SLA to sell the Atrium@Orchard through Expression of Interest

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1 The Singapore Land Authority (SLA) has launched the Atrium@Orchard for sale through an expression of interest(EOI). CB Richard Ellis (CBRE) will be handling the EOI.

2 The Atrium @ Orchard, completed in 2002 comprises 2 office towers of 7 and 10 storeys respectively with ground floor retail space. This property will be sold on a fresh 99-year lease. The property is a Grade A office building and sits on a land area of 9,575 square metres with a net floor area of about 34,620 square metres. The property is currently 100% occupied and anchor tenants include Temasek Holdings, Barclays Capital and MTV Asia.

3 It is located in Orchard Road - Singapore’s premier shopping, entertainment and hotel district with good accessibility to public transport as it is directly linked to the Dhoby Ghaut MRT Interchange Station which serves the North-South MRT line and the future Circle line.

4 CBRE’s Jeremy Lake, Executive Director (Investment Properties) said: “There is pent up demand for grade A office assets from foreign and local investors. The absence of new office supply coming up in Orchard Road will fuel rental growth We expect bids above $2,700 psf on the net lettable area to be received.”

5 The EOI closes on 22 February 2008, 4pm at CBRE’s office (6 Battery Road, #32-01 Singapore 049909).



Issued by:
The Singapore Land Authority
14 January 2008