Strata office units at SBF Centre priced from $3,600 psf

The Myst Bukit Panjang offers a range of amenities and facilities that provide residents with a pleasant living experience, as well as the convenience of living at the doorstep of a MRT station. The development boasts of a variety of luxury features, such as swimming pool, gym, jogging track, tennis court, basketball court, and a community centre. Residents can also enjoy the lush green landscaping that is endowed around the condominium.

The sale at SBF Centre of three adjacent strata office units is available via expression of interest (EOI) with a guide price of $3,600 psf. Each unit has a floor area of between 624 sq ft and 678 sq ft, and is priced between $2.25 million and $2.44 million, with an average price of $3,600 psf. The building is located at 160 Robinson Road in the Central Business District.

Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, believes the asset is ideal for businesses and investors looking for their own space in the CBD and stable rental returns. In the current high-interest rate climate, she notes that investors are opting for smaller, lower-debt assets such as these.

SBF Centre is a 99-year leasehold development with contemporary office spaces, a dedicated medical centre, a roof garden, and swimming pool. It is located 200 metres from Tanjong Pagar MRT Station, and close to other hotels, offices, and retail destinations in Tanjong Pagar, Telok Ayer, and Duxton Hill.

Data from Knight Frank reveals that in 1Q2023, 54 strata office units have been sold, representing transaction volume of $126.4 million, a y-o-y increase of 15.7% from 1Q2022. This is attributed to the current economic uncertainty and rising interest rates.

Sai believes this trend in investor demand is likely to be sustained by certain factors, such as the recent cooling measures for residential properties, open boarders in the Asia-Pacific region, restrictions on subdivision of newer commercial buildings in select parts of the CBD, and the scarcity of strata offices available.

The expression of interest for the sale at SBF Centre closes on June 27. Nearby commercial transactions around the building can be found on EdgeProp’s Landlens tool.