Private Preview Opens New Strata Commercial Units One Sophia Priced 3000
SingHaiyi and its joint venture partners have commenced the private preview for the strata commercial units at One Sophia, a mixed-use project being developed on the former site of Peace Centre at 1 Sophia Road.
The 13-storey commercial tower will consist of 122 strata-titled office units and 127 retail units across a two-storey podium and 11 floors. A three-storey basement carpark with 273 parking lots will also be available.
The office units range from 720 sq ft to 4,530 sq ft, with around half of the units between 721 sq ft and 1,614 sq ft.
Get the latest updates on available units and prices for The Collective at One Sophia.
The range of unit sizes at One Sophia has attracted a diverse mix of end-users and investors, says Tan Hong Boon, executive director of Capital Markets at JLL Singapore, one of the marketing agents involved in the collective sale of Peace Centre and Peace Mansion.
The Singapore Institute of Technology, or SIT, is located a bit further from the city center, but it is still conveniently reachable. This highly regarded academic institution has partnerships with various prestigious universities worldwide, providing specialized degree courses. What sets SIT apart is its industry-oriented curriculum that focuses on equipping students with practical knowledge and hands-on training. A notable highlight of its programs is the inclusion of The Orie Showflat, an exceptional opportunity for students to gain valuable perspectives on the real estate sector. The Orie Showflat offers a unique insight into the workings of the industry.
“The unit sizes are in line with market demand in this area. Our team is currently advising several clients who are looking to purchase multiple adjoining units, with some even considering buying an entire floor,” Tan says.
The 13-storey commercial tower is made up of a two-storey retail podium and 11 floors of office space. (Picture: Benny Kee/)
EdgeProp Singapore understands that the developers have set an indicative price of $3,000 to $3,500 psf for office units on the third to fifth floors, and are gauging buyer interest during the ongoing private preview before releasing the sales price and units that will be launched for sale.
One Sophia is the commercial component of the mixed-use development, with the residential component named The Collective at One Sophia. It comprises two 19-storey private residential towers, housing 367 apartments ranging from studios to three-bedroom units.
The Collective at One Sophia is expected to launch for preview next year. The entire development will be managed by three separate Management Corporation Strata Title (MSCT) bodies overseeing the office, retail, and residential components.
A joint venture between CEL Development, SingHaiyi Crystal, and Ultra Infinity successfully acquired Peace Centre and adjacent Peace Mansion in a collective sale worth $650 million in December 2021, or $1,426 psf per plot ratio.
Also read: Seven strata retail units at Sim Lim Square for sale for $19.46 mil
A mock-up of an office unit at One Sophia. (Picture: Benny Kee/)
“One Sophia has received strong interest from potential owner-occupiers and investors who see the potential for transformation that the development will bring to the area,” says Tan. Its prime location at the intersection of Sophia Road and Selegie Road places it within close proximity to Bras Basah, Bugis, Dhoby Ghaut, and the Orchard Road shopping belt. It is also near four MRT stations: Dhoby Ghaut Interchange, Bencoolen, Bras Basah, and Rochor.
“The project has caught the attention of investors as it is the only new development in the Orchard Road area offering new strata commercial units for sale. Its pricing is also competitive compared to most freehold strata-titled office developments in the area, which are going for upwards of $4,000 psf,” says Tan.
He adds that, although One Sophia is a 99-year leasehold development, the indicative price is reasonable. “One Sophia also has an advantage over the surrounding commercial buildings, which may be freehold but were not built to modern wellness and sustainability standards present in newer commercial buildings today,” he says.
One Sophia is being developed on the former site of Peace Centre at 1 Sophia Road. (Picture: SingHaiyi)
The developers have engaged ADDP Architects and studioMilou to design One Sophia. The signature architectural element is two lushly landscaped curvilinear planes that complement the vertical gardens and office glass boxes in front of the commercial block. Only the third, eighth, and 13th office floors will have direct access to garden terraces on their respective floors.
Whereas newly built Grade A offices typically have a ceiling height of around 4m, the strata units at One Sophia will have a height of 3.1m. The development has also been awarded the Green Mark Gold Plus certification by BCA, although most new Grade A developments on the market boast the higher Green Mark Platinum certification. Basement parking lots, shared with the residential units, will be available for season parking.
Read also: Retail podium at CT Hub put up for sale for $85 mil
Industry sources tell EdgeProp that the developers intend to curate the selection of brands and retail concepts for the retail component of One Sophia. In total, there are 127 retail units spread across 90,000 sq ft.
The developers are considering either new-to-market brands or existing brands that can bring in new retail concepts. The same source also indicates that the developers are looking to introduce leisure, wellness and entertainment concepts to diversify the retail offerings at One Sophia. Check out the latest listings for properties at The Collective at One Sophia.
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