A portfolio of 20 strata-titled office units in Parkway Centre is being put up for sale via an EOI exercise, at a total indicative price of up to $34.6 million. Parkway Centre, in Marine Parade, is a 13-storey suburban commercial building with retail units on the first floor and office units from the second to 13th floors. The 20 office units on sale have a total strata area of 21,646 sqft, with about 65 years left on the lease. Currently, this portfolio enjoys an occupancy rate of about 78 per cent, with a tenancy mix that includes enrichment and tuition centres, and a music school, among others. The portfolio has an indicative price of $1,550 psf to $1,600 psf on strata area. Cushman & Wakefield expects interest from investors and end-users, who may consider taking over the units when the leases expire. The EOI exercise closes on Sept 22.... Continue Reading