Three Strata Offices at Fu Lu Shou Complex In the Market for Sale

Three strata office units at Fu Lu Shou Complex near to Bugis have been launched for sale at around $1,400 psf and the quantum is around $7.2M, announced CBRE. The market agent for the project is CBRE and it is understood that there are the exclusive agent for the project. Fu Lu Shou Complex is an iconic shopping centre in Singapore and is located at Rocher Road with the 1st floor as a retail and commercial outlets together with the basement and the 3rd floor of the development. The units on the 5th floor are bigger and is around 2000 plus square feet. Fu Lu Shou complex is located near to Midtown Gardens location. Please see the map here for more information.
Based on analayst estimate, the prices for the office units are very attractive given that Bugis is a mature area and Fu Lu Shou Complex is located near to Tan Quee Lan Street. Also, there is a backlog of demand for office units around the Bugis area as there has not been a office of this size that is available since 2006 to 2018. It is noted that keen interest should be seen for businessman who are looking for a office space in this mature area and since office rents are very volatile, the target market will be mature business owners who are looking for a space to conduct their business to hedge against business volatility. The buyers should be end users who are using the space to conduct the business rather than reselling it for a profit.
Foreigners and locals are eligible to purchase the three units without the imposition of aditional buyer’s stamp duty or seller’s stamp duty. This is because offices are not subjected to ABSD like residential properties and therefore this would look attractive for current residential property owners.
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