Whole Floor Visioncrest Orchard Sold 58 Mil Strata Office Sales Heat

A local company with global operations has acquired an entire strata floor of 14,725 sq ft on the sixth floor of VisionCrest Orchard, formerly known as VisionCrest Commercial, for $58 million. This translates to a price of $3,939 psf. The deal was brokered by Alex Chuah, associate director of Huttons Asia.

While impressive, this transaction is not the highest price achieved in the development. In July, the ninth level of 14,844 sq ft was sold for $60.28 million, which works out to be $4,061 psf, according to a transaction filed on the SoReal platform. In addition, in July 2024, the eighth level, also measuring 14,725 sq ft, changed hands for $59.19 million ($4,020 psf).

Since its launch for strata sales in July 2024, five out of the 10 strata office floors (levels five to nine) at VisionCrest Orchard have been snapped up. Prices for these floors have ranged from about $57 million to $60.28 million, with buyers comprising both business occupiers and investors.

VisionCrest Orchard, an 11-storey freehold commercial building, features 10 floors of strata-titled office space (levels two to 11) and 11 strata-titled F&B units on the ground floor. To date, four out of the F&B units have been sold at an average price of $5,100 psf.

The building, previously known as VisionCrest Commercial, was acquired in November 2023 for $450 million, or nearly $3,000 psf. The buyers were real estate investment managers TE Capital Partners and LaSalle Investment Management. Subsequently, Singapore-listed Metro Holdings acquired a 20% effective stake. TE Capital and LaSalle hold 29.9% and 50.1% stakes respectively. The joint venture partners refurbished and repositioned the asset before relaunching it as VisionCrest Orchard in July 2024.

“The strata office market has seen steady interest in 2025,” says Huttons’ Chuah. Freehold, strata-titled office floors of this scale are rare along the prime Orchard Road belt in District 9.

Last year, the record was set at the Tong Building. In September 2024, three deals were brokered by Savills’ Yap Hui Yee: a full-floor unit of 6,867 sq ft on the sixth level was sold to Parkway Hospitals for $31.33 million ($4,562 psf). The Hour Glass purchased two full floors on the ninth and 10th levels for $33.5 million ($4,878 psf) and $35 million ($5,097 psf) respectively. The latter transaction set a new record for strata office space on Orchard Road.

Other prime new offerings in the market include 108 Robinson Road, Cecil Place at 137 Cecil Street, The Golden Mile, and One Sophia.

One Sophia, situated between Orchard Road and the arts and cultural enclave of Bras Basah, comprises a 13-storey commercial block with 122 strata-titled office suites and a two-storey retail podium with 127 strata-titled shops. Beside it is a 367-unit residential tower, The Collective at One Sophia.

The project is a redevelopment of the former Peace Centre and Peace Mansion, undertaken by SingHaiyi and Ultra Infinity, which acquired the 99-year leasehold property en bloc for $650 million in December 2021. Since its launch in October 2024, 32 strata office units have been sold, with caveats reflecting prices from $3.381 million ($3,569 psf) for a 947 sq ft unit on the 12th floor to $10.261 million ($3,036 psf) for a 3,380 sq ft unit on the fifth floor.

At the Golden Mile on Beach Road, three office units of 904 to 1,292 sq ft were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats. The project, which has a 99-year lease from 2024, is part of the conserved Golden Mile Complex redevelopment by Far East Organization, Perennial Holdings, and Sino Land. It includes Aurea, a 45-storey residential tower with 188 units.

According to Huttons’ 1H2025 commercial report, the total value of strata office transactions surged to $700 million in 1H2025 — a 60% jump from $437.3 million in 1H2024.

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“Declining interest rates have created a positive carry for investors and real estate funds, spurring renewed demand in the strata office market,” notes Chuah. In 1H2025, 189 strata office units changed hands, up 22.7% y-o-y. In the CBD, PGIM Real Estate launched its refurbished 12-storey freehold tower, 108 Robinson Road, for strata sales in early 2024. To date, only the third floor remains available. The largest deal was in May this year, when three floors — the eighth, 11th and 12th — totalling 14,252 sq ft were purchased by Kwan Im Thong Hood Cho Temple for $55.8 million ($3,915 psf), according to caveats. PGIM had acquired the building for $143 million in 2021 and extensively refurbished it before launch.

In March this year, the top three floors at 20 Collyer Quay were sold to a GuocoLand subsidiary for $91.8 million, marking the largest strata office deal in the first half of 2025.

Three office units of 904 to 1,292 sq ft at The Golden Mile were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats (Photo: Samuel Isaac Chua/EdgeProp Singapore)The Golden MileAt the Golden Mile on Beach Road, three office units of 904 to 1,292 sq ft were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf, based on lodged caveats. The project, which has a 99-year lease from 2024, is part of the conserved Golden Mile Complex redevelopment by Far East Organization, Perennial Holdings, and Sino Land. It includes Aurea, a 45-storey residential tower with 188 units.

According to CBRE, the average psf price for strata office space in the CBD was $2,992 in the first six months of 2025. This is a 1.4% increase from the same period last year. In contrast, in the CBD Fringe, the average price for strata office space in 1H2025 stood at $2,325 psf, down 9.7% y-o-y.

As the strata office market continues to attract strong interest, more prime new offerings are expected to hit the market. These include Duo Tower in the Bugis precinct, Guoco Midtown in Beach Road, and 9 Penang Road, the former Park House site.