Strata office units at Southpoint sold for $32.68 million
Savills Singapore has achieved a record-breaking price per square foot for the sale of office units at Southpoint, an office building located at 200 Cantonment Road. Executive Director, Investment Sales Senja Close EC & Capital Markets at Savills Singapore, Yap Hui Yee brokered the deal which saw 10,893 sq ft of strata office units sold for $32.68 million, equating to a price per square foot of $3,000.
This marks the highest psf prices transacted at Southpoint, and Yap comments that it is “a strong testament that with Savills’ unparalleled local market knowledge, we are able to advise our clients to achieve the highest price and best exit strategy for their acquisition”.
Situated near the up-and-coming Greater Southern Waterfront precinct in District 2, Southpoint is a 16-storey office freehold commercial building. It is within walking distance of the Tanjong Pagar and Outram MRT Stations, as well as being close to the soon to be inaugurated Cantonment MRT Station.
The most recent transaction to take place at Southpoint prior to this one was in December 2022 and saw a strata office unit on the 12th floor sold for $43 million ($2,681 psf) (Source: EdgeProp Research).
It is clear with this sale that Savills Singapore have been able to provide excellent advice and assistance to their clients, setting records for the sale of commercial units. The location of Southpoint provides further reasons for the high price per square foot, with its close proximity to both current and upcoming public transport links being an attractive prospect for potential buyers.
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