Office space in Lippo Centre, Admiralty on sale for $504m

The asking price is equivalent to $32,000 per square foot.

The entire 30th floor at Tower 2, Lippo Centre, 89 Queensway, Admiralty was launched for sale for $504m.

CBRE, the sole marketing agent of the office space, said the asking price is equivalent to $32,000 per square foot (sq ft). 

The high-level floor of office space has a gross floor area (GFA) of 15,750 sq ft.

Recently, a mid-level unit in Lippo Centre with a GFA of approximately 2,270 sq ft got sold for $65m or $28,854 per sq ft.

According to CBRE, the price at which the unit got sold is an increase of nearly 13% from the original owners’ purchase price a year and a half ago.

“This indicates the liquidity of this building and that market sentiment has rebounded because of the border reopening,” CBRE said.