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Entire office floor in Springleaf Tower up for sale with S$29.5m guide price

THE entire 30th floor located in Grade A office building Springleaf Tower is up for sale via an expression of interest exercise, with a guide price of S$29.5 million.

This works out to about S$2,746 per square foot (sq ft) based on the strata area of 10,742 sq ft, exclusive marketing agent CBRE said on Wednesday. There will be no additional buyer’s stamp duty or seller’s stamp duty.

Springleaf Tower, at the junction of Anson Road, is a 37-storey office building in Singapore’s central business district (CBD). The sale offering, which will be sold on a vacant possession basis, comes with exclusive use of the lift lobby, restrooms and pantry.

CBRE managing director for capital markets Jeremy Lake said the offering provides a good opportunity for an occupier or an investor to purchase a high-quality strata office.

“Office floors within Springleaf Tower are tightly held by a very small number of owners and the opportunity to acquire one full floor located on a high floor offering unblocked sea views is rare and hard to come by,” Mr Lake said.

 The last transaction in Springleaf Tower for its 22nd floor was sold for S$2,602 psf in June 2018, setting a new benchmark within the building.

The offering will also appeal to investors looking to capitalise on the rising rents and capital values. Strong interest is also expected from end-users seeking investment in a high-quality premises for their own operations, he added.

The expression of interest exercise closes on Aug 1 at 3pm.

Sources: The Business Times, Jun 26 2019

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