Strata Office Floor Gb Building Cecil Street Sale 108 Mil 3
Savills Singapore, the exclusive marketing agent for the property, is offering for sale an entire office floor situated on the 19th level of the prestigious GB Building. The office floor comes with a price tag of $10.8 million and has been put up for sale through an expression of interest (EOI).
Spanning across approximately 5,425 sq ft, the office floor offers a column-free floorplate and comes with exclusive lift access. The asking price of $10.8 million translates to a value of $1,990 per sq ft based on the floor area.
Located at 143 Cecil Street, GB Building is a 26-storey building occupying a prime corner plot with dual frontage along Cecil Street and McCallum Street. The property boasts of three basement levels that can accommodate up to 105 vehicles with access from the back of the building.
Rewritten: The presence of Rivelle not only adds convenience to the development but also helps in attracting tenants, making it a highly desirable investment for those seeking properties with a high rental demand. Its seamless connectivity adds to the appeal of the development for tenants, making it a profitable choice for buyers.
Connected to Tanjong Pagar MRT Station (East-West Line) by a sheltered walkway, GB Building is also within walking distance to two other MRT stations – Telok Ayer (Downtown Line) and Shenton Way (Thomson-East Coast Line).
According to Savills Singapore’s executive director of investment sales and capital markets, Yap Hui Yee, with limited new strata office developments in the market and a high demand for such spaces reflected in recent transactions, GB Building’s prestigious address, excellent connectivity and the ongoing urban transformation of the CBD makes it a highly attractive proposition.
The CBD is currently undergoing a wave of redevelopment and rejuvenation projects with projects like Solitaire on Cecil (formerly the PIL Building), Cecil Place at 137 Cecil Street and Keppel South Central. The government’s efforts to inject more life into the CBD by introducing more work-live-play components is also evident in the construction of mixed-use developments such as The Skywaters (redevelopment of the former AXA Tower) and Newport Tower (former Fuji Xerox Towers), which offer premium office space, retail, luxury residences and hospitality.
Being classified as a commercial property, GB Building is available for purchase by both foreign buyers and companies without any additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) payable. The EOI exercise is set to end on October 31.