CBRE, as the exclusive marketing agent, is pleased to offer for sale Siakson Building, a boutique commercial building located at 3 Miller Street in the City Hall submarket.

Strategically located within the City Hall micromarket, at the junction of Victoria Street and Miller Street, Siakson Building enjoys high visibility and dual frontage. The 5-storey building, with a 999 years land tenure, has a remaining tenure of approximately 804 years, which commenced in April 1827.

It has a total floor area of approximately 5,000 square feet and a land area of approximately 1,798 square feet. Under the 2019 Master Plan, the site is zoned “Commercial” with a plot ratio of 4.2. Both locals and foreigners are eligible to purchase with no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty imposed on the commercial property transaction.

The Property has an indicative guide price of approximately S$30 million, which works out to be approximately S$3,971 per square feet on the maximum gross floor area of approximately 7,554 square feet.

Mr Joshua Giam, Associate Director of Capital Markets, Singapore at CBRE says, “We are confident that the Property will garner strong interest from both astute investors and owner-occupiers. Considering the ongoing rejuvenation in the vicinity, the buyer can expect to enjoy rental and capital value upsides in the near future, when the area is transformed into the next hotspot to live, work, and play. Additionally, the buyer can explore a redevelopment or perform asset enhancement works to capitalize on the unutilized GFA of approximately 2,554 square feet, without incurring any development charge due to a high URA development baseline for the site.”

The location has a diverse mix of cultural, entertainment, F&B and lifestyle attractions frequented by both locals and tourists. A host of amenities are readily available within minutes too. Carlton Hotel, with 940 room is just directly opposite, while Raffles Hotel Singapore, and InterContinental Hotel are nearby. Other notable landmarks include Raffles City and Chijmes, with upcoming developments around the area such as Guoco Midtown, Shaw Tower redevelopment and Milieu @ Middle Road, that will further boost its vibrancy.

The subject property is well-connected to other parts of Singapore via public and private transportation. There are 4 MRT Stations within a 500-meters radius from the Property – City Hall MRT Station, Bras Basah MRT Station, Bugis MRT Station and Esplanade MRT Station. It is also well served by major roads and expressways such as Victoria Street and Nicoll Highway.

The sale will be conducted by way of Expression of Interest, which closes on 8 September 2022, Thursday, at 12pm.

To request a copy of the Information Memorandum please contact one of the exclusive marketing agents Mr Joshua Giam, Associate Director of Capital Markets, Singapore at CBRE via the contact details below.