SINGAPORE, 24 June 2019 – Edmund Tie & Company (ET&Co), the sole marketing agent for a strata office floor at the 17-storey Sim Lim Tower, is pleased to offer the freehold commercial property for sale by tender.
Located on the 15th storey, the property spans across the entire floor and has a total strata area of approximately 778 square metres (sq m) or 8,374 square feet (sq ft). It offers a 360-degree panoramic view over the surrounding shophouses and the city skyline.
Sim Lim Tower enjoys an excellent location at the fringe of the city centre. It is conveniently located at the doorstep of Jalan Besar MRT station on the Downtown Line and within 600 metres to three other MRT stations – Rochor MRT station, Bugis MRT interchange and Little India MRT station, providing accessibiltiy to the Downtown, East West and North East Lines. Amenities are aplenty in the vicinity, including Albert Centre Market & Food Centre, banks, hotels, malls and the upcoming Tekka Place – a retail mall with 320 serviced residences.
The property stands to benefit from the ongoing rejuvenation and transformation of the Beach Road/Ophir-Rochor Corridor which is envisioned to be a vibrant mixed-use cluster. Such transformations can be exemplified with both new and upcoming developments such as DUO, South Beach, Guoco Midtown, Tekka Place and the new Shaw Tower.
Executive director of investment advisory Swee Shou Fern commented: “This offering of a freehold strata office floor presents an attractive and rare opportunity to buy into the rising office sector as well as its strategic city fringe location in the exciting Beach Road/Ophir-Rochor Corridor. Coupled with its freehold tenure and commanding views, we expect strong interest from both investors and end-users seeking assets with long-term investment value.”
As the property is zoned Commercial, it is not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) and is eligible for purchase by local and foreign buyers.
The asking price for the property is $15m, which reflects $1,791 per sq ft on the strata area.
The tender exercise will close on Tuesday, 23 July 2019 at 3pm.
ENDS For further information, please contact:
Vanessa Lim
Manager, Corporate Communications
+65 6393 2369
vanessa.lim@etcsea.com
About Edmund Tie & Company
Edmund Tie & Company (ET&Co) is a full-service, real estate consulting firm with more than 400 skilled professionals in the region. It is headquartered in Singapore and supported by offices in Kuala Lumpur, Malaysia, and Bangkok, Thailand. ET&Co offers a comprehensive suite of agency and professional services including investment advisory, business space and retail, residential agency, auction and sales, valuation advisory, statutory valuation and property tax advisory, research and consulting, property management, and hospitality management. For more information, please visit www.etcsea.com.