This article was published on 24 June 2019.

A FREEHOLD strata office floor at Sim Lim Tower in Jalan Besar has been put up for sale by tender with an asking price of S$15 million, marketing agent Edmund Tie & Company (ET&Co) said on Monday.

Located on the 15th storey of the 17-storey building, the property spans the entire floor and has a total area of about 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, ET&Co said.

The asking price of S$15 million works out to about S$1,791 per sq ft on the strata area.

Amenities in the area include the Albert Centre Market & Food Centre, banks, hotels, malls and the upcoming Tekka Place – a retail mall with 320 serviced residences.

Sim Lim Tower is located at the fringe of the city centre, near Jalan Besar MRT station on the Downtown Line, and within 600 metres to three other MRT stations – Rochor, Bugis and Little India – providing accessibility to the Downtown, East West and North East Lines.

ET&Co also noted that the property stands to benefit from the ongoing rejuvenation and transformation of the Beach Road/Ophir-Rochor Corridor, 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,” ET&Co said.

Added Swee Shou Fern, executive director of investment advisory at ET&Co: “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 or seller’s stamp duty, and is eligible for purchase by both local and foreign buyers.

The tender exercise will close at 3pm on July 23.

https://www.businesstimes.com.sg/real-estate/office-floor-at-sim-lim-tower-up-for-sale-with-s15m-asking-price