Portfolio of 14 strata offices at High Street Centre for sale at $17.8 mil
Full occupancy by a co-working operator may appeal to income-focused investors, while flexible layouts could support future multi-tenancy and leasing strategies.
Fourteen strata offices totalling approximately 9,300 sq ft at High Street Centre are offered for $17.8 million, or $1,913 psf.
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A portfolio of 14 strata offices across two floors at High Street Centre, a mixed-use development at 1 North Bridge Road, is up for sale via an expression of interest (EOI) exercise with a guide price of $17.8 million.
The portfolio comprises an entire floorplate of 10 units on the eighth floor, alongside four units on the ninth floor. With a total strata area of approximately 9,300 sq ft, the guide price works out to $1,913 psf.
The portfolio is fully leased to a co-working operator, according to CBRE, the exclusive marketing agent.
Read also: North Bridge Road commercial building for sale at $70 mil
The firm adds that the offices have regular and efficient layouts that can accommodate a range of occupancy and leasing strategies, including multi-tenancy arrangements.
Situated along the Singapore River waterfront, High Street Centre is a 99-year leasehold development completed in 1974. The 29-storey building features apartments, offices and retail units.
The development is within walking distance of the City Hall MRT Interchange (North-South and East-West lines) and the Clarke Quay (North-East Line) and Fort Canning (Downtown Line) MRT stations.
As the strata offices up for sale are commercial properties, foreigners are eligible to purchase the portfolio. There will also be no additional buyer’s stamp duty and seller’s stamp duty imposed on the transaction.
URA caveats show the most recent commercial transaction at High Point Centre was for a 1,001 sq ft strata office unit on the 19th floor that changed hands for $2.15 million, or $2,150 psf, on June 23.
The EOI exercise will close on August 18, at 3pm.
Check out the latest listings for High Street Centre properties