High-Zone Strata Office in GB Building for sale via Expression of Interest

Clemence Lee, Executive Director of Capital Markets, Singapore at CBRE, says, “Strata offices continue to be an attractive asset class amongst astute investors and owner occupiers. Multiple full-floor transactions have been observed in the CBD at projects such as Solitaire @ Cecil (~$4,200psf), 108 Robinson ($3,775 – $3,900 psf), and Prudential Tower (~$3,300 psf). Strata offices make up only 15% of the total office stock in Singapore, with new supply expected to be limited given the restrictions on strata subdivision of existing and new commercial buildings within key areas in the CBD. As such, we expect strata offices such as GB Building’s that are well-located, priced at a palatable quantum, and command premium specifications, to draw keen interest from a wide range of buyers such as owner occupiers, corporate investors, family offices and high-net-worth individuals.”

Mr. Lee adds, “The Shenton Way / Tanjong Pagar submarket maintains its position as one of Singapore’s key commercial districts and destination of choice for established global financial and technology MNCs. Occupancy levels remain strong and healthy above 95%, and the precinct continues to experience new waves of rejuvenation with an extensive list of upcoming new developments in the pipeline such as Keppel South Central, One Bernam, TMW Maxwell, Solitaire on Cecil, The Skywaters, Newport Tower, and the Shenton House redevelopment. The completion of these projects will instill new vibrancy and dynamism in the sub-market and reinforce its attractiveness for local and global occupiers, enabling asset owners within the area to enjoy potential rental and capital appreciation over the mid to long term horizon.”

GB Building enjoys unrivalled connectivity, with fully sheltered access to Tanjong Pagar MRT Station. Telok Ayer and Shenton Way MRT Stations are also both a short 5-minute walk away. It is also enveloped by a myriad of F&B offerings and service amenities at Tanjong Pagar Xchange, Amoy Street Food Centre, Lau Pa Sat, and Tanjong Pagar Conservation Area. The nearby Central Expressway (CTE) and Ayer-Rajah Expressway (AYE) and Marina Coastal Expressway (MCE) also make it highly accessible to other parts of Singapore.