BRILLIANCE CAPITAL ANNOUNCES SALE OF PRIME OFFICE UNITS AT SAMSUNG HUB AND THE ADELPHI
SINGAPORE, July 3, 2024 /PRNewswire/ -- Brilliance Capital is pleased to announce the sale of prime office units at two prestigious development: Samsung Hub and The Adelphi. These properties offer exceptional opportunities for investors and businesses looking to establish a presence in Singapore's most sought-after commercial areas.
Samsung Hub:
Samsung Hub is considered as one of the most coveted office spaces in Singapore that available for strata purchase that comes with a 999-year tenure and is an impressive 30-storey commercial development situated prominently in Singapore's Central Business District. This iconic tower features a sleek, modern design and is renowned for its strategic location, commanding main road frontages along Church Street and Telok Ayer Street. As a focal point of the CBD, Samsung Hub is equidistant from key areas such as the Orchard Road Shopping Belt and the Bugis-Rochor burgeoning arts, cultural, and rejuvenated business district. The development enjoys excellent connectivity, with a fully sheltered route linking to Raffles Place MRT Interchange Station.
Strategically located in the heart of the bustling financial district, Samsung Hub offers unparalleled access to major financial institutions, corporate headquarters, and a diverse array of dining and retail options. The office floors are occupied by a broad spectrum of businesses, including multinational corporations, financial service firms, legal practices, and technology companies, making it a dynamic hub for commercial activity.
The prime location of Samsung Hub places it within proximity to several prominent landmarks and amenities. The development is adjacent to premier shopping and recreation destinations such as Marina Bay Sands, The Shoppes at Marina Bay Sands, One Raffles Place, and Lau Pa Sat Festival Market. This vibrant neighborhood is further enriched by upscale hotels like The Fullerton Hotel, The Westin Singapore, and the Ascott Raffles Place.
Located on the high zone floors at Samsung Hub, this 3,595 square feet office unit is sold with existing tenancy and available on a private treaty basis, with a guide price of S$4,350 per square foot.
The unit on the high floor offers scenic views of the cityscape, providing an inspiring environment for businesses to thrive. The office space features a column-free, regular layout designed to maximize efficiency and functionality.
The Adelphi:
Brilliance Capital is also pleased to offer two adjoining commercial strata office units on the top floor of The Adelphi. Situated at the corner of North Bridge Road and Coleman Street, this mixed-use development enjoys a prime location between Singapore's Central Business District, Orchard Shopping Belt, and Bugis.
The Adelphi is an iconic 10-storey mixed-use development comprising a five-storey retail podium with a six-storey office block. It is located in the heart of the Civic District and within the Business and Financial Centre of Singapore, as well as the burgeoning Arts, Cultural, and Rejuvenated District. The office floors are characterized by occupiers in a diverse range of businesses, including corporate offices, law firms, corporate secretarial companies, among many others.
The advantageous location of The Adelphi places it in proximity to several prominent shopping and recreation destinations. Funan, Raffles City, CHIJMES, Singapore Cricket Club, and Singapore Recreation Club contribute to a vibrant and lively neighborhood. This is further enriched by the presence of educational institutions and upscale hotels such as Singapore Management University (SMU), Kempinski Hotel, Swissotel The Stamford, and Fairmont Hotel.
Enjoying the benefits of a prime location in a bustling commercial district, The Adelphi offers a dynamic blend of commercial, cultural, and hospitality offerings, ensuring high visibility and footfall for businesses within the retail quadrant, easily accessible to both locals and tourists.
The City Hall area, where The Adelphi is located, holds significant historical importance and is a vibrant district for finance, accounting, and legal professionals. The development enjoys excellent connectivity, including a sheltered route linking to City Hall MRT Interchange Station, a taxi stand at its doorstep, and nearby bus stops. The building also provides ample parking with 382 carpark lots available for its occupants and visitors.
The two subject units, approximately 2,034 square feet and 2,852 square feet, combine to form a contiguous space of approximately 4,887 square feet. They feature ample natural light, expansive views of St Andrew's Cathedral and North Bridge Road, a reception area, open office space, partitioned offices, conference rooms, a pantry area, discussion areas and storage space. The combined guide price for these units is S$14.4 million, translating to approximately S$2,950 psf. These units are available for sale individually or collectively.
Ms. Sammi Lim, Founder and Executive Director of Brilliance Capital Pte Ltd, commented, "Samsung Hub has always been an extremely sought-after office asset where demand exceeds supply. The ownership and tenant profiles are unparalleled, making it the ideal choice for businesses seeking a prestigious address with strong neighbours. We have also witnessed significant capital appreciation of sale prices over the past 10 years, and this is expected to continue for a scarce commodity that offers a 999-year tenure, which is akin to freehold. This property represents an exceptional opportunity for companies looking to establish or expand their presence in Singapore's most dynamic commercial hub."
Ms. Lim further added, "The offering of two adjoining corner units at The Adelphi is particularly compelling in today's market. Also featuring a 999-year tenure and a strategic location, these units benefit from superb public transportation links. We anticipate strong interest from both investors and owner-occupiers. This is an excellent opportunity for owner-occupiers to acquire an ideally sized office asset in a highly sought-after location."
This presents an enticing investment opportunity for forward-thinking investors. The individual strata titles at The Adelphi offer flexibility for buyers to sell on a piecemeal basis or lease to multiple tenants. In the medium to long term, there may also be potential for a collective sale exit. We expect keen interest from owner-occupiers, discerning small businesses, private wealth entities, and family offices focused on long-term wealth preservation. The pricing is attractive given the location and 999-year tenure, especially considering the tight supply conditions in the commercial strata office CBD market. Real estate continues to be a reliable hedge against inflation, drawing buyers from both local and overseas wealth markets.
With the limited availability of quality freehold and 999-year office properties, along with the convenient accessibility offered by both The Adelphi and Samsung Hub, we foresee robust potential for capital and rental appreciation. Wealthy individuals, family offices, and corporate investors remain actively engaged in acquiring strata commercial floors. Last year, TE Capital Partners and LaSalle Investment Management achieved record-breaking prices with their sold-out project at Solitaire on Cecil, and PGIM Real Estate recently sold two office floors at 108 Robinson Road."
As a commercial property, both local and foreign buyers are eligible to purchase with no additional buyers' stamp duty (ABSD) or sellers' stamp duty (SSD) payable.
Brilliance Capital is the sole marketing agent for this sale.
About Brilliance Capital Pte. Ltd.
Brilliance Capital is a boutique real estate consultancy that provides advisory and agency services covering commercial and industrial investments, residential sales, and leasing services of all asset classes. Brilliance Capital is the brainchild of Sammi Lim – an extension of herself and her dedication in helping clients buy, sell, lease their properties, especially for corporates, institutional funds, ultra-high net worth individuals and private family funds that aim to diversify into real-estate investments.
SOURCE Brilliance Capital
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