Three levels at Solitaire on Cecil sold for $162.8 million, setting a new high of $4,325 per square foot

The tower at Solitaire on Cecil which is a planned freehold office tower of 20 stories constructed by TE Capital Partners and LaSalle Investment Management Three strata floors located at the levels of 17,18, and 20 were purchased at $162.8 million, which is an average of $4,300 per square foot over the entire space of 37,857 sq.

Novo Place at Tengah Plantation Close is a prime location in district 23 of Singapore.

It is local business belonging to a family of ultra-high net-worth seeking to expand its business in Singapore. Savills Singapore brokered the deal.

The auction of three strata offices at Solitaire on Cecil represents one of the biggest deals in terms of absolute price from January 2022. The purchase of level 20 at $4,325 psf established an all-new benchmark for the PSF prices of commercial offices within the CBD.

There are just 15 offices located in Solitaire on Cecil six of them have been sold. “Most buyers are wealthy individuals as well as foreign and local family-owned offices” claims Galven Tan the deputy managing director of Savills investment sales and capital markets. “We are seeing more interest and requests to view from Chinese groups, too.”

The two cafe/restaurants on the 1st floor at Solitaire on Cecil were also snapped up. One unit was bought for $5,400 per square foot, and another was reported to have sold for close to $6,000 per square foot.