Knight Frank Singapore Appointed Exclusive Marketing Agent for Strata Office Unit at The Adelphi

The offered office unit sits on Level 8 of The Adelphi and enjoys unblocked views of the Marina Bay Sands and the Central Business District (“CBD”). It has a strata area of 391 square metres, or approximately 4,209 square feet. Its indicative guide price is between S$11.8 million to S$12.0 million, which works out to S$2,803 per square foot (psf) to S$2,851psf. The sale is open to both locals and foreigners, with no Additional Buyer’s Stamp Duty imposed on the purchase.

The Adelphi is a 999-year leasehold mixed-use development comprising a retail podium from Basement 1 to Level 4 and strata office units on Levels 5 through 10. Located directly next to the Supreme Court Building, it is a five-minute walk from City Hall Mass Rapid Transit (“MRT”) Station, an interchange which serves the East-West Line and North-South Line. It is also highly accessible via the Central Expressway (“CTE”) and other major arterial roads such as North Bridge Road, Victoria Street and Nicoll Highway. And it is surrounded by shopping and dining amenities at Funan, Capitol Piazza and Raffles City.

Total strata office transaction volumes remained stable in the second half of 2021, recording a total of 165 transactions. The total transaction volume in 2021 was 334, a huge increase of 56.8% year-on-year compared to 213 transactions in 2020, when market sentiment was impacted by the COVID-19 pandemic. In light of the recent property cooling measures targeted at residential properties, investors are likely to invest in commercial properties instead. Demand for strata office units is expected to grow this year in tandem with the easing of safe management measures.

Ms Mary Sai, Executive Director of Capital Markets, Knight Frank Singapore, shared, “This asset is perfect for both office users who want their own space in the CBD, as well as investors seeking stable rental returns. Considering the recent government announcement to restrict strata subdivision of new commercial buildings in some parts of CBD, the supply of good-sized strata units in prime areas will be limited. Given that the office unit is nicely fitted and reasonably priced, we expect it to attract keen interest.”

The EOI for the strata office unit will close on 28th April 2022, Thursday at 3.00 p.m.

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For further information, please contact:

Mary Sai, Executive Director, Capital Markets, Knight Frank Singapore (E) [email protected] (D) +65 6228 6886 (M) +65 9388 7879

Esther Sim, Senior Manager, Capital Markets, Knight Frank Singapore (E) [email protected] (D) +65 6228 6863 (M) +65 9237 7943

Hector Tan, Head, Marketing & Communications, Knight Frank Singapore (E) [email protected] (D) +65 6228 7358

Jane Sng, Assistant Manager, Marketing & Communications, Knight Frank Singapore (E) [email protected] (D) +65 6228 6827