Grade-A office space in Prudential Tower priced at $36 mil

A Feb. 22 press release stated that an office on the high floor of Prudential Tower located in the CBD was being sold via an Expression of Interest (EOI). The asking price for this office is $36,000,000.

This office, which occupies a full floor plate, has a strata space of 11,819 ft2. This translates to a strata area guide price of approximately $3,050.

The property is zoned as commercial and therefore, both foreigners and businesses are eligible to purchase the property. There is no additional stamp duty payable for either the buyer’s or seller’s.

Get to know more about Sora Condo at Jurong Lake District.

The office is leased by a multinational property consultancy. According to a spokeswoman, this rental offers investors stability and immediate rental.

As a result of this, strata office in well-located Grade A developments, such as Prudential Tower, continue to be highly sought after by a variety of buyers including owner-occupiers and corporate investors as well as family offices and individuals with high net worth.

According to the marketing agent, the new owners can subdivide their floor into smaller units upon the expiration of the lease for the tenant or into smaller strata unit to sell at a later date, with the approval of MCST.

There is a shortage of new strata properties in Singapore due to the recent URA policy limiting strata subdivisions of existing and new commercial building in CBD areas.

Prudential Tower in the CBD is a 30-storey strata-titled tower. The development sits in a corner lot and has a dual-road frontage along Church Street and Cecil Street of about 87m.

There are 181 parking lots on the second to eighth floors.

Telok Ayer MRT Station, which is a short walk away, has direct access and full shelter to the Raffles Place MRT Interchange Station.

The EOI exercise ends on March 28th at 3pm local time.

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