Notable Office Transactions

Property Price (SGD million) Price PSF NLA (SGD) Micro-Market Remaining Tenure
Robinson Point 500.00 3,736 Shenton Way /
Tanjong Pagar
Freehold
ABI Plaza 200.0 2,162 Shenton Way /
Tanjong Pagar
Freehold
Suntec City Tower One 10.6 3,443 City Hall 68 years
Central Plaza 135.7 1,490 City Fringe 70 years

Source: Colliers International
Note: Price of TripleOne Somerset at S$342 million is based on reported total asset value of S$1.14 billion

Jerome Wright, Senior Director, Capital Markets and Investment Services in Singapore at Colliers International, said, “In the third quarter, we saw Robinson Point being sold by Tuan Sing Holdings at the highest price on psf basis since the Straits Trading Building was sold in 2016. This transaction reflects investors’ appetite for quality, rare freehold office buildings as well as the long-term attractiveness of Singapore to investors.”

The average imputed capital value of CBD Grade A office properties declined 1.5% QOQ to S$2,468psf, in line with the rental declines in the quarter. Colliers’ valuation team, meanwhile, maintained cap rates unchanged at a range between 3.15% and 3.50% in Q3 2020.”