SINGAPORE (EDGEPROP) - A freehold strata office unit at 6 Raffles Quay in prime District 1 has been put up for sale at $18.8 million via an expression of interest (EOI) exercise, according to a JLL press release dated March 12. Based on an approximate strata floor area of 4,994 sq ft, this translates to $3,765 psf. The unit is located on the 16th floor and will be sold vacant. It takes up about half of the level’s floor plate and has partial sea views and views of Marina Bay.

6 Raffles Quay is a 25-storey commercial building at the intersection of Raffles Quay and Telegraph Street. It provides fully sheltered direct access to the Raffles Place MRT Interchange Station and is five minutes from the Downtown MRT Station. The development features 114 parking lots spanning the third to ninth floors and a sheltered drop-off point at the building's front.

Given its size and vacancy, Terry Wong, senior director of capital markets at JLL, expects interest from family offices and high-net-worth individuals looking for high quality freehold commercial assets for long-term capital accumulation and wealth preservation. Owner-occupiers can lock in long-term operational costs and protect themselves against fluctuations in office rental cycles, he adds.

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The property is eligible for foreigners and companies, with no additional buyer’s or seller’s stamp duty payable. The EOI exercise closes on April 18 at 3pm.