Southpoint Office Unit for Sale Through Personal Treaty at $18 mil

A workplace unit measuring 8,019 sq feet at Southpoint, situated on Cantonment Road, was set up for sale at $18 million ($2,245 psf). The device on the floor loves unblocked ocean and port views. Even though the 16-storey office construction includes a freehold tenure, the strata-titled office for sale is 99 decades leasehold with effect from 1985.

Canninghill Piers new launch an integrated development developed by CDL, CapitaLand and Ascott Reit.

This is due to the fact that the developer of Southpoint had sold a number of those strata office units using a freehold tenure, and many others on a leasehold basis, points out Stella Hoh, primary executive officer of Richmond Capital, who’s advertising the unit. The office building was created by Kuo International and finished in 1985.

The unit available is now tenanted till March 31. The marketplace indicative lease is $7 psf per month. This translates into a gross rental return of approximately 3.7%, ” says Hoh.

The normal floor plate on every amount of South Point is approximately 16,000 sq feet in size. The freehold building has a entire floor area of roughly 239,927 sq ft.