6 adjoining strata offices in International Plaza on sale at S$11.97m guide price
A collection of six refurbished adjoining strata office units at International Plaza in Singapore’s central business district is up for sale with a guide price of S$11.97 million.
They are available on a sale and leaseback scheme with immediate annual gross rental yield of 4.2 per cent for at least five years, Colliers International said in a statement on Friday (15 February).
The price works out to S$1,850 per square foot (psf) based on floor area. The average price achieved for 13 office space transactions at International Plaza over the last six months is S$1,895 psf, Colliers said.
The six strata offices have a combined floor area of approximately 6,469 sq ft and a 99-year leasehold tenure in effect since 1970. Due to the property’s commercial-use zoning, foreigners are eligible to purchase the office units. Additional buyer’s stamp duty and seller’s stamp duty are also not applicable, Colliers said.
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