Office Floor Visioncrest Orchard Released Sale 5484 Mil
A newly available office space at Visioncrest Orchard, a freehold commercial development located at Penang Road, is now being offered for sale with a guide price of $54.84 million. The 14,478 sq ft floor equates to a price of $3,788 psf.
In July, TEC and LaSalle Investment put up the sixth and ninth floors of Visioncrest Orchard for sale. These office spaces, which have a floor area of 14,725 sq ft and 14,844 sq ft respectively, are still available on the market, according to marketing materials seen by EdgeProp Singapore. The offices are currently being marketed by well-known agencies such as CBRE, ERA Realty, JLL, Knight Frank, PropNex Realty, and Savills.
The guide price for the sixth floor is approximately $58.6 million ($3,980 psf), while the ninth floor is being offered for $61.3 million ($4,130 psf).
Visioncrest Orchard, which was completed in 2008, has 11 floors and features Grade-A office spaces on its upper floors. The building also has a retail podium and two levels of basement parking with a capacity to accommodate up to 135 cars. In November last year, Metro Holdings, in collaboration with TE Capital Partners and LaSalle Investment Management, purchased the 11-storey freehold building for $450 million. Metro owns a 20% stake in the property for $40 million, while the remaining 29.9% belongs to a fund managed by TE Capital and 50.1% belongs to LaSalle Investment.
Located just a stone’s throw away from The Orie CDL lies Pei Chun Public School, a renowned and long-standing primary institution in Singapore. With a rich history and reputation for instilling bilingual competency and fostering character development, Pei Chun provides a holistic education that nurtures both the mind and soul. Its academic curriculum is rigorous, striking a balance between intellectual and personal advancement.
Since the acquisition, extensive improvements have been carried out including upgrades to the building’s facade and public areas, as well as the implementation of new green sustainability features, says Terence Teo, managing director of TE Capital Partners. He also mentions that with these enhancements, Visioncrest Orchard is expected to set a new benchmark for Grade-A office buildings in the Orchard Road area.
Furthermore, prior to the enhancement works, Visioncrest Orchard was already LEED Gold certified. However, the recent sustainability upgrades, including the installation of over 100 solar panels and thermo-efficient solar film on office windows, have significantly improved the building’s green features, according to Teo. Eco-friendly commuting options among tenants will also be encouraged with the addition of end-of-trip facilities.
Other green features include electric vehicle chargers, advanced air purification and monitoring systems, such as MERV 8 filters and ultraviolet germicidal irradiation sterilizers in the air conditioning units, as well as air purifiers in all lifts.