CBRE Singapore as the exclusive marketing agent, will be launching Level 8 and 9 of Springleaf Tower for sale by way of Expression of Interest which will close on 25 August 2021 at 3 pm. Michael Tay (郑兆能), Head of Capital Markets, Singapore at CBRE, says, “Springleaf Tower is tightly held by only a few owners,”

Springleaf Tower is a 37-storey Grade A office building with a 99-year leasehold tenure (w.e.f. 1996) at 3 Anson Road. Level 8 and 9 each has a strata floor area of approximately 10,333 sq ft and comes with exclusive use of the lift lobby, restrooms, and pantry. The subject property also features premium office specifications – including raised flooring, a 2.8-meter floor-to-ceiling height, and air-conditioning which allows for independent floor operation.

To be sold either individually or collectively, each floor has a guide price of S$25.83 million, which works out to approximately S$2,500 per square foot based on the strata area.

Both locals and foreigners are eligible to purchase the subject property, which is zoned for “Commercial” use. There will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty imposed on the purchase.

Springleaf Tower features a grand marble-clad office entrance lobby that has a height of three storeys. The building has a generous car parking provision of 131 lots across levels three to five and a sheltered drop-off point.

Given the building’s hi-specs quality and strategic location at the junction of Anson Road, Springleaf Tower has consistently enjoyed a high occupancy rate, accommodating a strong tenant profile from diverse trade mix.

Michael Tay (郑兆能), Head of Capital Markets, Singapore at CBRE, says, “Springleaf Tower is tightly held by only a few owners, so it is relatively uncommon for office space within the building to be put up for sale. This would be a good opportunity for end-user occupiers to acquire quality premises for their own operations and be amid some of the MNC brands in the locale.”

The Tanjong Pagar precinct has undergone an exciting rejuvenation, anchored by Guoco Tower, Frasers Tower, and the newly completed 79 Robinson Road. There are also buildings scheduled to enter the sub-market upon redevelopment, including AXA Tower, Fuji Xerox Towers and Keppel Towers. The increasing popularity of Tanjong Pagar is reflected by the MNC tenants from a diverse mix of sectors – including ABN Amro, Allianz, ByteDance, Equinix, ING and Microsoft, all of whom have chosen to locate in this vicinity.

New lifestyle and F&B offerings now complement the commercial and residential elements which this area is traditionally known for, transforming Tanjong Pagar into a vibrant live-work-play community hub.

Strong investor interest is expected for the subject property.

Mr Tay continues, “The government’s CBD Incentive and Strategic Development Incentive schemes are set to transform the area into a future-ready CBD enclave with a live-work-play vision, comprising a dynamic blend of commercial, hospitality, residential and leisure uses. Furthermore, against the backdrop of a tight Grade A CBD office supply, we are optimistic that the offering will strongly appeal to investors with a mid- to long-term investment view to capitalize on the potential increasing rents and capital values.”

One recent transaction of strata Grade A office with the Central Business District is Level 9 at Samsung Hub which changed hands at S$4,050 per square foot in May 2021.

Springleaf Tower enjoys direct sheltered connectivity from Tanjong Pagar MRT station, and tenants and visitors can also utilize the well-linked underground walkways to access surrounding developments within the vicinity. Retail amenities and F&B offerings are aplenty, being closely located to Amoy Street Food Centre, Maxwell Food Centre, Lau Pa Sat Food Centre and the wide range of popular bars and restaurants at the shophouses along the Telok Ayer and Amoy Street. 

To request a copy of the Information Memorandum please contact the marketing agents CBRE via the contact details below.