-- CBRE, as the exclusive marketing agent, is offering for sale 43C Beach Road, a strata office floor located in Evershine & Century Complex. The sale will be conducted via an Expression of Interest exercise which closes on Wednesday, 7 February 2024, at 3pm.
Located along the busy Beach Road with excellent road frontage, Evershine & Century Complex is a 5-storey commercial development with shops on the ground floor and offices on the upper floors. The property for sale occupies the entire 4th floor of the building and has a strata area of approximately 2,530 square feet. It features a regular floor plate and is served by a passenger lift.
The guide price is S$5.6 million, which translates to approximately S$2,213 per square foot on the strata area. Being a commercial property, both locals and foreigners are eligible to purchase and there will not be any Additional Buyer’s Stamp Duty and Seller’s Stamp Duty applicable.
Mr Michael Tay (郑兆能), Head of Capital Markets, Singapore at CBRE, says, “Given its strategic location in the heart of Bugis, we expect strong interest from both investors and owner-occupiers for 43C Beach Road. This opportunity to own a 999-year strata office floor of a palatable quantum in the prime Bugis precinct is rare and presents an excellent chance for investors looking to ride on the area’s rapid growth into a key commercial hub. The property will also appeal to end-users who want to acquire the premise for their own operations.”
The Bugis precinct has in recent years undergone transformation from a secondary commercial area, into one of Singapore’s most vibrant locations for business, leisure, and residences. Anchored by developments such as Bugis Junction, DUO, South Beach, and Guoco Midtown, it is also home to a wide array of F&B, retail, lifestyle, and cultural offerings, as well as upscale hotels. Upcoming new projects including The M, Shaw Towers, and the redevelopment of Golden Mile Complex will further cement its status as one of the most important areas in Singapore’s Downtown Core.
Mr Tay adds, “The strong take-up of office space in major developments within the Bugis precinct, which is now home to tenants from various sectors such as financial services, automobile, shipping, and technology, is testament to the attractiveness of this exciting precinct. The influx of quality occupiers has brought about an escalation in rents and capital values for commercial assets in this location. With the prospect of further uplifts as the precinct continues to evolve, 43C Beach Road being situated at the
core of this area presents a superb opportunity for both investors and occupiers to partake in this massive transformation.”
43C Beach Road enjoys seamless connectivity to other parts of Singapore via private and public transportation. It is within short walking distance to four MRT stations including Bugis, City Hall, Esplanade, and Bras Basah, and is also served by major roads and expressways including Nicoll Highway, Central Expressway (CTE), and East Coast Parkway (ECP). Its proximity to the core CBD and convenient access to a holistic range of amenities combine to position it as a desirable location for a diverse range of businesses.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
