Singapore, 22 May 2025 – ETC, as the sole marketing agent, is pleased to launch for sale a strata office floor in Tung Ann Association Building, an 11-storey office building located along Cecil Street. The sale will be conducted via a tender exercise which will close on Thursday, 19 June 2025, 3pm.
The property is on the fifth floor and has a strata area of 403 sq m (approximately 4,338 sq ft). It benefits from abundant natural light from three sides of its floor plate, creating a bright work environment.
The guide price is S$11.5 million, which works out to S$2,651 per sq ft on the strata area. Open to both local and foreign buyers, the property is not subject to Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at ETC, says, “Strata office supply in the Central Area has been significantly constrained since URA’s restriction on strata subdivision in commercial and mixed-use developments in March 2022. Freehold full-floor strata offices in the CBD remain tightly held and are rarely available for purchase.”
Office units in Tung Ann Association Building are very tightly held. In the last thirty years, Tung Ann Association Building recorded only one transaction in 2010 for a strata floor at S$1,268 per sq ft. Tong Eng Building along Cecil Street, which was built at the same time as Tung Ann Association Building, has been transacting between S$2,701 and S$3,349 psf in the past 12 months.
She adds, “Freehold strata offices are highly sought after by corporate investors, family offices, and high-net-worth individuals looking to preserve and grow capital in Singapore’s resilient real estate market. Owner-occupiers looking to establish a strategic foothold in the CBD may find such freehold assets attractive, as they also offer an opportunity to centralise operations by consolidating into one central location for space efficiency.”
Recent market activity for strata offices of freehold or 999-year tenure along Cecil Street and Robinson Road have reflected resilience. For instance, a 1,259-sq-ft office at Oxley Tower was transacted at S$2,660 per sq ft in February 2025, while a 2,562- sq-ft office in Samsung Hub was transacted at S$4,316 per sq ft in April 2025.
Strategically located at the prominent corner of Cecil Street and McCallum Street, Tung Ann Association Building enjoys exceptional visibility and is a short walking distance to Tanjong Pagar MRT station, Shenton Way MRT station and Telok Ayer MRT station. The 11-storey office building is also a short walk away to various eateries and food centres within the vicinity.
END
