Rents for new Grade A offices are expected to be higher, according to Colliers International, which brokered this office purchase

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Novo Place e brochure

International PR and advertising company Publicis Groupe has leased 55,000 square feet of office space in Grade A at Guoco Midtown, the 30-storey office tower in the mixed-use Guoco Midtown project by GuocoLand located at Beach Road.

Novo Place e brochure features a residence that is easily accessible through the established transport system. Residents can use either public or private transport to access other Singapore cities.

According to Colliers International, who negotiated the office deal, rents for the brand new Grade A offices along this stretch of Beach Road are about $9.90 per month. The company did not disclose the amount Publicis Groupe paid for its new office space in Guoco Midtown.

The office tower has a traditional floorplate configuration from the eighth to the 29th floors as well as a landscaping Sky Park on the seventh floor. Every office floor is equipped with a central floorplate that covers 3000 sq ft, with the floor-to-ceiling ratio of 3.3m.

The Guoco Midtown project comprises the office tower as well as three retail clusters (Midtown Square, Midtown Market, and Midtown Common), and two condominiums.

In January, GuocoLand received the temporary occupation permit for the office tower. At the time the office tower was approximately 80% pre-committed. Publicis Groupe joins other international businesses at Guoco Midtown, such as the world’s largest shipping giant Pacific International Lines, Germany petrochemical giant BASF, Chinese Internet technology company NetEase Interactive Entertainment and Liechtenstein’s private bank VP Bank.

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