Strata office units at The Plaza for sale at $7.44 mil

Located in the prime mixed-use development of The Plaza along Beach Road, a portfolio of ten adjoining office strata units is now open for sale via an expression of interest exercise. The units, located on the ninth level, have a combined gross floor area of 4,650 square feet and a guide price of $7.44 million, equating to $1,600 psf on the total strata area.

Michael Tay, the head of capital markets in Singapore at CBRE, expects strong interest in the units due to the strategic location of The Plaza. With walking distance to Bugis MRT Interchange Station and Nicoll Highway MRT Station, it is a desirable location for investors and owner-occupiers. The development is a 30-storey complex comprising offices, apartments, a hotel, serviced suites, and a retail podium.

Recent commercial resale transactions at The Plaza (Source: EdgeProp Research tool) have highlighted the attractiveness of the location, with the strong leasing performance of other buildings in the area such as Guoco Midtown. Tenants from sectors such as financial services, automobile, shipping, and The Myst chemical, have all set-up shop here. It is likely to further bolster the demand for office spaces.

Joshua Giam, CBRE’s associate director of capital markets, Singapore, believes this portfolio provides investors with the perfect opportunity to move on the transformation of the Beach Road and Bugis micro-market. He recommends considering the purchase before the expression of interest exercise closes on Apr 11 at 3pm.