AXA Tower work place up for sale coming from S$2, 550 psf

Two strata office floors located at AXA Tower at 8 Shenton Way is up for sale coming from S$2, 550 per square foot.

The office space belongs to Perennial Real-estate Holdings.

With a total strata area of about 25, 500 square feet, the offering spans two office floors at the development and comprises 8 strata office units around the 21st ground and six strata office units found on the 35th floorboards. The office sections have unblocked sea displays and come a regular and column-free structure.

Buyers have the choice to purchase the strata sections on an specific basis — with every single strata product ranging from one particular, 744 sq ft to 1, 959 square feet — or the two office flooring surfaces collectively.

Key tenants inside the development incorporate AXA Insurance, BOC Flying, Lazada and Tan Kok Quan Alliance.

The property is certainly slated with regards to extensive property enhancement performs, including a fresh double-volume grand entrance foyer and drop-off point along Shenton Approach, an extension of the existing retail sc´┐Żne to offer even more food and beverage and retail alternatives, a brand new two-storey annex hinder housing medical suites, and enhancements for the lift and security features with the installing of security gantry systems.

Replacing works will probably be carried out in phases and expected to come from the third 1 / 4 this year.

A consultant declared prices with regards to the modern strata business office developments inside the CBD typically range from S$2, 800 to S$3, 600 per sq ft on strata region. With the office units at 8 Shenton Way priced at an attractive price point of S$2, 550 per sq ft onwards, strong interest can be expected from end-users who are looking to own their own quality space in the CBD at an affordable price.

He added the rejuvenation in the Tanjong Recompensar sub-market and the gradual development of the Greater Southern Waterfront enables investors to reap strong capital gratitude of the home in the mid to long term.

As the home sits on land zoned for commercial use, foreigners are eligible to purchase the home. There is also no Additional Buyer’s Stamp Responsibility or Seller’s Stamp Responsibility imposed within the purchase of the home.

Perennial Real-estate Holdings at its recent results briefing declared that it was intensifying strata sale efforts at AXA Tower, while managing the leasing commitments presently there. In the 1st half of the season, about 64, 050 sq ft of office space was leased by new and existing tenants at AXA Tower.