[UPDATE] TE Capital Partners and LaSalle Investment officially launch strata offices at Solitaire on Cecil
By Cecilia Chow
/ EdgeProp Singapore |
View of the CBD and the Telok Ayer Conservation Area from Solitaire on Cecil (Picture: TE Capital Partners)
SINGAPORE (EDGEPROP) - Solitaire Cecil, the joint venture held by funds managed by TE Capital Partners and LaSalle Investment Management, officially launched the freehold, Grade-A office development Solitaire on Cecil for sale. TE Capital is also the development partner of the project.
Located at 148 Cecil Street in the CBD, the Solitaire on Cecil is within a three- to eight-minute walk of four MRT stations: the Telok Ayer MRT station on the Downtown Line, the Tanjong Pagar MRT station on the East-West Line, the Raffles Place MRT Interchange station on the North-South and East-West Lines and the newly opened Shenton Way MRT station on the Thomson-East Coast Line.
The 20-storey Solitaire Cecil is targeted to complete by April 2028 (Picture: TE Capital Partners)
The 20-storey commercial building sits on a 19,536 sq ft freehold site. It has 190,000 sq ft of Grade-A office space and over 2,000 sq ft of F&B space. Full floors are available for strata sale at levels 5, 13, 14 and 15. (Find Singapore commercial properties with our commercial directory)
During the preview in January and February, TE Capital sold two strata floors at levels 6 and 12 for $3,865 psf and $4,196 psf, respectively. The $4,196 psf achieved for the 12th floor is a record psf price for a strata office space. The buyer, a foreigner, paid $52.3 million for the entire floor, according to Cushman & Wakefield, one of the appointed marketing agencies who brokered the deal. The 12th floor has an area of 12,465 sq ft and has already been subdivided into eight strata-titled units of 1,190 to 2,530 sq ft. This gives the buyer the flexibility of selling the units individually in the future, says Cushman & Wakefield.
According to TE Capital, the availability of new freehold strata-titled office units for sale has become rare following restrictions limiting strata subdivision of commercial property in the CBD.
Each floor plate has an average size of 13,000 sq ft with a floor-to-floor ceiling height of 4.9m (Picture: TE Capital Partners)
Solitaire on Cecil has efficient floor plates averaging 13,000 sq ft with a floor-to-floor ceiling height of 4.9m. Each floor has the flexibility of accommodating single or multiple tenants. Standing 127m tall, the offices will have views overlooking the CBD and the Telok Ayer Conservation Area.
The building designed by DP Architects has incorporated sustainable features, earning a Green Mark Platinum Certification from the Building and Construction Authority. With Coen Design International as the landscape architect, Solitaire on Cecil has 27,000 sq ft of green, wellness and collaborative spaces. It includes the Solitaire Wellness Club on level 4, which features work pods, lawns, a square for movie screenings, and a fitness and parkour gym amid the greenery.
The Solitaire Sky Lounge on the roof level offers an alternative space for work and dining (Picture: TE Capital Partners)
Other facilities within the building include the Solitaire Sky Lounge on the roof level, which offers an alternative space for work and dining. There are also end-of-trip facilities with bicycle parking, lockers, showers and changing rooms on level 3.
Solitaire Cecil is a redevelopment of the former PIL Building, which the funds managed by TE Capital and LaSalle Investment purchased for $323.8 million in December 2021. The new office building will be complete by April 2028.
Check out the latest listings near Cecil Street, Telok Ayer Conservation Area, Telok Ayer MRT station, Tanjong Pagar MRT station, Raffles Place MRT Interchange station, Shenton Way MRT station
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