Strata Office Unit Prudential Tower Sale 16 Mil

A strata office unit located at Prudential Tower, a prestigious Grade-A office building situated on Cecil Street in Singapore’s prime financial district of Raffles Place, is currently on the market. The 5,015 square foot unit is being marketed by Savills Singapore, with an asking price of $16 million, equivalent to $3,190 per square foot.The unit features an open and spacious layout, boasting unobstructed views of the nearby conservation shophouses. It is currently fully occupied by various multinational corporations, according to Savills Singapore. However, the unit is also available for sale with vacant possession.Prudential Tower, located at the intersection of Cecil Street and Church Street, is a 30-storey office building that was completed in 1998. This 99-year leasehold commercial property, which has 71 years remaining on its tenure, offers easy access to both the Raffles Place MRT Interchange Station (serving the North-South and East-West Lines) and the Telok Ayer MRT Station (serving the Downtown Line).Find out more properties for sale near Raffles Place MRT StationHere’s a detailed map of properties around Raffles Place MRT Station.Yal Hui Yee, the executive director responsible for investment sales and capital markets at Savills Singapore, highlights that this property is an excellent value proposition at $3,190 per square foot, particularly when compared with freehold strata office units that have been sold for over $4,000 per square foot in the recent past.For instance, earlier this year, a 3,595 square foot strata unit with a 999-year leasehold at Samsung Hub on Church Street sold for $14.8 million, translating to a rate of $4,117 per square foot. In a separate transaction, a freehold strata office floor at Tong Building, a prominent office building located on Orchard Road, also achieved a record-breaking sale price of $4,562 per square foot.Based on records from the Urban Redevelopment Authority’s Realis database, the most recent transaction at Prudential Tower involved a 5,715 square foot unit that sold for $26.5 million (equivalent to $4,636 per square foot) on 15 August, setting a new record for the highest per square foot price achieved at the development. Prior to that, the previous record was set in August 2022, when a 1,399 square foot unit sold for $4.76 million, equivalent to $3,402 per square foot.Source: EdgeProp Buddy Check out the latest listings for Commercial Real Estate propertiesAsk BuddyCompare price trend of Commercial vs Industrial propertiesPast Commercial rental transactionsCompare price trend of Commercial vs Industrial propertiesPast Commercial rental transactionsRELATED NEWSOver 41% of strata office units released at 20 Cecil Street sold at an average price of $3,090 psfLian Beng-led group offloads 79,500 sq ft office space at Prudential Tower Prudential Tower strata unit up for sale from $2,800 psf

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