9 Penang Road

Property Statistics As at 30 September 2019
Market Valuation
Market Valuation
S$276.0 million1,2,3
NLA
Total Net Lettable Area
0.2 million sq ft1
Commited Occupancy
Committed Occupancy
-
Net Property Income
Net Income Contribution
-
Location 9 Penang Road, Singapore 238459
Ownership Interest 30.0%
Title Leasehold 99 years from 2016
Purchase Price S$245.1 million
Car Park Lots Approximately 121

Notes:

  1. Reflects Suntec REIT's interest in the property.
  2. Based on the valuation as at 31 March 2019 on an "as if complete" basis.
  3. The carrying value as at 30 September 2019 was S$241.5 million.

9 Penang Road is a ten-storey Grade A commercial building which is currently under development. The development received its temporary occupation permit in end October 2019. The building consists of two wings with an approximate net lettable area of 381,000 sq ft of office space across eight floors and 15,000 sq ft of retail space at the first level.

The building is located along Orchard Road precinct and is within walking distance to Dhoby Ghaut MRT interchange station which connects the North-South, North-East and Circle lines.