Payar Lebar precinct prime office space for sale at $23.5 million

(image: Savills)

Payar Lebar precinct prime office space for sale at guide price is S$23.5 million, translating to an average price of S$2,179 psf on strata area

Savills Singapore, announced on October 27 that as the exclusive sole marketing agent, it is pleased to offer for sale a sizeable prime office space of approximately 10,785 sq ft at Paya Lebar Square. The offering features four contiguous premium office units located on Level 9 of Paya Lebar Square.

Payar Lebar precinct prime office space
(image: Savills Singapore)

Paya Lebar Square is a mixed-used building consisting of a ten-storey premium office tower above a three-storey retail podium with prominent frontage along Paya Lebar Road. Completed in 2014 and designed by award-winning architectural firm DP Architects, the commercial development is strategically located in the heart of Paya Lebar Central and enjoys seamless connectivity with sheltered access to Paya Lebar MRT Interchange.

As part of the Urban Redevelopment Authorities strategy to decentralise and bring jobs closer to home, Paya Lebar has been identified as an up-and-coming commercial hub. Sitting at the gateway of Singapore’s Eastern Commercial Hub, Paya Lebar Square is well positioned to benefit from the rejuvenation of Paya Lebar with new projects such as Paya Lebar Quarter, SingPost Centre and Park Place Residences, thereby transforming the precinct into a dynamic and vibrant business hub.

Mr Galven Tan, Deputy Managing Director, Investment Sales and Capital Markets, Savills Singapore, noted: “Office spaces are still essential as employees will require the psychological and emotional benefits of a tightly woven team and strong corporate culture found in the workplace. As such, post COVID-19, businesses may look to have a satellite office in the city fringe with great accessibility to distribute their workforce.”

The Payar Lebar precinct prime office space features excellent specifications such as regular, highly efficient layout with maximum design efficiency.

The Payar Lebar precinct prime office space benefits from natural lighting through the floor to ceiling windows, and also enjoy triple facings with unblocked panoramic views.

“The Paya Lebar precinct has seen remarkable growth in recent years. With Paya Lebar Square the only strata titled office building with Grade A specifications in the vicinity, this offering presents an exceptional opportunity for both investors and end-users. Additionally, the opportunity to purchase a contiguous office floor space of 10,000 sq ft is extremely rare in the Paya Lebar area, as such ownership is extremely tightly held”, Mr Tan continued.

The guide price for the Payar Lebar precinct prime office space is S$23.5 million, translating to an average price of S$2,179 psf on strata area. The portfolio of four strata units is offered for sale as a bundle and on a vacant possession basis. Both foreigners and companies are eligible to purchase the Payar Lebar precinct prime office space and there will be no additional buyer’s stamp duty or seller’s stamp duty imposed.

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

  • 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.

Written by Ravi Chandran

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