Private preview opens for new strata commercial units at One Sophia, priced from $3,000 psf
By Timothy Tay
/ EdgeProp Singapore |
The office units range from 720 sq ft to 4,530 sq ft, but approximately half of the units range from 721 sq ft to 1,614 sq ft.
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SingHaiyi and its joint venture partners have begun the private preview for its strata commercial units at One Sophia, a new mixed-use project that is being developed on the site of the former Peace Centre at 1 Sophia Road.
The 13-storey commercial tower will consist of 122 strata-titled office units and 127 strata retail units. The retail units will be within a two-storey retail podium while the office units occupy the remaining 11 floors. There will also be a three-storey basement carpark with 273 car park lots.
The office units range from 720 sq ft to 4,530 sq ft, but approximately half of the units range from 721 sq ft to 1,614 sq ft.
Get the latest details on available units and prices for The Collective At One Sophia
The range of unit sizes available at One Sophia has attracted a wide mix of end-users and investor profiles, says Tan Hong Boon, executive director of Capital Markets at JLL Singapore. JLL was one of the marketing agents and brokered the collective sale of Peace Centre and Peace Mansion.
“The unit sizes are the right choice for the market demand in this area. Our team is advising several clients who are looking to purchase several adjoining units, and a handful who are considering buying out an entire floor,” says Tan.
The 13-storey commercial tower consists of a two-storey retail podium and 11 floors of office space. (Picture: Benny Kee/The Edge Singapore)
EdgeProp Singapore understands that the developers have released an indicative pricing of $3,000 psf to $3,500 psf for office units on the third to fifth floors and is gauging buying interest during the ongoing private preview before releasing the sales price and the units that will be launched for sale.
One Sophia represents the commercial element of the upcoming mixed-use project. The residential component is called The Collective at One Sophia. It consists of two 19-storey private residential tower blocks housing 367 apartments. Residential units will range from studios and one- to three-bedroom units.
The Collective at One Sophia is expected to preview next year. The entire development will also be managed by three separate Management Corporation Strata Title (MSCT) that will each oversee the office, retail and residential components.
A joint venture comprising CEL Development, SingHaiyi Crystal and Ultra Infinity successfully acquired the former Peace Centre and adjacent Peace Mansion in a collective sale worth $650 million in December 2021, which translates to $1,426 psf per plot ratio.
A mock up of an office unit at One Sophia. (Picture: Benny Kee/The Edge Singapore)
“One Sophia has garnered strong interest from prospective owner-occupiers and investors who have been drawn in to the wider transformative potential that One Sophia will bring to this area,” says Tan.
One Sophia’s prime location at the junction of Sophia Road and Selegie Road puts it within striking distance of Bras Basah, Bugis, Dhoby Ghaut and the Orchard Road shopping belt. The development is close to four MRT stations: Dhoby Ghaut Interchange, Bencoolen, Brash Basah, and Rochor.
“The project has drawn the attention of investors as it is only new project in the Orchard Road area offering new strata commercial units for sale. Its pricing is also competitive with most freehold strata-titled office developments in the area going for more than $4,000 psf,” says Tan.
He adds that although One Sophia is a 99-year leasehold development, the indicative price is reasonable. “One Sophia also has an edge over the surrounding commercial buildings which maybe freehold but were not built to modern wellness and sustainability standards prevalent in new commercial buildings today,” says Tan.
One Sophia is being developed on the site of the former Peace Centre at 1 Sophia Road. (Picture: SingHaiyi)
The developers have brought in ADDP Architects and studioMilou realise the concept and design of One Sophia. The signature architectural element is two lushly planted curvilinear planes that complement the vertical composition of gardens and office glass boxes fronting the commercial block. Only the third, eighth, and 13th office floors will have direct access to garden terraces on their respective floors.
Typically, newly built Grade A offices feature ceiling height of about 4m, but the strata units at One Sophia will be 3.1m high. The development has also attained Green Mark Gold Plus from BCA, whereas most new Grade A developments on the market claim the higher Green Mark Platinum certification. The basement car park lots, which is shared with the residential units, will be available for season parking.
In terms of the retail curation, EdgeProp understands from industry sources that the developer intends to curate the selection of brands and retail concepts. In total, One Sophia has 127 retail units spread across 90,000 sq ft.
Either brands that are new to the market or existing brands that can introduce new retail concepts are being considered. The same industry source also indicated that the developers hope to bring in leisure, wellness and entertainment concepts to diversity the retail offering at One Sophia.
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