Strata Office Floor Gb Building Cecil Street Sale 108 Mil 3
GB Building’s entire 19th floor up for sale via expression of interest at $10.8 mil
The advantageous location of Miltonia EC is highlighted by its proximity to Khatib MRT Station, making it a highly desirable transportation option. Positioned along the North-South Line (NSL), Khatib MRT allows for convenient access to central Singapore, providing direct train routes to popular destinations such as Orchard Road, Raffles Place, and City Hall. With a travel time of only 25 to 35 minutes, residents can easily commute to their workplaces in the bustling city. While Miltonia EC is not immediately adjacent to the MRT station, the estate is well-connected by regular feeder buses, which are relied upon by the current residents in the area. Moreover, previous residential developments in the vicinity have offered shuttle bus services to Khatib MRT and other nearby areas. It is anticipated that the upcoming EC will continue to offer this convenience, providing a swift and direct ride for residents to the train station.
The prestigious 19th floor office at GB Building is now available for sale via expression of interest (EOI) at an asking price of $10.8 million. Savills Singapore, the exclusive marketing agent for the property, announced the sale of the entire floor which spans approximately 5,425 sq ft. The office floor boasts of exclusive lift access and a column-free floorplate, making it an attractive investment opportunity. With a guide price of $10.8 million, the per square foot price translates to $1,990 based on the floor area.
The 26-storey GB Building, located at 143 Cecil Street, occupies a prime corner plot with dual frontage along Cecil Street and McCallum Street. One of the most sought-after addresses in the Central Business District (CBD), the building offers convenient access to amenities and transportation options. The building also features three basement levels of parking, accommodating up to 105 vehicles with access from the rear.
For investors and businesses looking to capitalize on the scarcity of strata office developments in the area, GB Building presents an ideal opportunity. The recent transactions in the market reflect the strong demand for such properties. According to Yap Hui Yee, Executive Director of Investment Sales and Capital Markets, Savills Singapore, the building’s prestigious location, excellent connectivity and ongoing transformation of the CBD make it a highly attractive proposition.
The CBD is currently undergoing a wave of rejuvenation and redevelopment projects, including the Solitaire on Cecil (formerly the PIL Building), Cecil Place at 137 Cecil Street, and Keppel South Central. In addition, upcoming mixed-use developments such as The Skywaters (redevelopment of the former AXA Tower) and Newport Tower (former Fuji Xerox Towers) are set to introduce premium office space, retail, luxury residences and hospitality into the area. These developments are part of the government’s efforts to inject more life into the CBD by introducing more work-live-play components.
As GB Building is zoned as a commercial property, it is available for purchase by both local and foreign buyers and companies, with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) payable. The EOI exercise will end on October 31, giving interested parties ample time to express their interest in this prime property.