Office Units Samsung Hub And Adelphi Market 30 Mil
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EDGEPROP) – A premier office unit in Samsung Hub as well as two additional offices at The Adelphi have been listed for sale, announced Brilliance Capital, the sole marketing agent for the properties, in a press release on July 3rd.
The Samsung Hub unit occupies a high floor, encompassing an area of 3,595 sq ft. It will be sold with its current tenancy, and is available for purchase through a private treaty arrangement. The office features a regular and column-free layout, and has a value of $4,350 per square foot, which equates to approximately $15.6 million.
With a 999-year leasehold, Samsung Hub is a commercial property that boasts 30 floors. Being situated within the Central Business District, this office is in close proximity to major financial institutions and corporate headquarters. There is also a fully covered walkway connecting it to Raffles Place MRT Interchange Station.
Along with these two offices at the topmost level of the building, the two interconnected commercial strata units at The Adelphi are being sold. The units are 2,034 sq ft and 2,852 sq ft, respectively. Both have a reception area, an open office space, partitioned offices, conference rooms, a pantry area, discussion area and storage space. Their combined value is $14.4 million, or $2,950 per square foot. Buyers can opt to purchase them together or separately.
The Adelphi is a mix-use development that has a leasehold of 999 years. It houses a five-story retail podium as well as a six-story office block. The property is situated at the intersection of North Bridge Road and Coleman Street, right in the heart of the civic district and nearby the Central Business District. There is a copious number of parking spaces available, with a total of 382 car park lots.
Brilliance Capital’s founder and executive director, Sammi Lim, believes that the individual strata titles at The Adelphi provide buyers with the flexibility of selling on a small scale or leasing to multiple tenants. Lim adds that there could be potential for a collective sale exit in the future. She believes that there will be an abundance of interest from owner-occupiers, small businesses, private wealth entities and family offices that focus on long-term wealth preservation.
Both properties are available for purchase by foreigners without any additional buyer’s or seller’s stamp duty costs.