Springleaf Tower office floor up for sale with guide price of more than $26m

SINGAPORE (THE BUSINESS TIMES) – An entire office floor on level 22 of Springleaf Tower is up for sale via expression of interest with a guide price in excess of $26 million, sole marketing agent Savills Singapore said on Monday (July 6).

The renovated office floor has a strata area of about 10,527 square feet and will be sold on a vacant possession basis. It comes with exclusive use of the lift lobby, pantry and restrooms.

Springleaf Tower was completed in 2002. It is located in Singapore’s central business district (CBD), at the heart of the Tanjong Pagar submarket.

Savills said that it is one of the very few strata office developments which command Grade A specifications.

The property has around 100 metres of prominent road frontage along Anson Road, with direct underground, sheltered access to Tanjong Pagar MRT station.

Savills added that Springleaf Tower consistently has a high occupancy rate. The office floors are “always tightly held” by a very small number of owners, it noted.

Each office floor at the building comes with specifications such as a column-free layout, raised flooring, full-height windows, and variable refrigerant flow airconditioning which allows for independent floor operation.

Galven Tan, Savills Singapore deputy managing director of investment sales and capital markets, said: “Against the backdrop of tight strata office supply in the CBD, we believe that this offering is a good opportunity for both owner-occupier and investor to purchase a premium-grade strata office floor.”

He added that Tanjong Pagar is the CBD gateway to the planned Greater Southern Waterfront, one of the key focus areas of the Urban Redevelopment Authority in the coming years.

The expression of interest exercise will close on Aug 13 at 3pm.

Source: Read Full Article