Commercial & Industrial Properties Singapore
Sales & Rental of Commercial and Industrial Properties
(65) 6100 8123
Office Spaces For Sale Singapore 1. At Core CBD (Cecil Street) 2. Orchard (Somerset)3. Freehold at Eunos
THIRD QUARTER Q3 2022UPDATE ON SINGAPORE OFFICE MARKET
"Consultants: Landlord's Market Extending to 2023;
Third Quarter 2022 Rental Near 14-Year High”
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.
- 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
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Prices
In Singapore Dollars:
Individual Units:
From S$2,4XX,XXX PSF from S$2,9XX
Full Floor at High Floor:
From S$36,XXX,XXX PSF from S$3,1XX
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Sizes
From 786 sqft (73 sqm) to 3,617 sqft (336 sqm)
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Location
20 Cecil Street
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Completion (or TOP)
Completed Already
- 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
Medical Suites From S$2,8XX,XXX; psf from $4,3XX
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Sizes
Office Spaces From 527 sqft (49 sqm) to 1,410 sqft (131 sqm)
Medical Suites from 635 sqft (59 sqm) to 2,066 sqft (192 sqm)
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Location
Orchard / Somerset
-
Completion (or TOP)
Completed Already
- FREEHOLD
- Facing Changi Road and Parc Esta Condo
- Scarcity of Lower Price Commercial and Office Space
- Near Paya Lebar Commercial Hub
- 7- 8 minute walk to Eunos MRT Station
- Several car parks around the area
- Sizes are conducive and easily manageable
- Short drive to Marina Bay / Orchard Road
- Easy accessibility to major expressways, PIE, ECP,
- Affordable Investment Quantum
- No Additional Buyer Stamp Duty
- No Seller Stamp Duty
- Ability to offload as and when needed
- Great for investment
- Foreigners are welcome
-
Prices
Offices From S$1,7XX,XXX; psf from S$2,1XX
Retail Shops From S$1,5XX,XXX; psf from $3,3XX
F&B Shops From S$2,8XX,XXX; psf from S$3.9XX
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Sizes
Office Spaces From 840 sqft (78 sqm)
Retail Shops from 463 sqft (43 sqm)
F&B Shops from 710 to 1,529 sqft (66 to 142 sqm)
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Location
Changi Road / Eunos / Opposite Parc Esta Condo
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Completion (or TOP)
Completed Already
Wood Square at Woodlands
- Gateway to the North
- Work free with WIFI connectivity
- Where people and nature interact seamlessly, with Green Terraces, Landscaped Corridors
- Facilities include: Meeting Room, Training Room, Boardroom, Auditorium
- Nearby many useful amenities, such as banks, CPF, Singapore Post
- Many choices of F&B amenities
- No Additional Buyer Stamp Duty
- No Seller Stamp Duty
- Foreigners are welcome
-
Prices
Offices From S$1,6XX,XXX; psf from S$2,0XX
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Sizes
Office Spaces From 753 to 1,561 sqft (70 to 145 sqm)
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Location
Woodlands Square
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Completion (or TOP)
Completed Already
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
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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
