One Finlayson Green sold for this year's highest per square foot price of $2,520

The building was sold at $227 million or $2,360 per sq ft on the strata area.

According to Jones Lang LaSalle, One Finlayson Green is a freehold commercial building, strategically located at the junction of the prestigious Raffles Place and the New Downtown. It enjoys a prominent frontage and is very visible from the busy crossroads and the highly pedestrianised Raffles Place Park.

The building, comprising a 19-storey office tower, was developed in 1994 and has a total net lettable area of approximately 89,950 sq ft. The retail unit on the 1st and 2nd floor is currently occupied by AIA. The building has also obtained in-principle strata-title approval from the relevant authorities and each strata-titled unit is approximately 6,437 sq ft.

Ms Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, comments “With the rising office rental market and the limited availability of freehold office buildings in core Raffles Place, the interests in One Finlayson Green was very strong when it was put up for Expression of Interests late last year. The property attracted good interest from both strata-titled and enbloc buyers. After much negotiation between the buyer and seller, the deal was finally sealed. The buyer intends to keep the building for long-term investments.”