Freehold strata office floor near Paya Lebar for sale at $21.6 mil
By Michael Lim
/ The Edge Property |
A freehold strata office floor on the top level of Hexacube (below), a five-storey commercial development near Paya Lebar, has been put up for sale by expression of interest. According to JLL, the exclusive marketing agent, the guide price for the property is $21.6 million, or about $1,700 psf on the existing strata area.
Hexacube, which is located on Changi Road, was used by AIA Singapore as part of its agency operations. The old building was acquired from AIA Singapore by Wealth Development in March 2013 for $68 million and it has since been completely redeveloped. Hexacube obtained its Temporary Occupation Permit last month.
The development has strata-titled shops and restaurants on Basement One up to Level Two, and offices on levels three to five. The subject property has a total strata office area of 12,712 sq ft. It com- prises double-volume office space on Level Five and the mezzanine floor. It is being offered for sale with vacant possession.
Source: JLL
As Hexacube sits on land zoned for commercial use, foreigners are eligible to purchase the property. No additional buyer’s stamp duty or seller’s stamp duty will be imposed on the purchase of the property. The expression of interest exercise closes on July 5.
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