12 Paya Lebar Square units up for sale

The units are in the property’s 8th floor and have a floor area of 8,503 sqft.

Twelve adjoining premium office units at the 8th floor Paya Lebar Square have been put up for sale via public tender, marketing agent CBRE announced. The units have a combined floor area of approximately 8,503 sqft and are located next to the lift lobby.

According to an announcement, Paya Lebar Square is a 13-storey mixed development comprising an office block from the 5th to 13th storey and a retail podium from basement 1 to 2nd storey. Its retail podium comprises a tenant mix including banks, cafes, a food court, a supermarket, and other retail offerings.

Paya Lebar Square is situated next to the Paya Lebar MRT Interchange station (EW8/CC9) which offers connectivity via the East-West and Circle Lines. It is six stops to Raffles Place and a 10-minutes away from the CBD.

The development is also accessible via various expressways such as Pan Island Expressway (PIE), East Coast Parkway (ECP), and Kallang Paya Lebar Expressway (KPE). Changi Airport is a 15-minute drive away.

CBRE capital markets director Sammi Lim said, “We believe these units will appeal strongly to investors who wish to own a portfolio of commercial units with a steady rental income as the units are fully tenanted. Investors will also have the option to divest the units on an individual basis in future.”

Lim added that as the units are zoned under commercial, both local and foreigners are eligible to purchase them without additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the units.

“We expect the premium units to garner keen interest from both investors and owner-occupiers. They are likely to attract private equity firms, family offices, corporates and high net-worth individuals, both local and overseas, who are seeking quality and strong yielding assets, with a mid- to long-term view of potential rental and capital appreciation in a high-growth location like Paya Lebar, against the backdrop of a stronger commercial and strata market scene,” she added.

The tender closes on 3 August 2018, Friday at 3 p.m.