Suntec Tower One Office Unit at S$2,400 psf, Softest Since 2023 — Eight-Lot Bulk Sale at One@Redhill

Singapore’s commercial and industrial caveat tape ran at two speeds this week. Across 56 caveats captured in this week’s URA REALIS releases, totalling S$109.6 million, industrial strata dominated the count — 39 deals worth S$67.2 million, roughly 70 per cent of the week’s volume — while the single largest transaction, a Suntec Tower One office unit, printed at a psf level the complex has not seen in nearly three years. The batch spans sale dates from 27 April to 26 June 2026, consistent with the usual caveat-lodgement lag.

The week in numbers

Suntec Tower One — the softest office psf since 2023

A 4,295 sq ft office unit on the 11th floor at 7 Temasek Boulevard (#11-XX) sold for S$10.31 million, or S$2,400 psf — the lowest price paid for a Suntec office unit since July 2023, when a Tower Two unit changed hands at S$2,350 psf.

Floor position explains much of the discount to Suntec’s headline pricing. Since 2020, Suntec office units below the 10th floor have traded around S$2,300 to S$2,900 psf, the mid floors (levels 11 to 25) around S$2,400 to S$3,700, and the highest floors as much as S$3,897. This week’s deal sits at the foot of the mid-floor band — level with the only other S$2,400 print of the period, a level-17 unit sold in January 2020, and about 19 per cent below the mid-floor median of roughly S$2,950.

The complex’s outright low since 2020 remains a cluster of level-6 Tower Two units at S$2,300 psf in October 2021, with a further level-6 unit at S$2,350 in July 2023 — all lower floors than this week’s unit. Measured against comparable low-to-mid floors, S$2,400 psf reads as a soft print rather than a dramatic one. What gives it weight is the like-for-like: comparable mid-floor units held at S$2,950 and above through 2024 and 2025, so a level-11 unit changing hands at S$2,400 is a genuine, if measured, softening at the larger-format end of the prime office market. The unit sits on a 99-year lease from 1989, leaving about 62 years to run.

One@Redhill Centre — eight lots in a single-day bulk sale

In the industrial segment, eight adjoining units at One@Redhill Centre (1 Jalan Kilang Barat, District 3) transacted on the same day for a combined S$7.73 million. The lots — five on the sixth floor and three on the seventh — span 11,044 sq ft and blend to S$700 psf, with individual units printing in a tight S$698 to S$702 range. The uniform pricing, common sale date and contiguous stack point to a single bulk sale.

The building rarely trades: only three caveats have ever been lodged there, the most recent two at S$749 and S$752 psf in December 2025. At S$700 psf blended, the bulk buyer took the stack slightly below the building’s own recent resale level — on a multiple-user factory lease of 99 years from 1962, with roughly 35 years left to run.

Elsewhere on the tape

Industrial deals accounted for the week’s heaviest quantum outside Suntec. Arun Ventures (District 22) led at S$9.18 million for a 40,932 sq ft unit (S$224 psf), followed by a single-user factory at Loyang Industrial Estate (District 17) at S$8.1 million (S$206 psf) and a freehold unit at Mun Hean Industrial Building (District 12) at S$7.5 million (S$929 psf). On the commercial side, a freehold shophouse in District 12 fetched S$8.5 million, while a small strata retail unit at Lucky Plaza in Orchard recorded the week’s top psf at S$6,247.

Figures are drawn from URA REALIS caveats matched against PropertyAtlas’s database of more than 82,000 commercial and industrial transactions. Caveat records do not identify buyers or sellers; single-buyer bulk purchases are inferred from transaction patterns.

All transactions — latest URA REALIS release

Listed newest sale date first. Addresses are masked for privacy: for strata units the block and floor are shown with the unit masked as XX (e.g. #02-XX); for landed and whole-building caveats the block number is masked. Shophouse PSF is computed on land area and is not directly comparable to strata per-unit PSF. Tenure shows the lease type and, for leasehold, the original term and commencement date.