Office Spaces For Sale Singapore

SECOND QUARTER Q2 2024
UPDATE ON SINGAPORE OFFICE MARKET

Office rents increased by 3.1% in Q2 2024, reversing the decline seen in Q1

Despite limited relocation activity, they have rebounded as tenants of high-quality buildings renew leases at higher rates.

Office rents in Singapore's central region rose by 3.12 percent in the second quarter of 2024, offsetting the previous quarter's 1.7 percent decline.

- Adapted from Business Times, 27 Jul 2024

  • Location

    • Iconic landmark in the Civic District
    • Sophia Road, within Central Area, District 9
    • Iconic landmark in the Civic District
    • Short walking distance to 4 MRT Stations
    • Few minutes drive to the Central Business District

  • One Sophia Design and Concept

    • Mixed-use development with office, retail and residence
    • Vision of a ‘magical carpet’ design element
    • 122 office space over 11 storeys for sale
    • Ideal size for most types of organisation from 721 sqft
    • Rare floor plate of 14,200 sqft
    • Prominent and impressive sheltered drop off lobby for commercial office building
    • Impressive and futuristic lobby
    • State-of-the-art biometric security system
    • Outdoor communal gardens at some levels
    • Individual Air-Conditioning on each floor

  • Tenure

    99 year leasehold

  • Prices

    In Singapore Dollars

    From S$3,5xxx,xxx - PSF from S$3,1xx

  • Sizes

    Individual units from From 1,119 sqft (103 sqm) to 4.533 sqft (423 sqm)

    Whole Floor around 14,200 sqft

  • Status

    Under-construction, estimated completion in 2029

  • Why One Sophia?

    • Convenient for employees and patrons
    • Ideal size for most types of organisations, small and large
    • New Launch, able to choose best units, able to buy adjoining units
    • Valuation match by banks

  • Location

    • In the heart of Central Business District, core city, a prime location
    • Close proximity to 3 MRT Stations: Tanjong Pagar MRT, Telok Ayer MRT and Shenton Way MRT
    • Well connected via Central Expressway (CTE), Marina Coastal Expressway (MCE) and East Coast Parkway (ECP)
    • Surrounded by an abundance of F&B and entertainment outlets

  • 108 Robinson Design and Concept

    • Freehold allowing for substantial capital appreciation (note freehold strata offices only make up 3.7% of Singapore total office stock)
    • Premium graded strata office floors for sale
    • Exquisite design with modern full glass facade
    • State-of-the-art sustainability features such as solar paneling, new air filtration systems
    • BCA Green Mark Platium
    • Large floor plate increasing flexibility, efficient use of space and able to command higher rental rates
    • Subdivision of commercial properties in central area is not allowed
    • This is one of the few premium office floors available for sale in the CBD
    • No restrictions to Foreigners

  • Tenure

    Freehold

  • Prices

    In Singapore Dollars

    From S$16,2xx,xxx - PSF from S$3,7xx

  • Sizes

    Whole Floor around 4,7xx sqft (44x sqm)

  • Status

    Completed, Able to view actual unit

  • Why 108 Robinson?

    • Freehold is rare
    • Great opportunity to own an office in the heart of Central Business District at the core city
    • Convenient for employees, clients and patrons
    • Many sustainability features
    • Distinctive with modern glass facade

  • Location

    • Prestigious and strategic location within Orchard
    • Short walking distance to 2 MRT Stations
    • 6-minute drive to the Central Business District
    • Located within the prestigious Istana Enclave
    • Benefits from Orchard Road Rejuvenation

  • VisionCrest Orchard Design and Concept

    • A Timeless Gem for a Lasting Legacy
    • Rare Freehold tenure
    • Even rarer for Grade A Office Buildings
    • LEED Gold certified by the US Green Building Council
    • Classic Full Glass Wall Curtain facade
    • Impressive and grand Lobby
    • Unmatched comfort with a Sheltered Car Drop-off Point
    • Technology-enabled building with Smart Office Automation
    • Access to VisionCrest Residential Condo facilities
    • Impressive 4.3m High floor-to-floor height
    • Individual Air-Conditioning on each floor
    • Sanitary and Pantry facilities on each floor
    • Spacious floor sizes ranging from 14,359 Sqft (1,334 sqm) to 14,844 Sqft (1,379 sqm)

  • Tenure

    Freehold

  • Prices

    In Singapore Dollars:

    Office Whole Floor: 

    From S$58,6xx,xxx

    PSF around S$4,XXX psf

  • Sizes

    Whole Floor around 14,359 sqft (1,344 sqm)

  • Status

    Completed, Able to view actual units

  • Why VisionCrest Orchard?

    • Rare timeless gem for lasting legacy
    • Possibly the only freehold grade A office floor that you can buy in Orchard
    • LEED Gold Certified
    • Able to benefit from Orchard Rejuvenation

  • Location

    • Highly prominent, standing tall and distinctive at the junction of Jalan Besar and Lavender Street.
    • A mere 5-minute walk to Bendemeer MRT Station on the Downtown Line.
    • Surrounded by ample choices of food and retail options, including some famous eateries

  • ARC 380 Design and Concept

    • A stunning 16-storey freehold commercial building located just minutes from the CBD.
    • Distinctive tower design featuring an impressive curtain wall finish and verdant cantilevered sky terraces on each floor.
    • This commercial development features premium office units, retail, and F&B spaces.
    • Features a grand entrance drop-off point.
    • Includes spacious sky terraces.
    • Amenities include a 25m swimming pool, function room, and gym on Level 17.
    • BBQ relaxation area and landscaped deck on Level 4.
    • Equipped with a high-tech building automation system.
    • Comprehensive security system with ample CCTV monitoring and lift access card system at the reception.
    • Office units offer panoramic views of the Central Business District.
    • Maximized daylight through full-height glass windows.
    • Quality low-emissivity double glazed curtain wall panels minimize heat and noise.
    • Expansive 4.9m floor-to-floor height, with column-free spaces.
    • Units include individual bathrooms.
    • Central chilled water air-conditioning system.
    • A/C ledge available for installing independent air-conditioning for use outside office hours.

  • Tenure

    Freehold

  • Prices

    In Singapore Dollars:

    S$2,2xx,xxx to S$12,0xx,xxx

    (around S$2,9xx PSF)

  • Sizes

    From 721 sqft (67 sqm) to 4,015 sqft (373 sqm)

  • Status

    Completed, Able to view actual units

  • Why ARC 380?

    • Grand Lobby with high ceiling
    • Grand entrance drop-off point
    • Large car park
    • Amenities include 25m pool, function room, gym, BBQ area
    • Comprehensive security system
    • Independent air-con system

  • Location

    • Prestigious location at Orchard with dual frontages, at Somerset Road and Devonshire Road
    • Somerset MRT Station, linking North-South Line is just across the road
    • A minute stroll to Orchard Road
    • Few minute drive to Central Business District

  • 111 Somerset Design and Concept

    • Only a handful supply of Premier Strata Office Spaces in Orchard available for sale
    • Integrated Development with offices, retail shops, F&B outlets, supermarket and medical suites
    • Many choices of food options and retail at level 1 and 2, including many popular ones
    • Easy access to major transport networks and expressways
    • Flexible layout choices
    • Ample car park lots at Basement 1 and 2
    • 24-hour CCTV surveillance system
    • Highly desirable location for MNCs, Financial Institutions and Regional Offices
    • Foreigners Are Eligible
    • Most units are tenanted which are great for Investors seeking immediate rental income

  • Tenure

    99 year leasehold

  • Prices

    In Singapore Dollars:

    from S$1,6xx,xxx - PSF from S$2,7xx

  • Sizes

    from 527 sqft (49 sqm) to 1,410 sqft (131 sqm)

  • Status

    Completed, Able to view actual units

  • Why 111 Somerset?

    • Dual frontages
    • Integrated with Retail Shops, F&B outlets, Supermarket and Medical Suites
    • Flexible layout choices
    • 24-hour CCTV surveillance system
    • Most units are tenanted

Office Rent Trend

Office rents reach a nearly 14-year high, exceeding the pre-pandemic peak.
- Corporates are regarding physical office space as a critical component in the work ecosystem, to build business values, enhance a sense of belonging and stimulate cross-team collaboration.

Increase in Prime Grade Office Rents

Prime Grade office rents in Raffles Place increased 1.4% quarter-on-quarter
Due to the low supply of new office inventory and increasing demand for office spaces in prime areas

Very Healthy Occupancy Rate

Occupancy is healthy at 95.4% for Raffles Place. CBD occupancy maintains at 93.8% during the third quarter.
Companies are bringing employees back to the office and are expanding headcount in the second half of 2022.

Stability of Singapore

With many geopolitical tensions, several service companies are relocating their headquarters to Singapore
Corporates prefer the stability of the city for business continuity

Singapore’s Attractiveness

Technological start-ups are attracted by Singapore’s sophisticated financial infrastructure and political stability

Need To Be Relevant

Ageing office buildings will have to consider redevelopment or asset enhancement to be relevant in the current market

Singapore High Employment Trend

Total employment in Singapore is 99.5% with retrenchments remaining low.
The financial sector indicated positive sentiments in hiring by 10%, quarter-to-quarter 2022.

Government Initiatives

The government announced a new grant to grow local talent for financial services.

Facing Future Challenges

Singapore remains attractive to multinational companies (MNCs) in addressing the coming economic challenges.

Future Trend

After 2023, there will be a limited new supply of prime office spaces. This rental will likely grow further after the global economic chaos dies down.

More Office Spaces for Sale But Cannot List Momentarily

We also have potential office spaces that are due to be confirmed and thus not able to reflect them here.

Do let us know your requirements and let us source for you.  Just let us have:

  • Size Range
  • Preferred Locations
  • Price Range
  • Date Required (if any)
  • Any Special Requirements

Seeking Owners Who Are Seeking Buyers 

Leverage on Buyers Seeking Office for Sale in Singapore via this page appearing on Goggle Search Top Pages.

Have a chat with us, if you are keen to list.  We look forward to be of service to you.

For Potential Buyers To Take Note

For those who are considering investing in office spaces, the following should be noted:

  1. While the cooling measures implemented in 5 July 2018 does not affect the commercial properties, the total debt servicing ration (TDSR) rules would have to be considered. This will have an impact on the level of financing that could be obtained from the financial institutions.
  2. Prices of office space have been rising since last year (2017) but net yields went down.
  3. The volume of strata office is not high currently. There were a total of 326 units sold from July 2017 to July 2018 in the Central Region Singapore. However, the growth rate was 90% in terms of psf.

Attracting Potential Tenants

For investors of office spaces, your potential tenants would want to get more details on:

  • Attraction of Location (Neighborhood? Convenient? Amenities?)
  • Accessibility (For Bus, MRT, Vehicle)
  • Type of Unit (Bare or Fitted)
  • Building Specifications (Floor Loading, Electrical Power, Car Parks, Air Con, Facilities, etc)
  • Rental and Service Charge (For Air-Con, Facilities)
  • Fitting Out, Rent Free Period (Typically 14 to 28 days)
  • Initial Deposit (Typically 1 month from tenant with specific requirements)
  • Security Deposit (Typically 1 month for every year)
  • Renovation (Typically, less than 28 days)
  • Reinstatement Requirements
  • GST Registration

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