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Paya Lebar Square Training Centre Space for sale at $6.1 million

by • May 20, 2020 • Commercial PropertyComments (0)93

Knight Frank Singapore announced on 19 May that it is pleased to offer a Paya Lebar Square Training Centre Space for sale by private treaty. Comprising 2 adjoining units, the Paya Lebar Square Training Centre Space is located on a high floor with a total floor area of 2,680 sq ft.

Paya Lebar Square Training Centre Space

Image: Knight Frank

The fully fitted Paya Lebar Square Training Centre Space currently conducts classes for working adults and can be easily converted to a corporate office with meeting rooms and agile-working spaces.

Completed in 2014, Paya Lebar Square is a bustling commercial development consisting of a 10-storey office tower and a 3-level retail podium. It is linked directly to Paya Lebar MRT Interchange, covering the East-West and Circle Lines. The vicinity has become a vibrant precinct with the rise of nearby integrated destinations, Paya Lebar Quarter and SingPost Centre. While the offices in both buildings are wholly held by the developer for lease only, offices in Paya Lebar Square are strata-titled and have transacted in the range of $1,800 psf to $2,000 psf in the recent months, by various owners.

The asking price for the Paya Lebar Square Training Centre Space unit is S$6.1 million (S$2,276 psf).

“As safe distancing and work-from-home measures take place in light of current circumstances, smaller offices in suburban areas with good transport connectivity will appeal to companies looking to downsize as a cost-saving measure, or have satellite offices as part of Business Continuity Plans after the 2-month circuit breaker period,” said Mary Sai, Executive Director, Investment and Capital Markets, Knight Frank Singapore.

As more home-based and web-based learning activities gain popularity, Sai reckoned that training and educational centre operators may find the set-up, layout and teaching equipment available in the Paya Lebar Square Training Centre Space suitable for their immediate occupation and operations.

Paya Lebar Square is located right in the heart of Paya Lebar Precinct. It is seamlessly connected to Paya Lebar MRT Interchange via Level 1 to the East West Line whilst Basement 1 is directly linked to the Circle Line. Paya Lebar Square is a bustling commercial mixed development that consists of a 10-storey office tower and 3 levels of retail experiences.

The shopping mall is home to more than 100 outlets and F&B options that include Keisuke chain of restaurants, Jollibee, Giant Supermarket, OCBC, Miniso, ensuring we offer a wide variety of choices and tastes for you. With its carefully curated mix of stores and restaurants, Paya Lebar Square aims to offer its shoppers an experience that is fun, cosy and great value.

Paya Lebar Square is a 99-year Leasehold commercial property located at 60, Paya Lebar Road, 409051 in District 14. Paya Lebar Square is primarily used for Commercial/Office rental and sale. Paya Lebar Square is close to Paya Lebar MRT and MacPherson MRT. It is near to several bus stops located at Paya Lebar Road, Bef Geylang Fire Station, Paya Lebar Road, Paya Lebar Station, Paya Lebar Road, CISCO Centre and Paya Lebar Road, Opp Paya Lebar Station.

Amenities near Paya Lebar Square Paya Lebar Square is near to several eateries located at nearby buildings such as City Plaza, Geylang Serai Market and Food Centre and Singapore Post Centre. Paya Lebar Square is within reasonable distance to Shop N Save Supermarkets. It is also close to Tanjong Katong Complex, City Plaza and Joo Chiat Complex for an array of amenities such as grocery and retail shopping, banks and more. Paya Lebar Square is accessible via Paya Lebar Road and Eunos Avenue.

Paya Lebar Square is a unique commercial development. Prime strata-titled office space in a well located development is rare. With limited supply, strong occupier demand, high liquidity and low interest rates, such properties are a great investment opportunity.

Superb Location
Right above Paya Lebar MRT Interchange and with an excellent frontage along Paya Lebar Road. The Central Business District (CBD), Changi Airport and Orchard Road shopping belt are just 10 to 15 minutes’ drive away.

Exceptional Connectivity
Paya Lebar Square will connect seamlessly to Paya Lebar MRT Interchange on the East-West and Circle lines. Well served by expressways such as the PIE & KPE and major arterial roads such as Geylang Road and Paya Lebar Road. Easy accessibility to the CBD, Orchard Road shopping belt and Changi Airport.

Great Investment – Attractive And Affordable Investment Opportunity

  • Strata-titled ownership of office space of various sizes start under a million dollars.
  • In contrast to residential properties, bank loans for commercial properties are not subject to lower Loan-to-Value limit for buyers who have existing outstanding housing loans.
  • While the Government imposes Seller’s Stamp Duty (SSD) on residential properties which are sold within 4 years of acquisition, a similar imposition does not apply to commercial properties.
  • Attractive end-financing packages are available to investors.

Potential For Growth
Located at the fringe of the city centre, Paya Lebar Central is part of URA’s larger decentralisation strategy in the Concept Plan to provide alternatives for businesses and jobs closer to homes.

Established developments near Paya Lebar Square include the Singapore Post Centre, Certis CISCO Centre and future integrated projects along Sims Avenue/Tanjong Katong Road as well as the Lion City Hotel Redevelopment.

It is to be developed into a sizeable fringe commercial centre with a mix of office, retail, hotel and attractive public spaces in the next 3 years. Next to Paya Lebar Square is the upcoming Continuing Education & Training (CET) East Campus developed by the Singapore Workforce Development Agency (WDA) and is slated for completion in 2013.

Foreigner Ownership
There are no restrictions on foreign ownership. Capital gains are not subject to regulations on tax by Inland Revenue Authority of Singapore (IRAS). Clear and transparent acquisition system governed by Singapore’s authorities.

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