Three stratum floors totaling 37,857 square feet at Solitaire on Cecil, an impending freehold 20-story office skyscraper by TE Capital Partners and LaSalle Investment Management, sold for $162.8 million.
The purchaser is a Singaporean family office run by ultra-high-net-worth individuals. The transaction intermediary was Savills Singapore.
One of the largest sales in absolute value since January 2022 was the selling of the three strata office floors of The Continuums and The Continuums Floor Plan on Cecil. The psf price of $4,325 for the sale of level 20 in the CBD’s commercial office market is now the standard.
Six of Solitaire on Cecil’s fifteen office floors have already been purchased. Galven Tan, deputy managing director of Savills investment sales & capital markets, notes that “most buyers are high-net-worth individuals and local and foreign family offices.” Even more Chinese organizations are showing interest and want to see the show.
Solitaire on Cecil’s two ground-floor café/restaurant spaces have also been leased out, with one selling for over $5,400 psf and the other said to have fetched about $6,000 psf.
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