Entire 15th floor of Sim Lim Tower up for sale for $15m

The freehold property spans the entire floor and has a total area of around 778 sq m or 8,374 sq ft, and boasts a 360-degree view of the surrounding shophouses and the city skyline.

A strata office floor at Sim Lim Tower has been put up for sale by tender with an asking price of $15 million or $1,791 per sq ft based on its strata area, revealed marketing agent Edmund Tie & Company (ET&Co).

Situated on the 15th storey, the freehold property spans the entire floor and has a total area of around 778 sq m or 8,374 sq ft. It boasts a 360-degree view of the surrounding shophouses and the city skyline.

The 17-storey Sim Lim Tower is located at the fringe of the city centre, right at the doorstep of Jalan Besar MRT station on the Downtown Line. It is also within 600 metres to three other MRT stations – Bugis MRT interchange, Rochor MRT station and Little India MRT station, offering accessibility to the East West, North East and Downtown Lines.

Amenities within the vicinity include Albert Centre Market & Food Centre, hotels, banks, malls as well as the upcoming Tekka Place – a retail mall that features 320 serviced residences.

The property is set to benefit from the ongoing transformation and rejuvenation of the Beach Road/Ophir-Rochor Corridor “which is envisioned to be a vibrant mixed-use cluster”.

“Such transformations can be exemplified with both new and upcoming developments such as DUO, South Beach, Guoco Midtown, Tekka Place and the new Shaw Tower,” noted the marketing agent.

ET&Co executive director of investment advisory Swee Shou Fern expects the freehold property to attract strong interest from both investors and end-users on the look-out for assets with long-term investment value.

“This offering of a freehold strata office floor presents an attractive and rare opportunity to buy into the rising office sector as well as its strategic city fringe location in the exciting Beach Road/Ophir-Rochor Corridor,” she said.

Since the property is zoned for commercial use, both local and foreign buyers are eligible to acquire it with no additional buyer’s stamp duty or seller’s stamp duty payable.

 The tender for the property closes on 23 July.

Source: 25 Jun 2019, CommercialGuru