# Commercial building at 15 Phillip Street in Raffles Place for sale at $91 mil - **Source:** EdgeProp Singapore - **Published:** 2026-10-23T09:08:27.000Z - **Author:** Deepa Chevi - **Original:** https://www.edgeprop.sg/property-news/commercial-building-15-phillip-street-raffles-place-sale-91-mil - **Topics:** Government & Policy, Transactions & Deals, Investment & Capital Markets ## Featured rationale Its unutilised gross floor area and potential eligibility for strata sales may attract investors seeking value creation from a rare sub-$100 million Raffles Place asset. ## AI summary The 999-year leasehold commercial building at 15 Phillip Street is offered at $91 million, with redevelopment potential under a plot ratio of 15. ## Original article A 10-storey commercial building at 15 Phillip Street in Raffles Place has been put up for sale through an expression of interest (EOI) at a guide price of $91 million. Also known as Tan Ean Keam Building, the 999-year leasehold property sits on 358.3 sq m (approximately 3,857 sq ft) site, with a coffee shop occupying the basement, first and second floors. The eventual buyer can opt to either carry out asset enhancement works or redevelop it to “fully optimise” its unutilised gross floor area, said sole marketing agent ETC, a member of Realion Group, on Oct 23. Read also: Aedge acquires corner terraced property on Westerhout Road for $7.5 mil Under the URA Master Plan 2025, the site is zoned for commercial use with a plot ratio of 15 and a building height control of more than 50 storeys. The property falls outside the areas subject to URA's restrictions on the strata subdivision of commercial space. This means the commercial redevelopment project may potentially be considered for strata sale in the future, according to ETC. Swee Shou Fern, head of investment advisory at ETC, said there is potential for building signage and naming rights, which may appeal to companies looking to establish their corporate headquarters in Raffles Place. Owner-occupiers can also have greater control over their premises and occupancy costs. In Singapore’s office investment market, smaller commercial assets in strategic locations continue to attract interest from investors seeking a more manageable price tag, Swee added. "Such prized assets are tightly held and there is hardly any available for sale at under $100 million," she noted. Located in the CBD, 15 Phillip Street is surrounded by commercial developments including CapitaSpring, Republic Plaza, UOB Plaza, One Raffles Place and OCBC Centre. Other nearby buildings include Royal One Phillip, Royal Group Building and Grand Building. Read also: Middle Road commercial building for sale at $80 mil The property is within walking distance of Raffles Place MRT interchange, serving the North-South and East-West lines, as well as Telok Ayer MRT Station on the Downtown Line. It is also close to dining, retail and other amenities in the CBD. As a commercial property, the acquisition is not subject to additional buyer's stamp duty, and there are no restrictions on foreign ownership. The EOI exercise will close at 3pm on Nov 25. ## Chinese translation > Translation model: grok_cli ### 莱佛士坊菲利普街15号商业大厦以9100万新元求售 最终买家可选择进行资产提升工程或重建该物业，以优化尚未使用的总楼面面积，ETC表示。 位于莱佛士坊菲利普街15号的一幢10层商业大厦，已通过意向征集（EOI）方式挂牌出售，指导价为9100万新元。 该物业又名Tan Ean Keam Building，属999年租赁地契，坐落于一块358.3平方米（约3,857平方英尺）的地块上，地下层、一楼及二楼由一家咖啡店占用。 独家营销代理、Realion Group成员ETC于10月23日表示，最终买家可以选择进行资产提升工程，或重建该物业，以“充分利用”其尚未动用的总楼面面积。 延伸阅读：Aedge以750万新元购入Westerhout Road转角排屋 根据市区重建局（URA）2025年总体规划，该地块划为商业用途，容积率为15，建筑高度管制为超过50层。 该物业不在市区重建局对商业空间分层分契设限的区域之内。ETC表示，这意味着该商业重建项目未来或有可能被考虑进行分层出售。 ETC投资咨询主管Swee Shou Fern表示，大厦标识及冠名权具备潜力，或会吸引有意在莱佛士坊设立企业总部的公司。自用业主也可对自身场所及占用成本拥有更大的掌控权。 Swee补充道，在新加坡办公楼投资市场，位于战略地段的小型商业资产，持续吸引寻求更易承受总价的投资者。 她指出：“此类珍稀资产握持甚紧，总价低于1亿新元的可供出售物业几乎没有。” 菲利普街15号位于中央商务区（CBD），周边商业发展项目包括CapitaSpring、Republic Plaza、UOB Plaza、One Raffles Place及OCBC Centre。附近其他大厦包括Royal One Phillip、Royal Group Building及Grand Building。 延伸阅读：Middle Road商业大厦以8000万新元求售 该物业步行即可抵达接驳南北线及东西线的莱佛士坊地铁转换站，也可步行前往滨海市区线直落亚逸地铁站。它亦靠近中央商务区内的餐饮、零售及其他配套。 作为商业物业，此项收购无须缴纳额外买方印花税（ABSD），且对外资所有权没有限制。 此次意向征集将于11月25日下午3时截止。