Singapore, 4 July 2018 - CBRE is pleased to present a row of 12 adjoining premium office units at Paya Lebar Square for sale via a Public Tender. The units on the 8th floor have a combined floor area of approximately 8,503 square feet and are conveniently located next to the lift lobby.
Completed in 2015, Paya Lebar Square is a 13-storey mixed development comprising an office block from the 5th to 13th storey and a retail podium from basement 1 to 2nd storey. The retail podium comprises a vibrant tenant mix including banks, cafes, a food court, a supermarket and other retail offerings. The mixed development has been certified Green Mark Gold Plus by the Building and Construction Authority.
Paya Lebar Square is strategically situated next to the Paya Lebar MRT Interchange station (EW8/CC9) which offers seamless connectivity via the East-West and Circle Lines. It is a mere six stops to Raffles Place and a short 10-minute drive into the CBD. The development is also easily accessible via various expressways such as Pan Island Expressway (PIE), East Coast Parkway (ECP) and Kallang Paya Lebar Expressway (KPE). Changi Airport is a 15-minute drive away.
The entire precinct is undergoing major transformation with Paya Lebar Square, SingPost Centre and the upcoming Paya Lebar Quarter collectively forming one of the largest suburban commercial hubs serving the eastern region of Singapore. Its prominent location will continue to leverage strongly on the hive of bustling activities in the vicinity. In addition, the convenience of this location has attracted many well-known corporates to set up their headquarter operations in Paya Lebar Square and this has since earned itself the reputation of being the commercial centre in the east.
Sammi Lim, Director, Capital Markets, CBRE said, “The key selling point is definitely the rarity of such a sizeable, contiguous floor area available for sale in Paya Lebar Square. We believe these units will appeal strongly to investors who wish to own a portfolio of commercial units with a steady rental income as the units are fully tenanted. Investors will also have the option to divest the units on an individual basis in future. As the units are zoned under commercial, both local and foreigners are eligible to purchase them without additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the units.”
Ms Lim added, “We have observed that occupiers are extremely pleased with the development’s convenient location, its linkage to amenities within the development and especially, the direct connectivity to Paya Lebar MRT Interchange Station.
We expect the premium units to garner keen interest from both investors and owner-occupiers. They are likely to attract private equity firms, family offices, corporates and high net-worth individuals, both local and overseas, who are seeking quality and strong yielding assets, with a mid- to long-term view of potential rental and capital appreciation in a high-growth location like Paya Lebar, against the backdrop of a stronger commercial and strata market scene.”
CBRE is the sole marketing agent for this Public Tender Exercise. The tender closes on 3 August 2018, Friday at 3 pm.
Follow us on Twitter: @cbresingapore
And on LinkedIn: company/cbre-asia-pacific
Disclaimer:
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.