November 2014 Singapore Hong Kong The Office A review of the Singapore office market Demand still healthy Supply tightening Rents firming Index Page Centennial Tower 02 Super Savers: $3.00 - $5.00 psf Demand 03 Premium Office Space: $10.00 - $14.00 psf 04 Economy Range: $5.00 - $6.00 psf Rentals 05 Lower Mid-Range: $6.00 - $7.00+ psf Rental History 06 Mid-Range: $7.50 - $8.00 psf Supply / Market Forecast 07 Upper Mid-Range: $8.00 - $9.00 psf Useful Contacts 08 Rental Guide - Summary of Asking Rates Senior Rentals Team Corporate Locations (S) Pte Ltd License No. L3010044A T +65 6320 8355 / contact@corporatelocations.com.sg / www.corporatelocations.com.sg
SUPER SAVERS: Business / Commercial Space $3.00 - $5.00 psf 02 East up to $4.00 psf Qualification for Business Space Important Note: to qualify for business space, tenants must be involved with software development, research and development, datacenter management, design functions or customer support services. $3.50 - $3.70 psf* Units from 1,584 27,943 sq ft The Signature Changi Biz Park $4.00 psf* Units from 2,357 8,908 sq ft Honeywell Bldg Changi Biz Park $3.20 psf* Units from 1,130 52,743 sq ft Technopark@ Chai Chee $3.00 psf* Units from 1,807 12,165 sq ft Techpoint Ang Mo Kio Street 65 For industrial space a 60:40 ruling applies where 60% of the space must be used for industrial purposes and 40% can be used for offices. If in doubt checks should be made through the URA providing detailed information of your specific operations and use of the premises. Non-qualified users may be required to vacate the premise on immediate notice. Central up to $5.00 psf $4.70+ psf* $4.80+ psf* $5.00 psf* $3.50 psf* Units from 2,000 24,108 sq ft Units from 16,932 21,991 sq ft Units from 2,000 24,000 sq ft Units from 1,345-3,649 sq ft Aperia Kallang Avenue Hyflux Inno Ctre Bendemeer Rd 223@ Mountbatten Cyberhub@ Bendemeer Rd West up to $4.00 psf $4.00 psf* $3.90 psf* $4.00 psf* $4.00 psf* Units from 2,982 14,930 sq ft Units from 1,281 5,845 sq ft Units from 1,474 9,053 sq ft Units from 1,033 22,238 sq ft Alexandra Technopark Alexandra Road The Synergy International Business Park, Jurong Acer Building International Business Park, Jurong Creative IBP International Business Park, Jurong Demand The improved business sentiment and firming up of demand has led the Singapore office market to strengthen for six consecutive quarters. Many companies are bringing forward their expansion plans and more are seeking opportunities to upgrade their office space, having delayed such decisions until the global economic recovery took a firmer hold. Singapore is again being regarded the obvious choice as a regional HQ for South East Asia, now that the China market has become so large that it is considered a region in its own right. Hence global conglomerates like General Motors are moving their regional headquarters to Singapore. It is noticeable that demand for the new schemes has been gaining momentum, particularly those scheduled for completion around the end of this year. CapitaGreen has attracted several high profile tenants. Cargill Group was the first anchor tenant here, leasing over 50,000 sq ft. Then Swiss private bank Bordier & Cie followed, deciding to relocate from GB Building, and reinsurance provider Jardine Lloyd Thompson has chosen this scheme (35,000 sq ft) to consolidate from One Raffles Quay and Prudential Tower. The two most recent transactions concluded here are with law firm Jones Day, who will be relocating from nearby Samsung Hub, and SK Energy, relocating from SGX Centre. Leasing activity in South Beach is also increasing. Rabobank was the original tenant to secure space there of around 25,000 sq ft and we understand that international management consultants Bain & Co have agreed to lease some space there too. At the beginning of the year there was much speculation how the large swathes of space coming available in the secondary market as a result of some major relocations would affect rentals. The Singapore Stock Exchange was coming out of SGX Centre, Proctor & Gamble was coming out of Novena Square and Shell was coming out of Shell House/ UE Square. The outcome was evident soon enough. The insurance giant Aon leased 9 floors in SGX Centre (90,000 sq ft). The CPF Board are leasing 210,000 sq ft (the largest leasing deal this year) in Novena Square, Estée Lauder has taken a large amount of space in Shell House, relocating from 2HR on Havelock Road. Cont. on pg 3 Summary of Recent Leasing Transactions Tenant Moving to > Size sq ft Moving from CPF Board Novena Square > 210,000 CPF Building Cargill Group Capitagreen > 52,000 The Concourse Jardine Lloyd Thompson Capitagreen > 40,000 One Raffles Quay SK Energy Capitagreen > 20,000 SGX Centre Jones Day Capitagreen > 18,000 Samsung Hub Border & Cie Capitagreen > 12,000 GB Building Rabobank South Beach > 25,000 Robinson 77 Aon Insurance SGX Centre > 90,000 Mapletree Anson Estée Lauder Shell House / UE Square > 2HR Vodafone Asia Square T2 > 30,000 Suntec City/Straits Trading Bldg
Premium Office Space $10.00 - $14.00 psf 03 Top quality office tower on edge of Raffles Place Average floor size 22,000 sq ft New tenants include Cargill Group, Bordie & Cie, SK Energy and Jardine Lloyd Thompson $14.00 psf* Units from 1,800 17,530 sq ft MBFC Tower 3 Marina Bvld, New Downtown $13.00 psf* Units from 2,500 18,449 sq ft One Raffles Quay North Tower $13.50 psf* Units from 5,000 66,000 sq ft CapitaGreen 138 Market Street, Raffles Place $12.00 psf* Units from 2,000 21,711 sq ft Ocean Financial Centre Raffles Place $10.80 psf* Units from 1,000 8,000 sq ft Republic Plaza Raffles Place World Class Office Amentities include 5 star hotel, leisure centre, food court & link to MRT Average floor size 30,000-35,000 sq ft $10.80 - $11.50 psf* $12.50+ psf* Units from 1,345 11,688 sq ft One Raffles Place Tower 2 Units from 1,012 12,809 sq ft Centennial Tower Temasek Ave, Marina Bay $12.50 psf* Units from 1,894 6,400 sq ft Millennia Tower Temasek Ave, Marina Bay Demand (continued) $11.00+ psf* Units from 4,000 45,000 sq ft South Beach Tower Beach Road / City Hall $14.00+ psf* Units from 1,239 60,000 sq ft Asia Square Towers 1 & 2 Marina View, New Downtown In the new downtown area Vodafone has leased 30,000 sq ft in Asia Square Tower 2 and LinkedIn has leased two whole floors at MBFC Tower 2, in space given up by Barclays Bank. In Raffles Place activity has Summary of Recent Leasing Transactions been limited. Zenith Media leased 13,000 sq ft in Income@Raffles, MSCI/Risk Metrics moved from Wheelock Place to One Raffles Quay North Tower. Invesco has moved from 20 Collyer Quay to Republic Plaza. Tenant Moving to > Size sq ft Moving from LinkedIn MBFC Tower 2 > 36,000 AXA Tower Korn Ferry International Centennial Tower > 18,000 Suntec City L Oréal Singapore One George Street > 30,000 Winsland House MOL Ship Management CES Centre fka San Ctre > 20,000 2 HR OpenNet Technopark@ Chai Chee > 24,000 The Gateway DSM Nutritional Products Mapletree Biz City > 17,000 2HR Roche Diagnostics Aperia - Lavender > 40,000 Central Plaza Zenith Media Income@Raffles > 13,000 137 Telok Ayer Street Aptina Haw Par Centre > 11,500 Singapore Post Ctre CSC Computer Services UE Biz Hub Changi > 28,000 Twenty Anson Epic Shipping Central > 13,000 AXA Tower BGC Group has moved to Ocean Financial Centre. Compuware has moved into One Finlayson Green from Suntec City and People Profilers moved here from 4 Robinson Road. On the fringe of Raffles Place L Oréal Singapore has leased a whole floor at One George Street (30,000 sq ft) and Bakri Petroleum has moved here from PSA Building. In the Marina Bay area Suntec City still proves popular and new tenants here include Japan Tobacco International (from Winsland House), Acronis (from 78 Shenton Way) and Heliconia Capital Management (from Atrium@Orchard). Korn Ferry has moved from Suntec City to Centennial Tower. On the edge of the CBD, Aperia in Lavender has been one of the busiest new developments. New tenants here include Roche Diagnostics from Central Plaza (40,000 sq ft), Audi/ Volkswagon (from Great World City), Cardinal Health (from Fuji Xerox Towers) and Asiaphos (from Parkview Square). There is much buzz in the market about the sale of Equity Plaza, with the new owners planning to sell off much of the space on a strata title basis. All tenants have been given notice that their leases will be terminated in March 2015. Many have decided to find alternative premises which means over 250,000 sq ft of office space will be displaced from the market, either permanently or temporarily. Some tenants have already found new offices, for instance Obayashi has leased space in 79 Anson Road. Most of the other tenants are looking around the Raffles Place/ Robinson Road/ Tanjong Pagar areas which will have an effect on the vacancy rate for these areas before long. The fate of Prudential Tower is also not clear as this has just been sold recently as well to a local consortium, which may plan to sell off some floors and retain the rest.
Economy Range Office Space $5.00 - $6.00 psf 04 $5.50 psf* Units from 3,300 6,189 sq ft The Octagon Cecil Street $5.58 psf* Units from 1,146 20,000 sq ft MND Building Maxwell Road $6.00 psf* Units from 1,000 sq ft 11,763 sq ft Singapore Post Centre Paya Lebar $6.00 psf* $6.00 psf* Units from 2,007 12,443 sq ft Units from 2,000 27,000 sq ft $5.60 psf* Units from 1,295 20,000 sq ft ABI Plaza Keppel Road CES Centre (San Ctre) Chin Swee Road Nucleous Buona Vista $6.00+ psf* $5.80 psf* $6.00 psf* $6.00 psf* Units from 1,098 33,000 sq ft Units from 5,000 24,327 sq ft Units from 1,237 4,400 sq ft Units from 1,000 7,632 sq ft Westgate Tower Jurong East JEM Jurong East Hub Synergy Point Anson Road Keppel Towers Hoe Chiang Road Rentals Quoting rates for new downtown now around $15.00 - $16.00 per sq ft The new downtown area is the most expensive location in Singapore for office space, primarily because all the buildings in this area are new state-of-the-art world class office towers that includes Asia Square, Marina Bay Financial Centre and One Raffles Quay. Most of these new developments are now quoting $15.00 - $16.00 per sq ft and effective rates are around $14.00 per sq ft. Raffles Place continues to be the prime location, but many of the buildings here are slightly older with smaller floor plates, so effective rates are noticeably cheaper, by as much as $2.50 per sq ft, averaging in the region of $10.50 - $11.00 per sq ft. Effective rates in Raffles Place are at least $2.50 psf cheaper than new downtown The edge of Raffles Place and the Robinson Road/ Shenton Way area offer very good value for money, ranging from $7.50 to $9.00 per sq ft. The rates in Tanjong Pagar are even more attractive ranging from $6.00 to $8.50 per sq ft, but the quality and age of buildings in this area cover a wider range. Suntec City now ranges from $9.00 to $11.00 per sq ft The Marina Bay area including Suntec City, Millennia Tower and Centennial Tower has seen rates firm. Suntec City Towers, where three towers are in strata title ownership, has effective rates ranging from $9.00 to $11.00 per sq ft depending on the landlord, size and aspect. Centennial Tower and Millennia Tower have always commanded a slightly higher rate than their neighbor and effective rates here fall into the premium range of $12.00 - $13.00 per sq ft. Orchard Road usually sees less fluctuation in rates than other locations primarily because there has been very little in terms of new supply over the last 10 years, few buildings have been taken out of stock and the tenants in this district often seem settled here, with only limited movement taking place on a year by year basis. Rents range from $7.00 to $11.50 per sq ft with Wisma Atria being the most expensive at around $11.50 per sq ft. Beach Road continues to be one of the most competitive locations with rents ranging from $6.50 - $8.50 per sq sf. Edge of CBD rates range from $6.00 to $9.00 per sq ft Rents around the edge of the CBD cover a very wide range, with Novena Square being in the top end at around $9.00 per sq ft and UE Square and Great World City being in the mid-tier circa $7.00 and CES Centre (fka San Centre) in the economy range of around $6.00 per sq ft. Rents at Westgate and JEM in Jurong East are around $6.00 per sq ft There are some very good office schemes in decentralized locations at competitive rates particularly in the West, most notably Westgate and JEM in Jurong East where rents are around $6.00 per sq ft. Elsewhere in Buona Vista, Nucleos is very affordable at around $5.60 per sq ft and the premium scheme in this location is The Metropolis at around $7.50 - $8.00 per sq ft effective. Business park / commercial space and Singapore Science Park space still averages around $4.00 per sq ft. The Aperia in Lavender is one of the premium buildings in this category and rates are around $5.00 per sq ft.
Lower Mid-Range $6.00 - $7.00+ psf 05 $7.00+ psf* $7.00+ psf* Units from 2,271 32,000 sq ft Units from 1,095 5,184 sq ft 135 Cecil Street 137 Telok Ayer Street $6.50+ psf* Units from 10,000 21,516 sq ft $6.80 psf* Units from 1,270 4,037 sq ft $6.50+ psf Units from 15,822 sq ft Haw Par Centre Clemenceau Avenue Great World City Kim Eng Road Mapletree Business City Pasir Panjang $7.00 psf* Units from 2,000 19,548 sq ft UE Square River Valley Road $7.00 psf* $7.00+ psf* $6.50 psf* $6.90 psf* Units from 1,862 9,989 sq ft Units from 1,000-13,455 sq ft Units from 3,000 12,648 sq ft Units from 7,200 32,000 sq ft 78 Shenton Way Tanjong Pagar Fuji Xerox Towers Anson Rd, Tanjong Pagar Alexandra Point Alexandra Road 456 Alexandra Road (fka NOL Bldg) History of Average Prime Grade A Office Rents 3,750 Forecast 3,500 3,250 3,000 Global Financial Crisis $26 $24 $22 2,750 $20 STI Index 2,500 2,250 2,000 1,750 1,500 First Gulf War Asian Financial Crisis Dot Com Crash STI INDEX $18 $16 $14 $12 $10 Gross Rentals PSF 1,250 $8 1,000 $6 750 $4 500 $2 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Average Top Prime Grade A Office Rentals in Singapore Per sq ft per month
Mid-Range $7.50 - $8.00 psf 06 $7.50 psf* Units from 2,000 10,764 sq ft 79 Anson Road Tanjong Pagar $8.00 psf* Units from 1,155 15,844 sq ft Robinson Point Robinson Road $7.50+ psf* Units from 1,894 5,210 sq ft OUE Downtown 2 Shenton Way $8.00 psf* Units from 3,929 6,286 sq ft Robinson Centre Robinson Road $7.50+ psf* Units from 1,453-36,630 sq ft Robinson 77 Robinson Road $7.50 psf* Units from 1,119 50,000 sq ft The Concourse Beach Road, Lavender Brand new development outside CBD Top quality finishes, high specification Opposite MRT station $7.80+ psf* $8.00 psf* $7.50 psf* $7.50 psf* Units from 4,000 28,320 sq ft Units from 6,700 15,400 sq ft Units from 1,270 41,000 sq ft Units from 1,070 6,358 sq ft The Metropolis T1 & 2 Buona Vista Supply Parkview Square North Bridge Rd, Bugis 51 Cuppage Road Orchard The Gateway Beach Road, Bugis Market Forecast We already have technically full occupation with an overall vacancy rate below 5% This is an important section of our review because finding good supply over the next 12 months will become more difficult as the pockets of space that exist in many buildings are absorbed. We already have what is technically regarded as a full occupancy level, with an overall vacancy rate of less than 5% and the situation is unlikely to improve until 2016. The new supply delivered with the completion of CapitaGreen, South Beach and Westgate will help in the short term, but will not be enough to match an average annual absorption of 2 million sq ft. The demand / supply situation will become even more challenging with all the tenants in Equity Plaza and 2HR now needing to find new homes. Therefore, apart from looking at the new schemes, it will be important to look out for Future Developments buildings in the secondary market where anchor tenants are moving out. Buildings such as The Concourse should have ample space coming available next year with principal tenant Panasonic moving to their own building in Bedok and giving up around 60,000 sq ft and Cargill will be giving up several floors when they relocate to CapitaGreen. Consider buildings in secondary market such as The Concourse & Mapletree Anson Another building that should offer a good choice of quality space is Mapletree Anson after one of their main tenants, Aon Insurance, relocates to SGX Centre. Other buildings affected by major relocations and have the widest choice of space available include Robinson 77, AXA Tower, UE Square, and outside the CBD 456 Alexandra Road (fka NOL Building). Tenant Location Size Completion Date Capitagreen Raffles Place 700,000 sq ft December 2014 South Beach City Hall / Bugis 500,000 sq ft December 2014 Westgate Jurong 320,000 sq ft December 2014 Guoco Tower Tanjong Pagar 850,000 sq ft September 2016 Marine One New Downtown 1,875,00 sq ft September 2016 DUO Beach Road / Bugis 570,000 sq ft September 2016 Tenants looking at top Grade A space will compensate higher rates with greater efficiency We anticipate that demand for quality office space will remain healthy with technology and business services sectors continuing to be buoyant. More businesses are looking positively at their plans for expansion and/or an upgrade and requirements from across all sectors are evident. Most companies are still cost conscious and more are looking at decentralized locations if it is not vital for them to be in the core of the CBD. This is also due to the quality schemes now on offer in these locations improving dramatically. Others who are looking in the top end of the market will often try to compensate for the higher rentals by maximizing the efficiency of the space they secure. The tight supply situation until 2016 is certainly a concern. With buildings such as Equity Plaza and 2HR displacing their tenants, all of whom are likely to need to find new premises before 2016, this will subsequently lower vacancy rates even further with the knock on effect of increasing rental rates in most districts. Schemes like CapitaGreen and South Beach are perfectly timed to match demand between now and later in 2016. Rates at the top premium schemes are now reasonably full, having risen from $12.00 to $14.00 per sq ft in the last few years, so there may be resistance to any further significant increase in the medium term. Expect rates in the mid-tier sector to advance by 8-10% over the next 12 months The mid-tier market is where the majority of space can be found but this is exactly where supply will be contracting most. We expect rates in this sector to rise by 8-10% over the next 12 months. The economy range has so little supply now that rates in this sector could firm by at least 10% in the next year.
Upper Mid-Range $8.00 - $9.00 psf 07 $9.00 psf* Units from 1,216 8,063 sq ft Anson House Anson Road $8.50 psf* Units from 5,091 19,666 sq ft 71 Robinson Road $8.50 psf* Units from 4,000 40,000 sq ft Mapletree Anson Anson Road $9.00 psf* Units from 1,100 3,229 sq ft Chevron House Raffles Place $9.00 psf* Units from 1,044 8,880 sq ft Income @ Raffles Raffles Place $8.50 psf* Units from 1,668 30,000 sq ft AXA Tower Anson Road $8.50+ psf* Units from 3,100 15,134 sq ft PWC Building Cross Street $9.00 - $10.50 psf* Units from 1,000 12,023 sq ft Suntec City Twrs 1-4 Marina Boulevard $8.50 psf* Units from 2,750 20,419 sq ft Keppel Bay Towers Harbourfront Landmark development, opposite new downtown area. Average floor plate 10,000 sq ft $8.50 psf Units from 1,500-20,000 sq ft SGX Centre Towers 1 & 2 Shenton Way Useful Contacts for Tenants Interior Designers Ai Associates Contact: Jeff Choo, T 9875 1825 jeffc@ai-associates.com www.ai-associates.com Chez Design Contact: Melvyn See, T 9616 1858 melvyn@chezdesign.com.sg www.chezdesign.com.sg ID Inc Contact: Jeffrey Chong, T 6383 0622 jeffrey@idinc.com.sg www.idinc.com.sg Idstudioworks Pte Ltd Contact: Vincent Wong, T 9387 3318 vincent@idstudioworks.com www.idstudioworks.com M.Moser Associates Contact: Nicholas Schifferle, T 9451 8132 nicholass@mmoser.com www.mmoser.com Sennex Consultants Contact: Nick Jones, T 8168 7988 nick@sennexconsultants.com www.sennexconsultants.com Renovation Contractors Pratt Design and Space Planning Contact: Tony Tan, T 9694 6716 tony@prattdesign.com.sg www.prattdesign.com.sg MKS Global Contact: Michael Wu, T 9388 8022 mksewu@singnet.com.sg www.mksingapore.com.sg Office System Furniture Suppliers BW Furniture Contact: Charlie Brazier, T 6339 2285 charlie@bwfurniture.com www.bwfurniture.com C&R Interiors Contact: Mr Chong Sun Song, T 9638 8310 ssc@cnrinteriors.com.sg www.cnrinteriors.com.sg Steelcase Contact: Caslin Liu, T 9431 3078 caslin.liu@steelcase.com / www.steelcase.asia Telecommunications and System Integration First Aurora Contact: Greg Parkhurst, T 9633 3057 greg@firstaurora.com / www.firstaurora.com Office Movers Crown Worldwide Contact: Andrew Soon, T 9820 7247 asoon@crownwrelo.com / www.crownworldwide.com Four Winds International Contact: Jasmin Tan, T 6777 1166 jasmine.tan@agsfourwinds.com www.agsfourwinds.com K.C. Dat Contact: Desmond Lim, T 9459 0606 desmond.lim@asiantigers-singapore.com www.kcdat.com.sg
Rental Guide - Summary of Asking Rates Raffles Place / Marina Bay Tanjong Pagar Edge of CBD 6 Battery Road $9.50/$15.00 20 Collyer Quay $12.00 - $14.00 55 Market Street $8.50 Asia Square Tower 1 $18.00 Asia Square Tower 2 $18.00 Bank of China Building $8.50 Bharat Building $8.00 Bank of Singapore Centre $10.50 Chevron House $9.50 Clifford Centre $8.50 Income@Raffles $9.50 Maybank Tower MBFC Tower 1, 2 & 3 OCBC Centre $9.50+ OCBC Centre East $9.80 Ocean Financial Centre $15.00 One Finlayson Green $8.50 One George Street One Marina Boulevard One Raffles Place Tower 1 $11.00 - $13.50 One Raffles Place Tower 2 $10.50 - $13.50 One Raffles Quay North Tower $15.00 OUE Bayfront $16.00 RB Capital Building Republic Plaza 1 $11.00 - $13.00 Republic Plaza 2 Royal Group Building Royal One Phillip $10.00 Singapore Land Tower $11.00 Straits Trading Building $10.00 The Arcade UOB Plaza 1 UOB Plaza 2 Robinson Road / Shenton Way 4 Robinson Road $7.50 6 Raffles Quay $8.50 60 Robinson Road 71 Robinson Road $9.00 80 Robinson Road $8.50 120 Robinson Road $8.00 135 Cecil Street $8.00 137 Telok Ayer Street $7.50 146 Robinson Road $5.50 150 Cecil Street $5.80 - $6.50 158 Cecil Street $8.80 AIA Tower ASO Building Bangkok Bank Building CapitaGreen Capital Square $11.00 Capital Tower Cecil Court $6.50 China Square Central $9.50 City House $7.80 - $8.50 CPF Building Far East Finance Building Far Eastern Bank Building $6.50 Finexis Building GB Building $7.00 Grace Global Raffles Great Eastern Centre Hong Leong Building $9.50 Keck Seng Tower $7.00 - $7.50 PIL Building PWC Building $9.50 Prudential Tower Robinson 77 $8.50 Robinson 112 $7.50 Robinson Centre $8.50 Robinson Point $8.50 Samsung Hub $9.50 SGX Centre $9.00 SIF Building Shenton House The Globe The Octagon $6.00 - $6.50 Tokio Marine Centre $8.50 Tong Eng Building Orchard Road / Dhoby Ghaut 50 Scotts Road 51 Cuppage Road $8.50+ 182 Clemenceau Ave $7.50 Albert Complex Burlington Square Faber House $9.50 Fortune Centre Forum Goldbell Towers $9.50 Haw Par Centre $7.00 Haw Par Glass Tower International Building $8.50 Liat Towers $10.00 Manulife Centre $8.80 Ngee Ann City $12.00 Orchard Building Palais Renaissance $9.50 Park Mall $7.80 Regency House $8.00 Shaw Centre $8.00 Shaw House $9.00 Singapore Pools Building Sunshine Plaza $7.00 Tanglin Shopping Centre $6.50 The Atrium@Orchard The Bencoolen $7.00 The Heeren $12.00 The Paragon Thong Teck Building $7.00 Tong Building $8.00 TripleOne Somerset $9.50+ VisionCrest Commercial $11.00 Wheelock Place Wilkie Edge $9.30 Winsland House 1 & 2 $13.00 Wisma Atria $12.00 78 Shenton Way $7.80 79 Anson Road $8.00 ABI Plaza $6.50 Amara Corporate Tower $10.00 Anson Centre Anson House $9.50 AXA Tower $9.50 Fuji Xerox Towers $7.50 - $8.50 Hub Synergy Point $5.80 International Plaza $6.50 - $7.50 Jit Poh Building Keppel Towers $7.00 Mapletree Anson $9.00 MAS Building St. Andrew s Centre Southpoint Springleaf Tower $8.00 - $8.50 Tower Fifteen $7.50 Twenty Anson $9.50 City Hall / Marina Centre / Beach Road 11 Beach Road 30 Hill Street 67 High Street Bugis Junction Towers Centennial Tower $13.80 Millenia Tower $13.80 Odeon Tower $9.50 One Raffles Link Parkview Square $8.50 Peninsula Plaza $6.50 Raffles City Tower Shaw Tower $6.40 - $6.70 South Beach Tower Stamford Court $8.00 Suntec Towers 1-3 $9.00 - $12.00 Suntec Towers 4-5 $10.00 - $12.00 The Adelphi $7.20 The Concourse $8.00 The Gateway East and West $7.80 Chinatown / River Valley Road Central $9.80 Central Mall Chinatown Point $6.00 - $6.50 Great World City East $7.50 Great World City West $7.50 King s Centre $7.00 Royal Merukh S.E.A. Building Shell House $7.50 Valley Point Alfa Centre $7.00 Boon Siew Building Central Plaza $7.50 Goldhill Plaza Newton 200 Novena Square A $9.50 Novena Square B Rex House SLF Building The Metropolis Tower 1 & 2 $8.50 United Square $9.00 West / Others Alexandra Point $7.50 Alexandra Techno Park* $4.50 Harbourfront Centre $7.20 - $7.80 Harbourfront Tower 1 $7.80 Harbourfront Tower 2 $6.20 - $7.50 Harbour Link International Business Park (Jurong)* $4.50 JEM $6.20 Keppel Bay Tower $9.00 Mapletree Business City* $6.80 New Tech Park* Pacific Tech Centre* $3.55 PSA Building $7.50 - $8.00 PSA Vista $4.80 Singaporepore Science Park I, II & III* $4.50 Sime Darby Business Centre* Tech Point* $3.20 The Signature* $3.70 - $4.00 UE BizHub East* $4.50 Westgate $6.50 - $6.90 East Abacus Plaza $5.50 AIA Tampines Changi Business Park* $4.50 Cisco Centre II CPF Tampines Building KA Centre* $3.20 KA Place* NTUC Tampines Junction $5.80 NTUC Tampines Point $5.50 Parkway Parade Singapore Post Centre $6.50 Tampines Concourse $5.50 Tampines Grande $6.20 Tampines Plaza $5.50 Techlink* $3.20 Technopark@Chai Chee* $3.50 Tech View* $3.20 * Light industrial space All rents quoted are asking rental rates and subject to change without prior notice Contact Our Senior Team Members Douglas Dunkerley Director CEA Reg No. R030779G T +65 6391 5200 ddunkerley@corporatelocations.com.sg Edmund Goh Director CEA Reg No. R030777J T +65 6391 5201 edmundgoh@corporatelocations.com.sg Darren Ng Senior Manager CEA Reg No. R022103E T +65 6391 5209 darrenng@corporatelocations.com.sg Ellynn Yap Sr. Marketing Executive CEA Reg No. R050491F T +65 6391 5212 ellynnyap@corporatelocations.com.sg John Lee Sr. Marketing Executive CEA Reg No. R016701D T +65 6391 5211 johnlee@corporatelocations.com.sg Finding Office Space For You, With You 100 Beach Road, #17-07 Shaw Tower, Singapore 189702 T +65 6320 8355 www.corporatelocations.com.sg Disclaimer The information in this publication should be regarded as a general guide only. Whilst every care is taken in it preparation, no representation is made or responsibility accepted for its accuracy or completeness. The rentals mentioned are neither asking rentals nor rentals agreed by property owners, but only represent the writers views on estimated rentals and is intended as reference only.