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Two office floors at Malacca Centre up for sale

TWO office floors located at levels nine and 16 of Malacca Centre have been put up for public tender, sole marketing agent CBRE announced on Wednesday.

Spanning 1,830 square feet (sq ft), the level nine office has an indicative price of S$6 million or S$3,278 per square foot (psf).

Meanwhile, the level 16 office has a gross floor area of 2,142 sq ft and an indicative price of nearly S$6.9 million or S$3,211 psf.

Collectively, the guide price is about S$12.9 million or S$3,242 psf. Both offices are currently occupied.

According to CBRE, Malacca Centre is a 999-year leasehold commercial building with easy access to Raffles Place MRT Interchange and Downtown MRT station.

Michael Tay, head of capital markets, Singapore at CBRE, said: “Against a tight office supply for 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.”

The previous Wednesday, the real estate company had also put up a high-floor strata office at Suntec Tower 2 for sale via expression of interest.

Standing at 12,281 sq ft, the Grade-A office had an indicative price of S$37.5 million or about S$3,050 psf.

The expression of interest for the Suntec Tower office will close at 3pm on June 3, while the tender for the two Malacca Centre offices closes at 3pm on June 17.

The Business Times

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