Singapore, 11 October 2024 – EDMUND TIE, as the exclusive marketing agent, is launching for sale a portfolio of strata offices in Manhattan House located at 151 Chin Swee Road. The sale will be conducted by way of an expression of interest exercise; interested parties are invited to submit their offers by 12 November 2024 at 3pm.
The portfolio comprises 33 office units on the same floor with a total strata area of 1,816 sq m (approximately 19,547 sq ft), with unit size ranging from 323 sq ft to 850 sq ft.
Manhattan House is a 16-storey commercial building strategically located at the intersection of the Central Business District, Chinatown Historic District and Tiong Bahru neighbourhood, as well as within short walking distance to four MRT lines via two MRT interchanges – Chinatown and Outram Park. Manhattan House is also located adjacent to Pearl’s Hill City Park, which offers lush greenery and a tranquil setting. It is a short walk away to various lifestyle amenities such as eateries, food centres, department stores and other retail provisions within the matured Chinatown precinct.
The guide price for the portfolio is S$24.5 million, which works out to approximately S$1,250 per sq ft on the strata area. Interested parties have the flexibility to purchase individual units or acquire the entire portfolio. As commercial units, there is no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable and no restriction on foreign ownership.
Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Given URA’s announcement in 2022 on the restriction of strata subdivision of commercial developments, the pool of strata commercial units in the Central area has been limited. This portfolio presents a rare opportunity for investors to acquire prime strata commercial units that are well-located within close proximity to the CBD.
The units are ideal for end-users seeking to streamline operations or optimise space by consolidating into one central location for enhanced operational efficiency, as well as investors looking to capitalise on the limited supply of strata offices, with a mid-term view on potential capital upside from a collective sale. Given that the units are mostly tenanted, the incoming purchaser will also enjoy immediate rental cashflow.”
She adds, “With plans by the authorities underway to enhance Pearl’s Hill as an inclusive and community-centric neighbourhood, many more amenities will be offered to cater to diverse needs. In time to come, there will be a network of street-level and elevated connections which allows convenient access to key transport and amenity nodes.”
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