Whole Floor Visioncrest Orchard Sold 58 Mil Strata Office Sales Heat
A local company with global operations recently purchased a full strata floor of 14,725 sq ft on the sixth level of VisionCrest Orchard for $58 million, or $3,939 psf. This deal was facilitated by Alex Chuah, associate director of Huttons Asia. Surprisingly, this is not the highest price achieved in the development. In fact, in July of the same year, a floor of 14,844 sq ft was sold for $60.28 million ($4,061 psf) through a transaction on the SoReal platform. Another floor of 14,725 sq ft was sold for $59.19 million ($4,020 psf) just a year earlier in July 2024.
VisionCrest Orchard, previously known as VisionCrest Commercial, was launched for strata sales in July 2024 by real estate investment managers TE Capital Partners and LaSalle Investment Management. Since then, five out of the ten strata office floors (levels five to nine) have been sold, with prices ranging from $57 million to $60.28 million. The buyers include both business occupiers and investors.
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VisionCrest Orchard is an 11-storey freehold commercial building with 10 floors of strata-titled office space (levels two to 11) and 11 strata-titled F&B units on the ground floor. Four of the F&B units have already been sold at an average price of $5,100 psf. The building was acquired for $450 million, or almost $3,000 psf, in November 2023 by TE Capital and LaSalle Investment. Later on, Singapore-listed Metro Holdings bought a 20% stake, with TE Capital holding 29.9% and LaSalle holding 50.1%. The joint venture renovated and repositioned the property, rebranding it as VisionCrest Orchard in July 2024.
“The strata office market has been showing steady interest in 2025,” says Chuah. Freehold, strata-titled office floors of this size are rare in the prime Orchard Road area in District 9. Last year, the record was set at Tong Building, where three deals were brokered by Savills’ Yap Hui Yee in September 2024. A full-floor unit of 6,867 sq ft on the sixth level was sold to Parkway Hospitals for $31.33 million ($4,562 psf), while The Hour Glass acquired two full floors on the ninth and 10th levels for $33.5 million ($4,878 psf) and $35 million ($5,097 psf) respectively. The $5,097 psf transaction set a new record for strata office space on Orchard Road.
Other prime developments in the market include 108 Robinson Road, Cecil Place at 137 Cecil Street, The Golden Mile, and One Sophia. One Sophia comprises a 13-storey commercial block with 122 strata-titled office suites and a two-storey retail podium with 127 strata-titled shops. Next to it is a 367-unit residential tower, The Collective at One Sophia. The project is a redevelopment of Peace Centre and Peace Mansion, acquired en bloc for $650 million in December 2021 by SingHaiyi and Ultra Infinity. Since its launch in October 2024, 32 strata office units have been sold, with prices ranging from $3.381 million ($3,569 psf) for a 947 sq ft unit on the 12th floor to $10.261 million ($3,036 psf) for a 3,380 sq ft unit on the fifth floor.
In the CBD, PGIM Real Estate launched its refurbished 12-storey freehold tower, 108 Robinson Road, for strata sales in early 2024. As of date, only the third floor is still available. The biggest deal so far was in May this year when Kwan Im Thong Hood Cho Temple purchased three floors totaling 14,252 sq ft for $55.8 million ($3,915 psf) according to caveats. In 2021, PGIM bought the building for $143 million and extensively renovated it before launching.
In March this year, a GuocoLand subsidiary bought the top three floors of 20 Collyer Quay for $91.8 million, setting a record for the largest strata office deal in the first half of 2025. At The Golden Mile on Beach Road, three office units of 904 to 1,292 sq ft were sold between March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats. The 99-year leasehold property from 2024 was part of the conserved Golden Mile Complex redevelopment by Far East Organization, Perennial Holdings, and Sino Land, and includes Aurea, a 45-storey residential tower with 188 units.
According to Huttons’ 1H2025 commercial report, the total value of strata office transactions increased to $700 million in the first half of 2025, a 60% rise from $437.3 million in the first half of 2024. “Declining interest rates have created a positive carry for investors and real estate funds, spurring renewed demand in the strata office market,” notes Chuah. In the first half of 2025, 189 strata office units were sold, a 22.7% increase from the previous year.