With the sale of the 18th floor of the Samsung Hub in Singapore, the commercial property sector continues to go from strength to strength, and the success of this growth is represented in the premium price commanded by the spaces within this impressive building. The Buxani Group, assisted in their investments by Capital Management Group, which can be read about in greater detail via Mukesh Valabhji’s Twitter account, has been a key player in the profits generated by the Samsung Hub – a brilliant example of the lucrative commercial property opportunities opening up in the area. Singapore itself is of course a singularly important city of commerce on the domestic and international business scene, and so this has been a critical factor in making commercial property such a desirable investment opportunity in that region.
Samsung Hub: Exceptional Office Space
Built on the old Church Street, the Samsung Hub is an exceptional skyscraper sitting in the heart of the Singapore business district. With over 30 storeys and being 564 ft in height including antenna, the building provides all of the needed amenities and space for a modern 21st century business to establish itself quickly.
The building was opened in 2005 with a striking post-modern aesthetic, which conveys the streamlined, efficient and impressive nature of the businesses contained within. Indeed, using a luminous curtain wall approach with beautiful turquoise glass allows the Samsung Hub to stand out from the other buildings in the business sector, which are most commonly comprised of granite. It is in this individuality that the building exerts its influence over those who pass by, marveling at its size and professional appeal.
The design and appearance of the Samsung Hub is one of the reasons why it has become such an important building for those either investing in or renting out commercial office space in Singapore. Its location is also a huge boon to any company residing there, allowing them to take advantage of the business infrastructure already in place, while carrying with it a level of status. This is afforded to businesses there, because having a prime location is often indicative of a strong, sustainable and ever-growing enterprise which is competing well at the top of its respective industry.
For all of these points, the Samsung Hub is situated perfectly to meet the needs of large, successful organisations, while showcasing the relevance and grandeur of Singapore as an important centre of commerce.
Snapping Up Premium Office Space
Selling the entire 18th floor is no surprise, as the spaces available in the Samsung Hub are extremely desirable and tend to be snapped up as quickly as possible by Singaporean and international businesses alike. Selling at $3,225 per square foot, the 18th floor is just the latest storey of the building to be sold out, with demands high, not just because of its amenities and location, but also because of its exceptional lease availability. Each leaseholder has the option to take out a tenure of 999 years, meaning that no business need worry about having to change location in the future. This creates confidence in being able to forge a strong local presence, as well as a global one, using offices within the Samsung Hub as a platform for further expansion in any chosen marketplace or industry.
Previously, the highest payment made to any owner of an office space in the Samsung Hub was $3,030 per square foot. This deal was completed in return for use of the building’s 14th floor when sold in early 2014 by Arch Capital Management. Indeed, this increase in price is indicative of the growing interest in office space within Singapore and within investment and finance communities. Whether these prices have now stabilized, or if they will continue to increase, only time will tell. Certainly, any office space in the Samsung Hub will require a serious amount of capital whether now or in the years to come, such is its status and prestige.
Incredible Returns on Samsung Hub Investments
One of the key components to any investment is knowing when and where to buy. This is no truer than with commercial or office space. The Samsung Hub is a perfect example of this; due to its location, design and associated status, it has proved to be an incredible lucrative investment opportunity for those involved in the real estate industry.
The aforementioned deal for the 18th floor netted the Buxani Group a staggering $42.35 million, which by any count is an incredible sum of money. Knowing full well the importance and healthy condition of the Singaporean commercial real estate sector, the company is now looking to reinvest much of this money in similar sites across the city to further extend these remarkable profits.
Investment in office space continues to net various companies and individuals a substantial return, and there is little sign of this trend abating. Through insight provided by key advisors, the Buxani Group and others have attained huge returns on their investments, which has only added to the status surrounding office space as a wise and fruitful are in which to invest.