Sim Lim Tower – Rare freehold office floor at city fringe for sale

SINGAPORE – Edmund Tie & Company (ET&Co), the sole marketing agent for a strata office floor at the 17-storey Sim Lim Tower, is pleased to offer the freehold
commercial property for sale by tender.

Sim Lim Tower. Picture: Edmund Tie & Company

Located on the 15th storey, the property spans across the entire floor and has a total strata area of approximately 778 square metres (sq m) or 8,374 square feet (sq ft). It offers a 360- degree panoramic view over the surrounding shophouses and the city skyline.

Sim Lim Tower enjoys an excellent location at the fringe of the city centre. It is conveniently located at the doorstep of Jalan Besar MRT station on the Downtown Line and within 600 metres to three other MRT stations – Rochor MRT station, Bugis MRT interchange and Little India MRT station, providing accessibility to the Downtown, East-West and North East Lines.

Amenities are aplenty in the vicinity, including Albert Centre Market & Food Centre, banks, hotels, malls and the upcoming Tekka Place – a retail mall with 320 serviced residences.

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Albert Centre, Bugis. Picture: iProperty

The property stands to benefit from the ongoing rejuvenation and transformation of the Beach Road/Ophir-Rochor Corridor which is envisioned to be a vibrant mixed-use cluster. Such transformations can be exemplified with both new and upcoming developments such as DUO, South Beach, Guoco Midtown, Tekka Place and the new Shaw Tower.

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The executive director of investment advisory Swee Shou Fern commented: “This offering of a freehold strata office floor presents an attractive and rare opportunity to buy into the rising office sector as well as its strategic city fringe location in the exciting Beach Road/OphirRochor Corridor. Coupled with its freehold tenure and commanding views, we expect strong interest from both investors and end-users seeking assets with long-term investment value.”

As the property is zoned Commercial, it is not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) and is eligible for purchase by local and foreign buyers.

The asking price for the property is $15m, which reflects $1,791 per sq ft on the strata area.

The tender exercise will close on Tuesday, 23 July 2019 at 3 pm.

This article is contributed by Edmund Tie & Company.