SPRING Singapore is putting its headquarters up for sale ahead of a possible move to the second phase of Fusionopolis at One North.
The Government’s enterprise development agency hopes to then lease half of the building’s units back for the next two years for its roughly 300 employees while its new headquarters is being built.While no deal has been signed for Fusionopolis, it is understood that Spring Singapore will be located alongside other Government agencies at Fusionopolis such as the Economic Development Board and A*Star.
International property consultancy Colliers International has been hired to help find a buyer for the 22-storey Spring Singapore building at Bukit Merah Central (picture). The building has a gross floor area of 198,744 sq ft and is almost fully occupied. James Cook University is another big tenant.
The Urban Redevelopment Authority will allow the new buyer to use the building for commercial purposes. “The successful buyer could reconfigure the existing floor layout to maximise the lettable area,” said Colliers executive director Ho Eng Joo. “To achieve maximum returns, investors can also potentially convert the podium block to retail use.”
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