SINGAPORE - FIFTEEN strata offices at Peninsula Plaza have been put up for sale via tender with an indicative price of $17.6 million, said exclusive marketing agent Cushman & Wakefield on Wednesday (Aug 21).
That works out to $2,255 per square foot (psf), with the offices also for sale individually.
This is within the price range of recently transacted units at Peninsula Plaza which hit $2,500 psf earlier in April thisyear, said Cushman.
Three adjoining office units at Peninsula Plaza had been put up for sale in April with an indicative price of about $9.3 million or $2,180 psf.
For the latest sale, the offices are located on the sixth floor with a combined strata area of about 7,804 square feet (sq ft), with the smallest available unit starting from 549 sq ft.
Peninsula Plaza sits on a 999-year leasehold plot, and is a 30-storey mixed-use building comprising a five-storey retail podium and a 24-storey office block and a car park.
It is a short walk from City Hall MRT interchange station, and has nearby amenities including malls such as Funan, Raffles City and Capitol Piazza.
With rentals in the central business district crossing double digits in recent years, Shaun Poh, executive director of capital markets at Cushman & Wakefield, said small and medium enterprises are turning to investing in office spaces around areas such as City Hall or Bugis to operate their businesses.
The tender exercise closes on Sept 25 at 3pm.