>

>

13,100 sq ft strata office floor at Samsung Hub sold for $49.8 mil

By Valerie Kor

/ EdgeProp Singapore |

February 28, 2020 4:00 PM SGT

SINGAPORE (EDGEPROP) - CBRE has recently brokered the transaction of a strata office floor on the 11th storey of Samsung Hub for $49.78 million. The 999-year building has 30 storeys in total.

The office floor comprises four strata units adding up to 13,100 sq ft. The psf price of $3,800 is the highest for a single strata office floor within the CBD in the last five years.

Michael Tay, head of capital markets at CBRE, says, “Grade A strata offices, such as those in Samsung Hub, are becoming an increasingly attractive investment option for institutional investors. Not only is there a scarcity of freehold or 999-year leasehold office space in Singapore, such space is also usually tightly held for long-term capital appreciation.”

“Against a backdrop of tight office supply in the next three years, we expect investors to continue to keep an eye on this asset class so as to tap into any potential upside opportunities over the long term,” adds Tay.

Samsung Hub is located at 3 Church Street, at the heart of the Raffles Place financial district.

Check out the latest listings near Samsung Hub, MRT Stations and Schools

For price trends, recent transactions, other project info, check out Samsung Hub project research page

Read also:

Institutional investors seen on the hunt for CBD deals but mind the price gap

CBD office tenants shifting to city-fringe locations: Colliers

Keppel REIT selling Bugis Junction Towers for $547.5 mil

Tags:

CBRE Samsung Hub CBD Michael Tay 999-year leasehold office office space Grade A Office Church Street raffles place

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong draws 10,000 as crowds surge at project sales galleries during Deepavali weekend

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Executive Condo launches in the pipeline to test new highs of $1,700 psf

4

Marina Bay Residences’ $5 mil revamp enhances residents’ living experience, delivers value in premium rents

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00