30th floor is truly a good buy.
Lastly, the Expression of Interest Exercise for Springleaf Tower will close at 3 pm, August 1st.