Whole Floor Visioncrest Orchard Sold 58 Mil Strata Office Sales Heat
A 14,725 sq ft strata floor on the sixth level of VisionCrest Orchard, previously known as VisionCrest Commercial, was recently sold for $58 million, which translates to $3,939 psf. The transaction was brokered by Alex Chuah, associate director of Huttons Asia, and the buyer is a local company with global operations.
While this is a significant deal, it is not the highest price achieved in the development. In July, a 14,844 sq ft floor on the ninth level was sold for $60.28 million ($4,061 psf), according to transaction records on the SoReal platform. Another floor of the same size was sold for $59.19 million ($4,020 psf) in July 2024.
Since its launch for strata sales in July 2024, VisionCrest Orchard has seen five of its 10 strata office floors (levels five to nine) sold. The prices ranged from $57 million to $60.28 million, and the buyers included both business occupiers and investors.
VisionCrest Orchard is an 11-storey freehold commercial building with 10 floors of strata-titled office space (levels two to 11) and 11 strata-titled F&B units on the ground floor. Currently, four of the F&B units have been sold at an average price of $5,100 psf.
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The building, which was previously named VisionCrest Commercial, was acquired in November 2023 for $450 million, or nearly $3,000 psf, by real estate investment managers TE Capital Partners and LaSalle Investment Management. Subsequently, Singapore-listed Metro Holdings acquired a 20% effective stake, and the joint venture refurbished and repositioned the asset before launching it as VisionCrest Orchard in July 2024.
Chuah of Huttons Asia notes that there has been steady interest in the strata office market in 2025. Freehold, strata-titled office floors of this size are rare along the prime Orchard Road belt in District 9.
Last year, the record for the highest price per square foot was set at Tong Building. In September 2024, Savills’ Yap Hui Yee brokered three deals: a full-floor unit of 6,867 sq ft on the sixth level was sold to Parkway Hospitals for $31.33 million ($4,562 psf), while luxury watch retailer The Hour Glass purchased two full floors on the ninth and 10th levels for $33.5 million ($4,878 psf) and $35 million ($5,097 psf), respectively. The transaction at $5,097 psf set a new record for strata office space on Orchard Road.
Other prime new offerings in the market include 108 Robinson Road, Cecil Place at 137 Cecil Street, The Golden Mile, and One Sophia.
One Sophia comprises a 13-storey commercial block with 122 strata-titled office suites and a two-storey retail podium with 127 strata-titled shops. Next to it is a 367-unit residential tower, The Collective at One Sophia. The project is a redevelopment of the former Peace Centre and Peace Mansion, undertaken by SingHaiyi and Ultra Infinity, which acquired the 99-year leasehold property en bloc for $650 million in December 2021. Since its launch in October 2024, 32 strata office units have been sold, with caveats reflecting prices between $3.381 million ($3,569 psf) for a 947 sq ft unit on the 12th floor and $10.261 million ($3,036 psf) for a 3,380 sq ft unit on the fifth floor.
All except one strata office unit on the third level at 108 Robinson Road have been sold (Photo: CBRE, Savills Singapore and SRI Capital Markets)
In the Central Business District (CBD), PGIM Real Estate launched its refurbished 12-storey freehold tower, 108 Robinson Road, for strata sales in early 2024. To date, only the third floor remains available. The largest deal was in May this year, when three floors – the eighth, 11th, and 12th – with a total size of 14,252 sq ft were purchased by Buddhist temple Kwan Im Thong Hood Cho for $55.8 million ($3,915 psf). The building was acquired by PGIM for $143 million in 2021 and underwent extensive refurbishment before its launch.
In March, a GuocoLand subsidiary bought the top three floors at 20 Collyer Quay for $91.8 million. This was the largest strata office deal in the first half of 2025.
Meanwhile, at The Golden Mile on Beach Road, three office units ranging from 904 sq ft to 1,292 sq ft were sold in March and April this year for $3.15 million to $4.76 million, or $3,484 to $3,683 psf. The project, which has a 99-year lease from 2024, is part of the conserved Golden Mile Complex redevelopment by Far East Organization, Perennial Holdings, and Sino Land. It includes Aurea, a 45-storey residential tower with 188 units.
According to Huttons’ 1H2025 commercial report, the total value of strata office transactions surged to $700 million in 1H2025 – a 60% increase from $437.3 million in 1H2024. Chuah notes that declining interest rates have created a positive carry for investors and real estate funds, sparking renewed demand in the strata office market. In 1H2025, 189 strata office units changed hands, up 22.7% year-on-year.