Office Spaces For Sale Singapore

Information Updated As of 11 June 2024

FIRST QUARTER Q1 2024
UPDATE ON SINGAPORE OFFICE MARKET

Sales of office spaces slowed down in Q1 2024, following a strong finish in 2023.

Office rentals and capital values are likely to remain stable in the near term, with potential increases in the second half of 2024, considering the economy is expected to grow between 1% and 3%.

  • Rare Offering - Opportunity to acquire full Grade A office units or floors at Raffles Place
  • Premier Location - at 20 Cecil Street, with dual frontage on Church Street and Cecil Street
  • Grade A Specifications - Grand Lobby with 2-storey ceiling, impressive foyer, car park, large office floor plates
  • Flexible Layout Choices for full floor - Option to subdivide (10 strata titles per floor)
  • Independent air-conditioning system facilitates flexible operating hours
  • 2 minute walk from Raffles Place MRT Station
  • Easy access to major transport networks and expressways
  • Few minute drive to Orchard
  • Advanced security system
  • 24-hour CCTV surveillance system
  • Highly desirable location for MNCs, Financial Institutions and Regional Offices
  • Foreigners Are Eligible
  • Low transaction costs - No Additional Buyer's Stamp Duty and no Seller's Stamp Duty
  • Ideal for Investors and owner-occupiers - Invest in strong and stable office market in Singapore with positive growth prospects
  • Prices

    In Singapore Dollars:

    Combined and Individual Units: 

    From S$2,4XX,XXX, PSF from S$3,0XX

    Full Floor:

    From S$33,XXX,XXX PSF from S$3,2XX

  • Sizes

    Combined and Individual Units

    From 786 sqft (73 sqm) to 2,422 sqft (225 sqm)

    Full Floor

    From 10,559 (981 sqm) to 11,216 sqft (1,042 sqm)

  • Location

    20 Cecil Street

  • Completion (or TOP)

    Completed Already

FREEHOLD

ARC 380
Updated as of 11 June 2024

  • Ownership: Freehold
  • A stunning 16-storey freehold commercial building located just minutes from the CBD.
  • Highly prominent, standing tall and distinctive at the junction of Jalan Besar and Lavender Street.
  • 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.
  • A mere 5-minute walk to Bendemeer MRT Station on the Downtown Line.
  • 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.
  • No Seller Stamp Duty (SSD)
  • No Additional Buyer Stamp Duty (ABSD)
  • Foreigners Are Eligible
  • Prices

    In Singapore Dollars:

    S$2.4x m to $12.8x m

    (around $2,9xx PSF)

  • Sizes

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

  • Location

    Jalan Besar

  • Completion (or Estimated TOP)

    Completed

  • Only a handful supply of Premier Strata Office Spaces in Orchard available for sale
  • Prestigious location at Orchard with dual frontages
  • Integrated Development with offices, retail shops, F&B outlets and medical suites
  • Somerset MRT Station, linking North-South Line is just across the road
  • Easy access to major transport networks and expressways
  • Few minute drive to Central Business District
  • Flexible layout choices
  • 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 seekjing immediate rental income
  • Prices

    Offices From S$1,6XX,XXX; psf from S$2,7XX

  • Sizes

    Office Spaces From 527 sqft (49 sqm) to 1,410 sqft (131 sqm)

  • Location

    Orchard / Somerset

  • Completion (or TOP)

    Completed Already

  • A Timeless Jewel for a Lasting Legacy
  • Rare freehold tenure
  • Rarer for Grade A Office Buildings
  • Strategic and Prestigious location within Central Business District (CBD)
  • Conveniently short walking distance to 5 MRT Stations
  • Design to achieve BCA Green Mark Platinum
  • Timeless Full glass wall curtain facade
  • Grand and impressive triple storey lobby
  • Unrivalled comfort with sheltered car drop-off point
  • Technology enabled building with Smart Integrations
  • Magnificent High 4.9 m floor-to-floor height
  • Catering to Individual air-conditioner on each floor
  • Provision of sanitary and pantry for each floor
  • Spacious floor sizes of 12,465 Sqft to 13,132 Sqft
  • No Seller Stamp Duty (SSD)
  • No Additional Buyer Stamp Duty (ABSD)
  • Foreigners Are Eligible
  • Prices

    In Singapore Dollars:

    Office Whole Floor: 

    FULLY SOLD

  • Sizes

    From 12,465 sqft (1,158 sqm)

  • Location

    Cecil Street

  • Completion (or Estimated TOP)

    Estimated Completion or TOP in 2028

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

You Are Most Welcome To

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Please do not hesitate to contact us for a discussion, more information or an exclusive presentation or let us know we could be of further service to you.

 

We always look forward to be of great service to you.

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