Mortgagee sale: Suntec City strata office unit going for $6.7 mil
The enhancement gains from sheltered connection to close-by transportation nodes, including City Hall, Promenade and Esplanade MRT stations, providing links to the North-South, East-West, Downtown and Circle lines. It is additionally attached to major expressways such as the East Coastline Parkway, Ayer Rajah Expressway and Pan Island Expressway.
Suntec Tower One is one of Suntec City’s five Quality A business office high rises. Developed in the mid-1990s, the integrated property development on Temasek Blvd also features a retail shopping center, along with a convention and exhibition center.
Other strata offices at Suntec City have also been put up for sale just recently. Previous month, a set of strata office space units at Suntec Tower One were launched for sale via an expression of interest exercise, which are going to close on May 5. The adjoining units, which have a complete strata area of 7,395 sq ft, have a guide rate of $22.04 million ($2,980 psf).
A 2,142 sq ft strata business office unit at Suntec Tower One, in Suntec City, will get on the block at Knight Frank’s next property public auction on May 21 in a mortgagee sale. The property has a guide rate of $6.7 million, which equates to $3,128 psf based upon the strata area.
Suntec City undertook substantial possession enhancement initiatives in 2022, consisting of enhancement to entrance foyers, reception parts, concierge areas, lift lobbies and washrooms.
As a commercial property, the unit is not subject to extra buyer’s stamp obligation, and is available to international buyers.
The unit features a column-free design, which is normal of units in Tower One, enabling reliable workstation arrangements and collaborative rooms, adds Lee.
Cautions suggest that the unit available for sale last switched hands for about $4.61 million, or $2,150 psf, in November 2019. Lee assumes the property to bring in interest from both investors and end-users, in the middle of a scarcity of new strata-titled workplace source because of URA constraints.
Earlier this month, 3 full workplace floors were sold, consisting of the 27th ground at Suntec Tower One and the 12th and 13th floors at Suntec Tower Two. The accounts contains five individual strata titles with a combined location of 40,300 sq ft. It has an overview price of $135 million, which calculates to $3,350 psf.
Based upon lodged caveats, Suntec Tower One viewed 7 purchases last year, at an average reselling price of $3,279 psf. The most current transaction there was the sale of a 2,196 sq ft unit on the 39th level for $8.1 million ($3,689 psf) in July 2025.
Some other resale deals at the tower varied from $2,956 psf, when a 2,131 sq ft unit on the 19th level fetched $6.3 million in March 2025; to $3,364 psf, which originated from the resale of an office floor, making up 3 strata units measuring 10,097 sq ft, for $33.96 million in July 2025.
According to Sharon Lee, managing director of auction and sales at Knight Frank Singapore, this is the very first time the building are going to be auctioned. It is going to be marketed with its existing occupancy, which will certainly generate a rental return of more than 3.3%, based upon its guide rate.
