Suntec City, a prominent mixed-use development in the heart of Singapore, comprises five Grade-A office towers, a retail mall, and a convention center, making it a highly sought-after business location.
Recent transactions in Suntec City include the sale of a 3,078 sq ft office unit on the 37th floor of Tower 1, which was sold for $11.5 million ($3,736 psf) on June 20. Additionally, a 4,779 sq ft unit on the 22nd floor of Tower 3 changed hands for $15.3 million ($3,200 psf) on June 7.
Market sources indicate that the office floor now available for sale is situated on the 27th floor. Resale data shows that this entire floor was last purchased for $31.72 million ($2,634 psf) in June 2021.
“The demand for strata office spaces in Suntec City remains robust, driven by the limited supply of Grade-A office buildings that offer essential features such as convenient drop-off points, parking facilities, scenic views, and modern amenities,” says Terry Wong, Senior Director of Capital Markets at JLL Singapore.
The office floor on offer boasts a total strata floor area of 12,045 sq ft, with a guide price of $42.8 million, translating to $3,553 psf. The floor layout is regular and flexible, featuring seven individual units. The space is currently partially tenanted, and the sale will likely include the existing leases.
JLL is handling the sale through an Expression of Interest (EOI) exercise, which is set to close on August 20. The sale is open to both local and international investors, and neither Additional Buyer’s Stamp Duty (ABSD) nor Seller’s Stamp Duty (SSD) applies to this transaction.
Wong adds that the expansive floor plate offers flexibility for either communal use or subdivision, depending on the needs of future tenants or self-occupancy. “The entire floor comprises three separate strata titles, providing the option for future divestment as individual strata units,” he notes.
In a similar transaction last December, a 10,312 sq ft penthouse office floor on the 44th floor of Suntec Tower 3 was sold for $36.23 million ($3,513 psf), also handled by JLL.
The office floor currently on the market offers panoramic views of the Marina Bay area and the surrounding city skyline.
The location is well-connected, with direct access to nearby MRT stations including Promenade (Circle and Downtown Lines), Esplanade (Circle Line), and City Hall (North-South and East-West Lines). It also has easy access to major expressways such as the East Coast Parkway, Ayer Rajah Expressway, and Pan Island Expressway, making it a prime business address.