15 strata offices at Peninsula Plaza up for sale for $17.6m

Peninsula Plaza is a 30-storey mixed-use building comprising a 24-storey office block, a five-storey retail podium and a car park. It is nestled on a 999-year leasehold site, near the City Hall MRT Interchange Station.

Fifteen strata offices at Peninsula Plaza have been put up for sale, carrying an indicative price of $17.6 million or $2,255 per sq ft (psf), revealed marketing agent Cushman & Wakefield.

Located on the sixth floor, the office units – which can also be sold individually – have a combined strata area of around 7,804 sq ft, with the smallest available unit measuring 549 sq ft.

Peninsula Plaza is a 30-storey mixed-use building comprising a 24-storey office block, a five-storey retail podium and a car park. It is nestled on a 999-year leasehold site, near the City Hall MRT Interchange Station. Nearby amenities include Funan, Capitol Piazza and Raffles City.

“Strata offices in central locations are highly sought after since they are very limited in supply, especially those with 999-year leases such as Peninsula Plaza. Investors need not worry about a diminishing lease as Peninsula Plaza has a balance land tenure in excess of 809 years,” said Shaun Poh, executive director of capital markets at Cushman & Wakefield.

“In recent years, the rentals in the Central Business District (CBD) have also crossed double digits, prompting Small and Medium Enterprises to invest in office spaces around areas such as City Hall or Bugis to operate their businesses.”

The tender for the strata office units closes on 25 September.

Source: 22 Aug 2019, CommercialGuru