According to Today newspaper, the Atrium@ Orchard is up for sale! Owners – Singapore Land Authority has slated this Prime grade A office property for sale since demand for offices is still climbing and it is probably one of the best times to sell it probably to REITs or to some property management company.

This 99-year property sits on a site of 9575 sq m and has net floor area of about 34,620 sq m. It is linked directly to Dhoby Ghaut MRT Interchange station that serves the North-South and North-East MRT lines and the future Circle Line. The building is fully let out to companies, including Temasek Holdings, Barclays Capital and MTV Asia, reported by Today.

This really ultra-modern looking building juxtapoxed beside ‘Time-stood-still’ MacDonald House actually brings out the beauty of the traditional office block beside it. CB Richard Ellis is handling the sale on behalf of SLA, and they are selling it by expression of interest. And they anticipate getting about $2,700 psf of net lettable area.

If you are a commercial property owner, you could be considering cashing out right now. There is still potential upside to the commercial and industrial real estate market, so you may like to hold-off for a while. Owners of older mixed developments may still be potential en bloc candidates for property developers, so why cash out now when there is still a possibility of getting greater capital gains in an en bloc sale. The present market sentiment is still bullish for prime office space. So may hay while the sun shines, and the sun is shining brightly on the commercial property market right now.