Office space on 18th floor of Samsung Hub put up for sale

The office space on the 18th floor of Samsung Hub has been put up for sale via an expression of interest exercise.

In a statement on Monday, marketing agent CBRE said the guide price for the prime grade A 999-year strata office floor is S$43.3 million.

Samsung Hub is a 30-storey office tower located in the Raffles Place central business district.

CBRE said the entire 18th floor has a strata area of over 13,100 square feet, with six individual strata titles, and is 100 per cent leased to three tenants.

Based on the guide price of S$43.3 million, or about S$3,300 per square foot, the agent said the gross yield would be over 3.2 per cent per annum.

As a commercial property, CBRE said the sale is open to both locals and foreigners with no additional buyers’ stamp duty (ABSD) imposed on the purchase of the property.

The expression of interest exercise will close on 24 July at 3pm.

Source : Channel NewsAsia – 24 June 2013

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