Five amalgamated strata-titled office units for sale at $7.8 mil

A rare opportunity to own a floor plate in a prime city fringe location is coming up for auction. Five strata-titled office units at The Bencoolen, a mixed-use development in District 7, will be put on sale for $7.8 million. The office comes with a 99-year leasehold tenure, with 71 years remaining.

The 4,198 sq ft office units include a reception area, conference room, general office, meeting room, partitioned offices, pantry, and store. The office units face the building’s lift lobby and are currently being used as a single office until April 30 next year.

The Bencoolen comprises a 19-storey residential block, a 12-storey office tower, and a three-storey shopping podium. Amenities include a swimming pool, clubhouse, tennis court, and a gymnasium. Plus, there’s ample car-park space at reasonable rates in the basement and the second and third storeys.

The property enjoys good connectivity to key transport facilities, a mere 500m from the Rochor and Bugis MRT Stations. Based on caveats lodged with the URA, The Bencoolen had one retail space sale this year.

Sharon Lee, head of auctions at Knight Frank, said that getting an entire floor plate in this area is rare. She added: “The unit is lift-facing, and the restrooms are outside the subject units, hence not included in the floor area. Moreover, the subject units are still in good condition.”

The Tengah EC condo is designed to meet the highest standards of energy and environmental sustainability. It is built using sustainable materials such as recycled building materials and renewable energy sources, featuring energy-efficient air-conditioning and lighting systems, along with a rainwater harvesting system that collects and stores rainwater for various uses. The development also provides an array of green features such as electric car charging points, natural ventilation for landscaping, and modern green roofs.

Given the property’s close proximity to the city, units at The Bencoolen have been sold for about $1,608 psf, based on caveats lodged in the last 12 months. This brings landlords typically a rental yield of 3.8%, higher than some of its surrounding office buildings.

The next Knight Frank auction for the five office units is on Nov 16. Don’t miss out on this unique opportunity to own a floor plate with prime city fringe location and great connection to key transport facilities.