SINGAPORE (EDGEPROP) - A strata office unit at The Adelphi has been put up for sale by expression of interest at an indicative price range of $11.8 million to $12.0 million. At 4,209 sq ft, this works out to $2,803 to $2,851 psf. As the office unit is a commercial property, it is not subjected to Additional Buyer’s Stamp Duty, and is open to both local and foreign purchase.

See also: Former KTV lounge space at The Adelphi selling for $9.5 mil

Located on the eighth floor with unblocked views of Marina Bay Sands and the CBD, the property at The Adelphi is 999-year leasehold. Situated at 1 Coleman Street, it’s linked at the basement level directly to The Funan, Capitol Piazza and Raffles City as well as the City Hall MRT interchange station, which is an interchange for both the East-West and North-South Lines.

Given the recent government announcement banning strata subdivision of new commercial buildings in the CBD, Orchard Road and the Museum area, Mary Sai, executive director of capital markets at Knight Frank Singapore, sees “limited supply of good-sized, 999-year leasehold or freehold commercial units in these prime areas”. Knight Frank is the exclusive marketing agent for the unit. (Find Singapore commercial properties with our commercial directory)

Transaction data for sales of offices in Singapore (Source: EdgeProp Market Trends tool)

The easing of safe management measures as well as recent property cooling measures targeted at residential property investors has shifted demand to commercial properties, including strata office units, notes Knight Frank’s Sai.

The strata office unit at The Adelphi is offered for sale by expression of interest, which will close on April 28.

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