Commercial & Industrial Properties Singapore - Sales & Rental
(65) 6100 8123
Office Spaces For Sale Singapore
Information Updated As of 10 November 2023
FIRST QUARTER Q1 2023UPDATE ON SINGAPORE OFFICE MARKET
"Rentals continue to post growth in Q1, supported by tight office supply”
- Rare Offering - Opportunity to acquire full Grade A office units or floors at Raffles Place
- Premier Location - at 20 Cecil Street, with dual frontage on Church Street and Cecil Street
- Grade A Specifications - Grand Lobby with 2-storey ceiling, impressive foyer, car park, large office floor plates
- Flexible Layout Choices for full floor - Option to subdivide (10 strata titles per floor)
- Independent air-conditioning system facilitates flexible operating hours
- 2 minute walk from Raffles Place MRT Station
- Easy access to major transport networks and expressways
- Few minute drive to Orchard
- Advanced security system
- 24-hour CCTV surveillance system
- Highly desirable location for MNCs, Financial Institutions and Regional Offices
- Foreigners Are Eligible
- Low transaction costs - No Additional Buyer's Stamp Duty and no Seller's Stamp Duty
- Ideal for Investors and owner-occupiers - Invest in strong and stable office market in Singapore with positive growth prospects
-
Prices
In Singapore Dollars:
Individual Units:
From S$2,4XX,XXX, PSF from S$3,0XX
Full Floor:
From S$33,XXX,XXX PSF from S$3,2XX
-
Sizes
From 786 sqft (73 sqm) to 11,216 sqft (1,042 sqm)
-
Location
20 Cecil Street
-
Completion (or TOP)
Completed Already
- A Timeless Jewel for a Lasting Legacy
- Rare freehold tenure
- Rarer for Grade A Office Buildings
- Strategic and Prestigious location within Central Business District (CBD)
- Conveniently short walking distance to 5 MRT Stations
- Design to achieve BCA Green Mark Platinum
- Timeless Full glass wall curtain facade
- Grand and impressive triple storey lobby
- Unrivalled comfort with sheltered car drop-off point
- Technology enabled building with Smart Integrations
- Magnificent High 4.9 m floor-to-floor height
- Catering to Individual air-conditioner on each floor
- Provision of sanitary and pantry for each floor
- Spacious floor sizes of 12,465 Sqft to 13,132 Sqft
- No Seller Stamp Duty (SSD)
- No Additional Buyer Stamp Duty (ABSD)
- Foreigners Are Eligible
-
Prices
In Singapore Dollars:
Office Whole Floor:
From S$52 million
-
Sizes
From 12,465 sqft (1,158 sqm)
-
Location
Cecil Street
-
Completion (or Estimated TOP)
Estimated Completion or TOP in 2028
- Only a handful supply of Premier Strata Office Spaces in Orchard available for sale
- Prestigious location at Orchard with dual frontages
- Integrated Development with offices, retail shops, F&B outlets and medical suites
- Somerset MRT Station, linking North-South Line is just across the road
- Easy access to major transport networks and expressways
- Few minute drive to Central Business District
- Flexible layout choices
- 24-hour CCTV surveillance system
- Highly desirable location for MNCs, Financial Institutions and Regional Offices
- Foreigners Are Eligible
- Most units are tenanted which are great for Investors seekjing immediate rental income
-
Prices
Offices From S$1,6XX,XXX; psf from S$2,7XX
-
Sizes
Office Spaces From 527 sqft (49 sqm) to 1,410 sqft (131 sqm)
-
Location
Orchard / Somerset
-
Completion (or TOP)
Completed Already
Office Rent Trend
Office rents reach a nearly 14-year high, exceeding the pre-pandemic peak.
- Corporates are regarding physical office space as a critical component in the work ecosystem, to build business values, enhance a sense of belonging and stimulate cross-team collaboration.
Increase in Prime Grade Office Rents
Prime Grade office rents in Raffles Place increased 1.4% quarter-on-quarter
Due to the low supply of new office inventory and increasing demand for office spaces in prime areas
Very Healthy Occupancy Rate
Occupancy is healthy at 95.4% for Raffles Place. CBD occupancy maintains at 93.8% during the third quarter.
Companies are bringing employees back to the office and are expanding headcount in the second half of 2022.
Stability of Singapore
With many geopolitical tensions, several service companies are relocating their headquarters to Singapore
Corporates prefer the stability of the city for business continuity
Singapore’s Attractiveness
Technological start-ups are attracted by Singapore’s sophisticated financial infrastructure and political stability
Need To Be Relevant
Ageing office buildings will have to consider redevelopment or asset enhancement to be relevant in the current market
Singapore High Employment Trend
Total employment in Singapore is 99.5% with retrenchments remaining low.
The financial sector indicated positive sentiments in hiring by 10%, quarter-to-quarter 2022.
Government Initiatives
The government announced a new grant to grow local talent for financial services.
Facing Future Challenges
Singapore remains attractive to multinational companies (MNCs) in addressing the coming economic challenges.
Future Trend
After 2023, there will be a limited new supply of prime office spaces. This rental will likely grow further after the global economic chaos dies down.
More Office Spaces for Sale But Cannot List Momentarily
We also have potential office spaces that are due to be confirmed and thus not able to reflect them here.
Do let us know your requirements and let us source for you. Just let us have:
- Size Range
- Preferred Locations
- Price Range
- Date Required (if any)
- Any Special Requirements
Seeking Owners Who Are Seeking Buyers
Leverage on Buyers Seeking Office for Sale in Singapore via this page appearing on Goggle Search Top Pages.
Have a chat with us, if you are keen to list. We look forward to be of service to you.
For Potential Buyers To Take Note
For those who are considering investing in office spaces, the following should be noted:
- While the cooling measures implemented in 5 July 2018 does not affect the commercial properties, the total debt servicing ration (TDSR) rules would have to be considered. This will have an impact on the level of financing that could be obtained from the financial institutions.
- Prices of office space have been rising since last year (2017) but net yields went down.
- The volume of strata office is not high currently. There were a total of 326 units sold from July 2017 to July 2018 in the Central Region Singapore. However, the growth rate was 90% in terms of psf.
Attracting Potential Tenants
For investors of office spaces, your potential tenants would want to get more details on:
- Attraction of Location (Neighborhood? Convenient? Amenities?)
- Accessibility (For Bus, MRT, Vehicle)
- Type of Unit (Bare or Fitted)
- Building Specifications (Floor Loading, Electrical Power, Car Parks, Air Con, Facilities, etc)
- Rental and Service Charge (For Air-Con, Facilities)
- Fitting Out, Rent Free Period (Typically 14 to 28 days)
- Initial Deposit (Typically 1 month from tenant with specific requirements)
- Security Deposit (Typically 1 month for every year)
- Renovation (Typically, less than 28 days)
- Reinstatement Requirements
- GST Registration
Have a Chat With Us
CosySingapore Consultants
Commercial Properties Singapore
8.00 am to 10.00 pm
Hotline: +65 6100 8123
Email: CosySingapore@gmail.com
Scan this code for Whatsapp
