Colliers International, Singapore

International property consultant, Colliers International will be putting up for sale on January 9, 2008, a five-storey office building located at 33 Middle Road.  Interested buyers are invited to submit their offer to Colliers International by January 31, 2008.

The subject property currently sits on a 999-year leasehold land (w.e.f. January 30, 1835), which measures approximately 3,749 sq ft. With a gross floor area of approximately 16,954 sq ft, the property comprises showroom space on the ground floor and office units from the second to fifth storeys with car park facilities.

Indicative price for the property is in the region of S$23 million.

Under the 2003 Master Plan, the subject site is zoned for “Commercial” use with a gross plot ratio of 4.2 and an allowable height of up to six storeys.

Mr Ho Eng Joo, Executive Director of Investment Sales, Colliers International, says, “Current rents of similar grade office buildings along Middle Road are in the range of S$7.00 to S$7.50. We foresee strong interest from investors who are attracted by the opportunity posed by the current tight office supply in the market, which saw more tenants relocating to the fringe CBD area. In addition, rental rates in that area are also likely to increase further with the market anticipation of the development of the integrated hotel, retail and office project along Beach Road.”

Mr Ho continues, “Meanwhile, the property is also ideal for corporate end users who are looking to relocate, as the last tenancy will be expiring in the third quarter of this year.” 

The subject property is minutes’ away from both City Hall and Bugis MRT stations and access to other parts of the island is easily available via East Coast Parkway, Central Expressway and Nicoll Highway.  Other commercial buildings in the vicinity include Bugis Junction Towers, 11 Beach Road, North Bridge Commercial Complex and Premier Centre.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Ms Seah Li Ching
Senior Executive, Marketing and Communications
Tel: 65 6223 2323
Direct: 65 6531 8545

Mr Ho Eng Joo
Executive Director, Investment Sales
Tel: 65 6223 2323
Direct: 65 6531 8618 

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