PROPERTY DETAILS135 Cecil Street is a 13 storey premium grade office tower. Extensively refurbished in 2007, the building has a net lettable area of approximately 81,500sqft with a typical floor plate of approximately 6,500sqft per floor.
Located in the Central Business District, 135 Cecil Street is within
minutes’ walk to both Raffles Place and Tanjong Pagar MRT stations. It has car parking facilities in the building and is easily accessible to shops, food amenities, clinics, banks and major expressways.
PERTINENT DATA
Tenure Freehold
GFA Area Approx. 100,900sqft
Nett Lett Area 83,076 sqft
Site Area 8,011sqft
Car Park Building has 31 car park lots in its 3 basement levels
Plot Ratio 11.2 plot ratio indicated for the site under Master Plan 2008. It is zoned for commercial use.
Typical floor plate Approx 6500sqft
Floor to Ceiling Ht Approx 2.75m
Floor System Raised Flooring
Floor Loading Approx 4kn/sqm
Aircon System Central VRF system
Typical floor plate Approx 6500sqft
Floor to Ceiling Ht Approx 2.75m
Floor System Raised Flooring
Floor Loading Approx 4kn/sqm
Aircon System Central VRF system
Rental
Building is approx. 90% occupied. Average monthly passing rent is approx. $7 to $8psf. The latest large lease renewal was sealed in July 2011 when tenant State Bank of India which occupies the ground floor and UOB was achieved at approx. $8.23psf.
Remarks
Unsolicited offers have come in for approx. $2200psf which the owner has declined.
Recently mid 2011 two floors of Samsung Hub were sold at $2550psf.
Now another two floors are available for purchase at asking price of $3000psf. Likely price owner will consider is $2800psf.
Therefore based on net lettable area of 83,076sqft the consideration will be:
@ $3000psf approximately $249m
@ $2800psf approximately $191m
In general, yield for Cecil Street would be approximately in the range of 2-3%
whilst that of Samsung Hub & Suntec approximately 3-4%.
