Two Full Floors At This Tanjong Pagar Tower Are Asking $54.15M — Here’s Why Such Offices Are Getting Harder To Find

Two full floors at the 37-storey Springleaf Tower are on the market at the collective guide price of $54.15 million. The office floors span a combined strata area of 20,645 sq ft and can be sold separately or together, according to joint marketing agents CBRE and Sakal Real Estate.

The guide price translates to approximately $2,623 psf. The individual floor pricing starts from $25.65 million for the lower floor unit. The properties will be sold in an Expression of Interest (EOI) exercise. According to the marketing agencies, the sale will not attract any Additional Buyers’ Stamp Duty (ABSD) or Sellers’ Stamp Duty (SSD).

“This offering serves as a good opportunity for an occupier or an investor to purchase a high-quality strata office. Office floors within Springleaf Tower are tightly held by a very small number of owners and the opportunity to acquire an entire level, especially one located on a high floor, is rare and hard to come by,” says Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE Singapore.

In the heart of Tanjong Pagar and the CBD

Fronting Anson Road and located opposite International Plaza, another landmark commercial building, Springleaf Tower is one of the prominent office and commercial buildings in Tanjong Pagar.

At street level, the building’s grand marble-clad entrance lobby is about three storeys high, and there is also a covered car drop off point on the 2nd floor. The property has a carpark that spans the third to fifth floors, with a total of 131 lots.

Springleaf Tower is close to two MRT stations, Tanjong Pagar on the East-West Line and the new Prince Edward Road station on the Circle Line. There are several retail F&B options in the area, including Amoy Street Food Centre, Maxwell Food Centre, Lau Pa Sat Food Centre, as well as eateries along the Telok Ayer / Amoy Street conservation shophouses.

According to the marketing agents, Springleaf Tower consistently enjoys a high occupancy rate and a strong tenant profile across a diverse trade sector mix. Most office tenants occupy a full floor, which comes with exclusive use of the lift lobby, restrooms, and pantry on each level.

Each office floor boasts a prominent office entrance frontage, with premium specifications including a column-free layout, raised flooring, good floor-to-ceiling height, and Variable Refrigerant Volume (VRV) air-conditioning for independent floor operation.

Based on transaction records, the most recent office deal at Springleaf Tower was a 10,742 sq ft unit on the 31st floor that fetched $27.4 million ($2,550 psf) when it was sold in November 2022. Before that, a 21,485 sq ft unit on the 29th floor changed hands for $53.9 million ($2,510 psf) after it was also sold in November 2022.

Steven Ming, Managing Director at Sakal Real Estate says: “With URA implementing restrictions on strata subdivision of commercial properties within the CBD and continued positive outlook for the office market, we anticipate keen interest in this opportunity given its attributes and continued demand for strata office floors.”

The Downtown area’s transformation

The government is working on several initiatives to transform the existing Central Business District (CBD) and the downtown area into a more mixed use and vibrant precinct. Redevelopment and rejuvenation schemes aim to encourage the owners of older developments in Raffles Place and Tanjong Pagar to include more public spaces, day and night amenities, as well as enhance the existing pedestrian connectivity.

The Anson-Tanjong Pagar area, in particular, has been earmarked as a future mixed-use urban neighbourhood adjacent to existing residential communities in Cantonment and Spottiswood Park.

Lately, redevelopment activities in the vicinity have also picked up pace. Four new office developments – Newport Plaza, The Skywaters, 15 Hoe Chiang Road and Keppel South Central – look set to introduce new mixed-use projects and luxury residences in the city. Some of these projects are supported by the government’s Central Business District Incentive (CBDI) scheme.

The precinct’s lasting appeal is evident from the presence of MNCs that span a wide range of industries, including banking, insurance, automotive, technology, and consultancy firms. Moreover, the area’s long-term growth prospects are set to be further strengthened by the gradual development of the Greater Southern Waterfront.

This wide-ranging urban transformation plan – which stretches from Pasir Panjang to Marina South – is expected to have a positive knock-on effect on the capital values and rentals of existing commercial developments in the CBD.

The sale of the two office floors at Springleaf Tower represents a good opportunity for end-user occupiers to acquire quality premises for their own operations and be located amongst some of the multinational corporations (MNC) in the locale, says Tay of CBRE.

New Grade A office scarcity in the CBD drives up demand for high-quality office space

Strata titled commercial properties in the CBD continue to be highly sought after, due to the limited new supply. The upward pricing trend is also driven by the scarcity value of owning an entire floor in a Grade A commercial building.

Data from CBRE shows that Grade A office rents have recorded sixth consecutive quarterly growth to increase 1.6% in the first half of 2026. In today’s market, potential occupiers may increasingly lean towards owning rather than leasing offices.

In March 2026, the final freehold office floor at 108 Robinson Road was up for sale at $16.2 million ($3,725 psf), after undergoing a comprehensive Asset Enhancement Initiative in 2023. Most industry analysts, including Sakal, have shared that properties in the CBD and city fringe locations remain a draw due to Singapore’s status as a safe haven market, especially in the midst of ongoing geopolitical tensions.

The EOI exercise for the sale of the two  office floors at Springleaf Tower will close on October 1.