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Monday, March 3, 2008

Merchant Square office building for sale

SINGAPORE: CB Richard Ellis has launched office building Merchant Square (pix) for sale by public tender. The 99-year leasehold site, on the fringe of the CBD near the junction of Merchant Road and Clemenceau Avenue, comprises a 4-storey tower integrated with two blocks of conserved shophouses. There is a total net lettable area (NLA) of 50,262 sq ft. Land area is 28,000 sq ft. The guide price is S$73 million (RM167.6 million), or S$1,450 psf of NLA. Merchant Square is 96%-occupied with about 50% of current leases expiring over the next two years. The tender closes at 3pm on March 12.

By The Edge Singapore

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