Training centre space at Paya Lebar Square up for sale at S$6.1m

A TRAINING centre space in Paya Lebar Square has been placed on the market by private treaty with an asking price of S$6.1 million, Knight Frank Singapore said on Tuesday.

That works out to about S$2,276 per square foot (psf), based on a total floor area of 2,680 square feet. 

Comprising two adjoining units, the fully fitted training centre, which is used to conduct classes for working adults, can be converted to a corporate office with meeting rooms and agile-working spaces, Knight Frank noted. 

Paya Lebar Square, which was completed in 2014, is a commercial development consisting of a 10-storey office tower and a three-level retail podium.

It is linked directly to Paya Lebar MRT Interchange, covering the East-West Line and Circle Line.

Integrated developments in the vicinity include Paya Lebar Quarter and SingPost Centre. 

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"While the offices in both buildings are wholly held by the developer for lease only, offices in Paya Lebar Square are strata-titled and have transacted in the range of S$1,800 psf to S$2,000 psf in the recent months by various owners," Knight Frank added. 

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, said: "As safe distancing and work-from-home measures take place in light of current circumstances, smaller offices in suburban areas with good transport connectivity will appeal to companies looking to downsize as a cost-saving measure, or have satellite offices as part of business continuity plans after the two-month 'circuit-breaker' period."