This $17.8M Portfolio Of 14 Office Units Comes Fully Leased — Just As CBD Office Rents Are Expected To Rise Up To 20%

A portfolio of 14 strata office units at High Street Centre on North Bridge Road is on the market at a guide price of $17.8 million.

The units for sale comprise all 10 units on the eight floor and four units on the ninth floor. Collectively, they span a total strata area of 9,300 sq ft. The guide price works out to approximately $1,913 psf, according to marketing agent CBRE.

The entire portfolio of strata office units is leased to international flexible workspace operator The Flexi Group, which operates under the co-working brand The Hive. The space in High Street Centre is the result of its acquisition of former local co-working company Found8 in 2022.

According to CBRE, the strata units for sale at High Street Centre feature regular and efficient layouts, which are versatile enough to accommodate a range of occupancy and leasing strategies, including multi-tenancy arrangements.

However, the appeal of this portfolio of strata office units is the fact that it comes with an existing tenancy to an established co-working brand. This means that the new owner can secure an immediate and stable income stream.

“Full-floor strata offices in the CBD remain exceptionally scarce. Limited stock, coupled with URA restrictions on new strata subdivisions, continues to constrain future supply,” says Clemence Lee, Executive Director of Capital Markets, Singapore at CBRE.

He adds that this is an opportunity for both yield-focused investors and owner-occupiers to acquire a collection of prime strata offices amid a tightening office market.

Grade A offices rents set to jump over the next four years

Singapore’s office market has been especially exuberant over the past few months, especially in the core Central Business District (CBD) zone where the pipeline of new office supply has moderated. Research by CBRE indicates that Grade A office rents have been climbing for five consecutive quarters despite the ongoing global macroeconomic uncertainty.

This is compounded by the anticipated supply crunch in the Grade A CBD office market, and CBRE forecasts that rents in this segment could increase 18% to 20% over the next four years. Other earlier reporting also points out that Grade A office rents in the Central Business District (CBD) have edged up 0.8% q-o-q to $12.50 psf per month (pm) in 2Q2026, up from $11.36 psf pm in 1Q2026.

As demand for Grade A offices in the CBD increases, with office space needs growing among professional and financial services as well as newer entrants such as artificial intelligence businesses, a clear flight-to-quality trend is emerging for dedicated, self-managed office spaces.

High Street Centre’s prime location within the Civic District, as well as its riverfront location, cityscape views, efficient floorplates, and accessibility to public transport networks, has given the 99-year leasehold development a track record of drawing strong leasing interest from office occupiers.

Forward-looking investors may want to consider this portfolio of units to capitalise on the expected rental growth, and it is a good chance for owner-occupiers to secure a centrally located office space ahead of further rental growth, says Lee.

High Street Centre is conveniently located between the lifestyle precinct at Clarke Quay and the financial district at Raffles Place, and the building enjoys a prominent riverfront position along the Singapore River.

This area is also served by three MRT stations and interchanges: City Hall Interchange on the North-South and East-West Lines, Clarke Quay station on the North-East Line, and Fort Canning on the Downtown Line.

In terms of road connectivity, this area is linked to the Central Expressway (CTE), East Coast Parkway (ECP) and Kallang Paya-Lebar Expressway (KPE). High Street Centre also consists of 300 parking lots, a rare feature for highly sought after commercial assets in the area. 

A declining number of strata-titled office units

It is uncommon to see a portfolio of this many strata office units on the market since most owners are much more incentivised to hold on these properties. There is a limited supply of these strata-titled office spaces after the government imposed restrictions on the strata subdivision of commercial properties in some central areas.

A prominent strata-titled office development close to High Street Centre is Suntec City, where a 10,096 sq ft office space in Tower One was sold for $33.97 million ($3,364 psf) in July 2025.

In April this year, three full office floors at Suntec Tower 1 and Tower 2 spanning 40,300 sq ft went on the market for $135 million ($3,350 psf), while a pair of adjoining strata offices in the same tower were being sold at $22.04 million in March.

Recent commercial properties along North Bridge Road that were on the market include:

• In May 2026, Jun Xin Building, a 999-year leasehold commercial building at 402 North Bridge Road was on the market for $70 million, with the EOI closing on 9 July
• In March 2026, three freehold adjoining shophouses on 789, 791 and 793 North Bridge Road were put on the market for an undisclosed price
• In October 2024, three adjoining shophouses on 490, 492, 494 on North Bridge Road was put up for sale for $72 million 
• In December 2024, four freehold conservation shophouses on 762, 764, 766 and 768 North Bridge Road were offered up for $37 million
• In September 2024, a four-storey shophouse at the corner of North Bridge Road and Liang Seah Street was being sold for $42 million

Another consideration for prospective buyers looking at the portfolio of units at High Street Centre is the development’s enbloc potential. The 99-year leasehold building has about 47 years left on its lease, and the owners there have launched a few collective sale attempts in recent years.

In June 2020, there was a collective sale attempt which listed the strata-titled building for sale at a reserve price of $800 million. At the time, the site had approval to be redeveloped as a new hotel and commercial property.

The most recent attempt was in May 2024 which saw the building almost get sold for $678 million – which was 9% less than the reserve price of $748 million – but this deal eventually fell through.

The sale of the portfolio of office units is open to foreigners, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the transaction. The properties will be sold in an Expression of Interest (EOI) exercise that closes on Aug 18.