Springleaf Tower floor for sale at over $26m

The entire floor of office space 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 yesterday.

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

Completed in 2002, Springleaf Tower is in the 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 100m 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 air-conditioning which allows for independent floor operation.

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

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

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

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on July 07, 2020, with the headline 'Springleaf Tower floor for sale at over $26m'. Subscribe