60% of PS100 buyers are S'poreans, PRs

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http://www.straitstimes.com/Money/St...ry_773801.html

60% of PS100 buyers are S'poreans, PRs

Published on Mar 5, 2012


SINGAPOREANS and permanent residents made up 60 per cent of the buyers of Far East Organization's strata office development PS100, at Tanjong Pagar.

The development, which is the first under Far East's dedicated business SOHO brand, saw all its 100 units sold out after sales started over the weekend.

Prices for the strata office units, which range in size from 420 to 517 sq ft, average $3,000 per square foot.

Corporate buyers accounted for another 20 per cent. The businessmen came from various sectors including shipping/logistics, investment, trading, business consultancy, and professional services.

PS100 is part of an integrated hotel-office development, occupying levels 7 to 11 of the upcoming Oasia Downtown, a 27-storey business hotel.

A buyer, Mr Tham, who bought two units - one to rent out and the other for his own use - said: 'The Marina Bay area is going to see more development so this is a good chance to come in early before prices rise.'

A recent Colliers International study noted that occupancy levels of such strata office spaces located in the central area was estimated at 91.7 per cent as of February.

A plus for tenants is the professional concierge services offered at the integrated hotel, and the use of its meeting rooms and business centre for a nominal fee.

Each office unit comes with 5m high ceilings, a kitchenette and attached bathroom, and dedicated air-conditioning unit.

[reporter2]

http://www.businesstimes.com.sg/sub/...77540,00.html?

Published March 5, 2012

Far East's PS100 office units snapped up


(SINGAPORE) All 100 office units at Far East Organization's hotel-cum-office development PS100 were snapped up during its launch over the weekend, the property firm said yesterday.

Prices of the strata office units, which range in size from 420 to 517 square feet, averaged $3,000 per square foot.

Singaporeans and permanent residents made up 60 per cent of the buyers, while corporate buyers accounted for another 20 per cent, Far East said.

Most of the buyers were entrepreneurs and businessmen from various sectors ranging from shipping and logistics to business consultancy, it added.

The 27-storey tower is on Peck Seah Street, which is near the Tanjong Pagar MRT Station.

The office units are located on five levels - from the seventh floor to the eleventh floor - with the remaining floors and space allocated to the 314-room Oasia Downtown Hotel.

At this mixed-use development, owners and tenants will get access to business facilities such as the professional concierge services offered at the hotel, as well as the use of its meeting rooms and business centre for a nominal fee, Far East said.

The strata offices - or office space that comes with ownership rights - will have a floor-to-floor height of about five metres. This is higher than the 3-3.5 metres for typical offices.

This is Far East's third SOHO development, its first dedicated business SOHO project.

The estimated temporary occupation period for PS100/Oasia Downtown is end 2014.