Ready commercial · Completed 2019
Elevate Raffles Place Tower
8 Battery Road, Singapore 049908
A 999-year leasehold Grade A tower on Battery Road with 95% occupancy, prized for its rare freehold-equivalent tenure in the historic banking core.
Building overview
The asset
Completed in 2019 and comprehensively fitted to institutional standard, Elevate Raffles Place Tower offers 540,000 sq ft of net lettable area over 36 storeys. Its 999-year leasehold tenure is exceptionally rare in the CBD and materially supports long-term capital values and bank financing. Efficient 16,500 sq ft floor plates suit both single occupiers and subdivided suites, and the building sits 90 seconds from Raffles Place MRT interchange.
Investment highlights
- 999-year tenure — effectively freehold, rare in the CBD
- Fully operational with in-place income and existing leases
- Strong bank financing support up to 80% LTV
- Historic banking address with institutional tenant profile
- Sub-2,500 sq ft suites suit smaller investment tickets
- Developer
- Elevate Properties Pte. Ltd. with GuocoLand
- District
- District 01 — Raffles Place
- Classification
- Grade A (BCA Green Mark GoldPlus)
- Completion year
- 2019
- Tenure
- 999-year leasehold
- Occupancy rate
- 95%
- Price from
- S$4.14M
- Average pricing
- S$3,450 psf average
- Rental yield
- 4.0 – 4.2% gross
- ROI
- 8.4% p.a. blended
Specifications
Building specifications
Net lettable area
540,000 sq ft
Storeys
36 above ground, 3 basement
Typical floor plate
16,500 sq ft
Ceiling height
2.9m finished
Lifts
14 passenger in two zones, 2 service
Power provision
130 VA/sqm with standby generator
Air-conditioning
VAV with after-hours zoned control
Green certification
BCA Green Mark GoldPlus
Efficiency ratio
82% net to gross
Security
Biometric turnstiles, 24/7 command centre
Availability
Office sizes, pricing and yield
| Office size | Available units | Starting price | Current market price | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| 1,200 sq ft suite | 8 units | S$4.14M | S$4.38M | S$13,800 / month | 4.0% |
| 2,400 sq ft office | 5 units | S$8.28M | S$8.76M | S$27,840 / month | 4.0% |
| 4,100 sq ft office | 3 units | S$14.15M | S$14.97M | S$48,380 / month | 4.1% |
| 8,250 sq ft half floor | 2 units | S$28.46M | S$30.11M | S$98,000 / month | 4.1% |
| 16,500 sq ft full floor | 1 unit | S$56.93M | S$60.23M | S$198,000 / month | 4.2% |
Rents shown are gross of service charge and reflect current in-place or market-tested levels. Figures are indicative demonstration data and not a guarantee of future performance.
Tenancy
Occupancy and major tenants
95%
Committed occupancy
Blended rental yield of 4.0 – 4.2% gross with a total blended return of 8.4% p.a. blended.
- Regional office of a global asset manager
- Two Singapore-listed REIT managers
- International insurance brokerage
- Boutique corporate advisory practices
Gallery
Exterior, lobby, floors and facilities
20 images covering the exterior, lobby, reception, office floors, meeting rooms, business lounge, building facilities and floor plans.
Amenities
Building amenities
- Restored heritage-inspired granite lobby
- Tenant business lounge on level 6
- Four meeting rooms and one 40-seat seminar room
- End-of-trip facility with 150 lockers
- Ground-floor café and grab-and-go retail
- Sky terrace on level 35
- On-site building management office
- 24/7 tenant service app for bookings and access
Location
Exact location
Access
Parking, transport and MRT
Parking
- 310 car park bays across three basement levels
- 22 EV charging bays
- Season parking from S$480 per bay per month
- Dedicated drop-off portico on Battery Road
Transportation access
- 90-second covered walk to Raffles Place MRT
- Direct access to Central Expressway (CTE)
- Riverside walkway link to Boat Quay dining
- Multiple bus services on Battery Road and Collyer Quay
Nearby MRT stations
- Raffles Place (NS/EW) — 2 min
- Telok Ayer (DT) — 7 min
- Downtown (DT) — 8 min
- Clarke Quay (NE) — 12 min
Analysis
Professional investment analysis
- 01
999-year tenure typically commands a 15–20% capital value premium over 99-year CBD stock and materially improves exit liquidity with institutional buyers.
- 02
In-place rents average S$11.20 psf/month against market rents of S$11.90 psf/month, giving embedded reversion of about 6% on renewal.
- 03
Small strata suites from S$4.1M widen the buyer pool at exit, historically compressing time-on-market versus full-floor assets.
- 04
Raffles Place vacancy has averaged 4.8% over the past three years, among the tightest submarkets in Asia-Pacific.
Enquire
Request the investment pack
Rent roll, tenancy schedule, service charge budget, valuation summary and floor plans.
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