TripleOne Somerset – in Somerset Road – is a prime integrated development with two premium-grade office towers and a retail podium next to Somerset MRT station.
A $120 million renovation is under way to enhance the retail offerings, incorporate medical suites, and spruce up the office lobby and common areas.
All of the seventh floor of Somerset Tower in TripleOne Somerset has been put up for sale for about $41.56 million via an expression of interest. The rare offering of an entire floor of 15 office units in the premium Orchard Road area is expected to attract keen interest from investors.
The indicative price translates to about $2,650 psf for the 15,683 sq ft space. The refurbishment work for the office space on the seventh floor will be completed in May.
TripleOne Somerset has a lease of 99 years, starting from Feb 19, 1975. Office tenants at the property include luxury fashion and lifestyle brands such as Gucci, Bottega Veneta, Samsonite and Bell & Ross.
The expression of interest exercise closes on April 7.