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News - Detailed News Story

BASF selling five office floors at Suntec Tower One for S$129.3m

15 Dec 2016 09:00

By Kalpana Rashiwala

FIVE office floors in Suntec Tower One are changing hands for a total sum of S$129.3 million, which works out to S$2,400 per square foot on strata area of 53,863 sq ft, based on caveats data.

The five floors - Levels 24, 25, 34, 35 and 36 - are being sold by BASF South East Asia, a part of German chemicals giant BASF, which currently occupies the space.

The floors are being bought by companies which are believed to be linked to the Singapore-based ARA group. Suntec City is on a site with a balance lease term of around 71 years.

BASF - which is involved in a broad range of areas from chemicals, plastics, performance products and crop protection products to oil and gas - is expected to lease back at least some of the space it is selling.

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Source: Business Times

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