Strata office units at The Plaza for sale at $7.44 mil
/ EdgeProp Singapore |
The Plaza (Picture: CBRE)
SINGAPORE (EDGEPROP) - A portfolio of ten adjoining office strata units in The Plaza, a mixed-use development along Beach Road, is up for sale via an expression of interest exercise with a guide price of $7.44 million. The units, located on level nine, have a combined gross floor area of around 4,650 sq ft. Hence, the guide price works out to $1,600 psf on the total strata area.
“Given the strategic location of The Plaza, we expect strong interest from both investors and owner-occupiers for these strata office units,” comments Michael Tay, head of capital markets, Singapore at CBRE.
The Plaza is a 30-storey mixed-used development comprising offices, apartments, a hotel, serviced suites and a retail podium. It is within walking distance of the Bugis MRT Interchange Station and Nicoll Highway MRT Station.
Recent commercial resale transactions at The Plaza (Source: EdgeProp Research tool)
Joshua Giam, CBRE's associate director of capital markets, Singapore, says the portfolio provides investors an opportunity to leverage on the transformation of the Beach Road and Bugis micro-market. "The strong leasing performance in new buildings such as Guoco Midtown which has secured a diversified mix of tenants from sectors such as financial services, automobile, shipping, and chemical, is testament to the attractiveness of this location and we expect demand for office spaces to further strengthen," he observes.
The expression of interest exercise closes on Apr 11 at 3pm.
Check out the latest listings near The Plaza, Beach Road, Bugis MRT Interchange Station, Nicoll Highway MRT Station
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