none

Office Space for Rent

Raffles Place / New Downtown


Subject to Contract and Availability | Disclaimer

All rates shown are Official Asking Rates in S$ per sq ft per month inclusive of service charge. These rates are negotiable.

1. Top Premium Office Space For Rent in Raffles Place / New Downtown
S$13.00 - $14.00


Searching for top quality offices for rent in Singapore, then this is the place to look. This location has the highest density of premium ‘world class’ office developments in Singapore and this is where you will find the highest specification of office space for lease that will match the most challenging requirements.



The Offices

This new financial hub located off Shenton Way has been developed over the past 20 years on land that was almost entirely reclaimed from the sea in 1990s. After only 8 years of land settlement, building works started to develop and create a new financial district, which now has the highest density of world class office schemes in South East Asia. No other location can offer such huge amount of top quality office space for lease, with each building providing over 1,000,000sq ft of premium offices for rent. Landmark schemes/ office buildings in this area include the three towers at Marina Bay Financial Centre (built 2010), the massive twin towers of Asia Square (built 2011), the top quality office space in One Raffles Quay North and South Towers (built 2006) and the twin mega towers of Marina One East and West Tower (built in 2018). They are soon to be joined by another 'world class' development, namely Central Boulevard Towers (TOP expected 2022). All these schemes have the highest specification that would match the most challenging of requirements, including dual telecom risers, emergency power, shower facilities, raised flooring, high ceiling heights, efficient square column-free design and floor to ceiling windows.

The Amenities

The number of hotels in this area is limited and the principle one is the Westin Hotel in Asia Square, with The Fullerton Bay Hotel nearby. There is a mixture of residential schemes in this location including The Sail, Marina Bay Suites and a large residential component at the Marina One Residences. The area is served by 2 MRT stations namely Marina Bay and Downtown and a third station, Shenton Way, is due to open in 2021. Access by car is simple, directly from the re-routed ECP (East Coast Parkway) and there are many bus routes servicing this location.

For places to eat, many of these schemes are mixed developments with elements of retail space on the lower floors and schemes like Asia Square and Marina Bay Financial Centre all have food courts, usually on the podium floors. Shenton Way is not far away and the food court of Lau Pa Sat is still a popular destination for lunch.

The History

In anticipation of increasing growth of the existing city centre, Singapore embarked upon an ambitious land reclamation project in 1971. In 1994, the final 38 hectares of land were reclaimed at Bayfront to create the shore profile of Marina Bay that we see today. By the late 1990s, the Marina Bay area covers a total of 360 hectares of prime land for development.

Marina South, was planned to be the "jewel" of the three plots. Detailed plans for the site were first outlined in 1984 after two renowned architects, Japanese Kenzo Tange and Chinese American I. M. Pei, were commissioned by the government to propose plans for developing a new downtown in the area. Responding to URA's "green and blue" vision – developments sitting amid greenery and bodies of water, thus recalling Singapore’s character as a tropical island – Tange proposed a radial principle that reflected the existing curvature of the ECP, drawing out major roads that radiated out from the bay like fingers. Pei’s plan was more rectilinear and based on a grid that integrated with the existing Central Business District (CBD). This resulted in regularly shaped land parcels that could be sold incrementally. The government chose Pei’s plan, which would influence later concepts of development for the area.

The heart of Singapore's new financial hub came to fruition in 2013, with The Marina Bay Financial Centre and Asia Square becoming the choice location for many leading financial institutions. Adding to the repertoire of iconic buildings in Marina South, mixed-use developments such as Marina One officially opened in 2018, marking Singapore’s growth as a major international business destination.


2. Prime Offices for Rent in Raffles Place
$9.00 - $11.50


Looking for prestigious offices for rent with a prime Raffles Place address, that offer some of the best ‘value for money’ options, there is a surprisingly wide choice in Raffles Place. Outlined below are some of the best opportunities to find office for lease to a very high standard. Some of the buildings in this category are 10-15 years old but have been well maintained or recently refurbished and offer far more competitive rates compared to some of the newer schemes.



The Offices

Raffles Place has always been the top prime office location in the heart of the financial district. Even with strong competition from the New Downtown, Raffles Place has often been the location of choice because of recognition of its prestigious address, its convenience and quality of stock with many of the latest schemes being of ‘world class’ standard. Some of the landmark buildings here, that has premium office space for rent includes Republic Plaza, UOB Plaza, One Raffles Place, 6 Battery Road and Ocean Financial Centre. All these building have direct underground links to the MRT station. Other well-known buildings with offices for rent in this location include OCBC Centre, Bank of Singapore Centre, Singapore Land Tower, Clifford Centre, 30 Raffles Place (fka Chevron House) The Arcade and Income @ Raffles (fka Hitachi Tower).

The Amenities

Hotels close by include the classic The Fullerton Hotel (previously the original Central Post Office), The Fullerton Bay Hotel, Capri by Fraser China Square and Park Royal Collection. There are also service apartments at Ascott Raffles Place, in the former Asia Insurance Building, as well as in the soon to be completed CapitaSpring. Entertainment wise, Boat Quay is right next door, Fullerton Bayfront and Far East Square. There are ample food outlets in the area, with underground food courts in the basements of Republic Plaza, One Raffles Place and Clifford Centre.

The History

The history of Raffles Place dates back to 1822. Raffles Square was assigned by Sir Stamford Raffles as a commercial square as he had decided to re-locate the business sector across the Singapore River to its southwestern bank and was developed between 1823 and 1824. A small hill originally stood at the area between Commercial Square and Battery Road. Under Raffles' supervision, the hill was leveled, and its soil was then used to reclaim the marshy southern bank of the Singapore River, forming the Boat Quay and Circular Road area. Commercial Square was created as an open space 200 yards long by 50 yards wide. Commercial enterprises were established in the area, where two and four-storey buildings were built around the square housing mercantile offices, banks and trading companies. On 8 March 1858, Commercial Square was renamed Raffles Place in Raffles' honour.

The earliest banks to operate in Commercial Square were the Oriental Bank, the Chartered Mercantile Bank of India, London and China (later absorbed into HSBC), the Chartered Bank of India, Australia and China (which later became the Standard Chartered), and the Asiatic Banking Corporation. At the turn of the 20th century, the banking industry in Singapore took off. Home-grown banks came into play, competing against bigger banks, with lower interest rates and a cultural affinity with their customers. From the 1950s, banking in Singapore entered a new league, with Bank of America establishing itself here in 1955 at 31 Raffles Place, and Bank of China at the adjacent Battery Road.

In the 1960s and 1970s, retailers began to move away from Raffles Place area to locations such as High Street, North Bridge Road and Orchard Road. They were replaced by finance houses and major banks. The Whiteaway Laidlaw department store building on Battery Road, was taken over by Malayan Bank in 1962 and it was later demolished to make way for the Maybank Tower in 1998. Robinson’s department store moved to Orchard Road, after its landmark building was destroyed in one of the worst fires in Singapore's history in 1972. Its neighbour Overseas Union Bank expanded into the site with the construction of a new tower in 1986 that is now Singapore Land Tower.


3. Affordable / Low Cost Offices for Lease in Raffles Place
S$7.50 - $10.00


To find cheap offices for rent in Raffles Place is not that simple. The options to lease low cost office space in raffles Place are more limited and it is important to know where to look. These will often be found in the slightly older buildings but some still a good combination of efficient space at reasonable rates in a highly desirable address.



The Offices

Raffles Place has always been the top prime office location in the heart of the financial district. Even with strong competition from the New Downtown, Raffles Place has often been the location of choice because of recognition of its prestigious address, its convenience and quality of stock with many of the latest schemes being of ‘world class’ standard. Some of the landmark buildings here, that has premium office space for rent includes Republic Plaza, UOB Plaza, One Raffles Place, 6 Battery Road and Ocean Financial Centre. All these building have direct underground links to the MRT station. Other well-known buildings with offices for rent in this location include OCBC Centre, Bank of Singapore Centre, Singapore Land Tower, Clifford Centre, 30 Raffles Place (fka Chevron House) The Arcade and Income @ Raffles (fka Hitachi Tower).

The Amenities

Hotels close by include the classic The Fullerton Hotel (previously the original Central Post Office), The Fullerton Bay Hotel, Capri by Fraser China Square and Park Royal Collection. There are also service apartments at Ascott Raffles Place, in the former Asia Insurance Building, as well as in the soon to be completed CapitaSpring. Entertainment wise, Boat Quay is right next door, Fullerton Bayfront and Far East Square. There are ample food outlets in the area, with underground food courts in the basements of Republic Plaza, One Raffles Place and Clifford Centre.

The History

The history of Raffles Place dates back to 1822. Raffles Square was assigned by Sir Stamford Raffles as a commercial square as he had decided to re-locate the business sector across the Singapore River to its southwestern bank and was developed between 1823 and 1824. A small hill originally stood at the area between Commercial Square and Battery Road. Under Raffles' supervision, the hill was leveled, and its soil was then used to reclaim the marshy southern bank of the Singapore River, forming the Boat Quay and Circular Road area. Commercial Square was created as an open space 200 yards long by 50 yards wide. Commercial enterprises were established in the area, where two and four-storey buildings were built around the square housing mercantile offices, banks and trading companies. On 8 March 1858, Commercial Square was renamed Raffles Place in Raffles' honour.

The earliest banks to operate in Commercial Square were the Oriental Bank, the Chartered Mercantile Bank of India, London and China (later absorbed into HSBC), the Chartered Bank of India, Australia and China (which later became the Standard Chartered), and the Asiatic Banking Corporation. At the turn of the 20th century, the banking industry in Singapore took off. Home-grown banks came into play, competing against bigger banks, with lower interest rates and a cultural affinity with their customers. From the 1950s, banking in Singapore entered a new league, with Bank of America establishing itself here in 1955 at 31 Raffles Place, and Bank of China at the adjacent Battery Road.

In the 1960s and 1970s, retailers began to move away from Raffles Place area to locations such as High Street, North Bridge Road and Orchard Road. They were replaced by finance houses and major banks. The Whiteaway Laidlaw department store building on Battery Road, was taken over by Malayan Bank in 1962 and it was later demolished to make way for the Maybank Tower in 1998. Robinson’s department store moved to Orchard Road, after its landmark building was destroyed in one of the worst fires in Singapore's history in 1972. Its neighbour Overseas Union Bank expanded into the site with the construction of a new tower in 1986 that is now Singapore Land Tower.


Want to search for more office space options in Singapore, to match your budget, size and location preferences? Then use our comprehensive search tool below.

Our customised stock report will give you our full summary of all available offices for rent with our confidential guide on Lowest Negotiable Rates. Fill in the Request Summary form, and you will receive your customised report within 60 minutes.

To request further information:

Edmund Goh
Edmund Goh
M +65 9792 9288

Email
Location

Singapore

For Lowest Negotiable Rates
Request Summary Of Available Space