Last three floors at Solitaire on Cecil sold at $4,130 to $4,200 psf

The last three floors at Solitaire on Cecil, a freehold strata office development on Cecil Road, have been taken up. According to Savills Singapore, which brokered the sale of all three units, they were sold between April and July at prices ranging between $4,130 and $4,200 psf. Caveats lodged with URA Realis show that units on the ninth floor, with a total strata area of 12,465 sq ft, were sold for a total of $51.48 million ($4,130 psf) in April. The strata units on the eighth floor also fetched a total of $51.48 million ($4,130 psf), although a caveat was not lodged. Meanwhile, an entire floor of 13,132 sq ft on the 13th floor fetched $55.15 million ($4,200 psf), based on a caveat lodged in July. The sale of these last three units means that Solitaire on Cecil is now 100% sold, just 16 months after the development was first launched for sale in March 2023. Read also: 2Q2024 investment sales up 52.6% q-o-q, bolstered by government land sales: Savills Advertisement Advertisement Savills brokered sales for seven (47%) of the 15 office floors at Solitaire on Cecil, representing a combined deal value of about $371 million. This includes the single largest transaction within the development: The sale of three floors (Levels 17, 18 and 20) to a single buyer in April 2023 for $162.8 million. This works out to $4,325 psf across the strata area, which set a new record for the highest psf price achieved on an office transaction in Singapore. The Grade A office tower includes two F&B units on the first floor, sized at 936 sq ft each. The F&B units were sold for $5.054 million ($5,397 psf) and $8.178 million ($8,733 psf) each in April 2023, according to caveats lodged. Construction is still underway at the 20-story building, which is jointly developed by funds managed by TE Capital Partners and LaSalle Investment Management. It is expected to be completed by April 2028. Earlier this month, TE Capital Partners, LaSalle Investment Management and Metro Holdings launched for sale units at VisionCrest Orchard, a freehold strata-titled commercial development on 103 Penang Road. The 10-storey commercial block has 10 floors of offices and one floor of retail shops on the first level. The offices have a typical floor plate of about 14,500 sq ft. The sixth and ninth floors at VisionCrest Orchard were released for sale at $58.6 million ($3,980 psf) and $61.3 million ($4,130 psf), respectively. Savills Singapore, CBRE, ERA, JLL, Knight Frank, and PropNex have been appointed as the development's joint marketing agents. Read also: Three HDB shophouses and Peninsula Plaza office for sale at $15.55 mil Advertisement Advertisement