Tripleone Som­er­set

Prized 17th floor pent­house for sale

Golf Asia - - LUXE PROPERTIES -

Tripleone Som­er­set is a 17-storey prime in­te­grated devel­op­ment with two pre­mium-grade of­fice tow­ers and a re­tail-cum-med­i­cal podium with a shel­tered seam­less ac­cess to the Som­er­set MRT sta­tion. It ben­e­fits from dual drop off points along Som­er­set Road and Devon­shire Road and a high car park­ing pro­vi­sion of ap­prox­i­mately 400 lots. It is highly re­garded as a pre­mium strata com­mer­cial of­fice with a strong pro­file of owner-oc­cu­piers and ten­ants con­sist­ing of lux­ury fash­ion and life­style brands. The en­tire top floor in the Som­er­set Tower with a strata area of ap­prox­i­mately 979 sq m / 10,537 sq ft, comes with a ro­bust and sta­ble rental in­come stream which gen­er­ates an at­trac­tive yield of 3.5% per an­num.

Sammi Lim, Direc­tor, Cap­i­tal Mar­kets, CBRE said, “This is an ex­tremely rare op­por­tu­nity to pur­chase a pent­house of­fice floor in Sin­ga­pore’s prime Or­chard area where there has not been a launch of new strata of­fice units for sale in over three decades. Only units in the se­condary mar­ket are avail­able, and they are typ­i­cally in age­ing build­ings that are in need of a makeover. Ow­ing to scarcity, even units in these prop­er­ties are trad­ing at pre­mium prices. We ex­pect to re­ceive strong of­fers in ex­cess of S$32 mil­lion, or S$2,980 per square foot, and es­pe­cially with the build­ing an­chored by a new re­tail podium and med­i­cal suites.”

Tripleone Som­er­set is now un­der­go­ing an ex­ten­sive asset en­hance­ment ex­er­cise which is led by Peren­nial Real Es­tate Hold­ings Lim­ited, the cat­a­lyst be­hind a string of suc­cess­ful mall re­vamps in­clud­ing CHIJMES and Chi­na­town Point. When the trans­for­ma­tion is com­pleted, the build­ing will have a shim­mery new gold fa­cade, trans­form­ing it into a new land­mark. Tripleone Som­er­set will also be re­vamp­ing its re­tail podium to in­tro­duce an ex­cit­ing and vi­brant re­tail of­fer­ing, which in­cludes a wide ar­ray of spe­cialty food as well as food and bev­er­age stalls with com­mu­nal seat­ing. The of­fice lobby will host a concierge ser­vice counter and the com­mon cor­ri­dors and lift lob­bies on ev­ery level of both Som­er­set and Devon­shire Tow­ers will also be com­pletely re­freshed. A new stretcher lift will be in­stalled to fa­cil­i­tate the new med­i­cal suites from Base­ment 1 to Level 4. In ad­di­tion, the ver­ti­cal con­nec­tiv­ity be­tween the carpark, re­tail podium and med­i­cal suites will be im­proved with the in­tro­duc­tion of es­ca­la­tors from Base­ment 2 to Level 4.

As a com­mer­cial prop­erty, this pur­chase is open to both lo­cal and for­eign buy­ers, and with no ad­di­tional buy­ers’ stamp duty (ABSD) or sell­ers’ stamp duty (SSD). CBRE is the sole mar­ket­ing agent for this Ex­pres­sion of In­ter­est Ex­er­cise. The ten­der closes on 21 July 2017, Fri­day at 3pm.

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