The 16-storey office building at 139 Cecil Street is up for sale at $218 million.
The building is 100% leased to Campfire Collaborative Spaces, a Hong Kong co-working outfit, for an initial six years. With a net lettable area of about 85,000 sq ft, the property will be Campfire’s largest site globally.
The property in the CBD comes with a restaurant on the ground floor, and a pool at the roof terrace. Naming and signage rights to the building are also available.
Artist impression of the fully completed 139 Cecil Street (Credot: CBRE-JLL)
The original 11-storey building is going through an extensive 18-month additions and alterations by the current owner.
“Investors will be able to enjoy immediate, long-term and stable cashflow with built-in rental escalations,” says Clemence Lee, Singapore senior director of JLL, which is jointly marketing the building with CBRE.
139 Cecil Street is within a 500-metre radius to three existing MRT stations, namely Raffles Place, Telok Ayer and Downtown, as well as to Shenton Way, which is on the Thomson-East Coast Line that is scheduled to operate from 2021.
The expression of interest exercise will close on April 17.