With a total floor area of 1,969 sq ft, ranging from 624 sq ft to 678 sq ft, three adjacent strata office units at SBF Centre in the Central Business District are on the market via expression of interest (EOI) with a guide price of $3,600 psf. The sale of the units, located on the 13th floor of the 99-year leasehold building, is expected to draw interest from not only those seeking their own space in the CBD, but also investors seeking stable rental returns.

Former JCube, situated in the Jurong Lake District (JLD), is set to be redeveloped into a condominium. According to CLD, the new JCube Condo Residence will feature beautifully designed apartment units, lush greenery and landscaped gardens. Its facilities and amenities include an infinity pool, gym, tennis court, children’s playground, and a variety of other recreational activities. The redevelopment will bring about improved lifestyle possibilities for its residents as well as the surrounding community.

According to Knight Frank Singapore’s Executive Director of Capital Markets, Mary Sai, this asset is ideal due to increasing interest rates and an uncertain global economic outlook coupled with recent cooling measures targeting residential properties, open borders across the Asia-Pacific region, and restrictions on the subdivision of newer commercial buildings in the CBD area.

The building, which features contemporary office spaces, a dedicated medical centre, a roof garden, and a pool, is situated 200m from Tanjong Pagar MRT Station. Additionally, it has great road connectivity with North Bridge Road, Robinson Road, and the Keppel Viaduct. Nearby commercial transactions around SBF Centre are easily found on EdgeProp’s Landlens tool.

54 strata office units worth $126.4 million were sold in Singapore in 1Q2023, a 15.7% y-o-y increase from $150 million achieved in 1Q2022. This proves that demand for strata office units remain strong within the Central Business District.

The marketing agent, Knight Frank, states that the units range from $2.25 million to $2.44 million, which works out to an approximate average price of $3,600 psf. Meanwhile, its data also shows that other hotels, offices, and retail developments are found nearby Tanjong Pagar, Telok Ayer, and Duxton Hill.

Eager buyers should take note that the EOI for the sale closes on June 27. For those interested in purchasing these units, it is the perfect opportunity to have their own space or garner stable rental returns with the pricing in this high-interest rate environment.