Ground-floor retail unit at GB Building sold for S$39.2 million

Located strategically in the heart of Singapore's bustling Central Business District, the GB Building at 143 Cecil Street consists of a retail podium, an office tower and a three-storey basement carpark.

Sitting prominently on a corner land plot at the junction of Cecil Street and McCallum Street, GB Building fronts one of the most busiest and highest-traffic junctions in Singapore's Central Business District.

GB Building is on a 99-year leasehold tenure from October 1982, with about 56 years remaining on the lease. 

The building enjoys excellent connectivity, with fully sheltered access to Tanjong Pagar MRT Station and both Telok Ayer and Shenton Way MRT Stations are also a short 5-minute walk away.

Accordingly to a caveat lodged on 9th July 2025, the ground-floor retail unit at GB Building, covering 13,068 sq ft across the first and second floors, was sold for S$39.2 million, equating to S$3,000 per square foot.

The seller had purchased the unit in July 2021 for S$25.48 million (S$1,950 psf) earning a profit of S$13.72 million after a four-year holding period, excluding stamp duties and other associated costs.

The ground-floor retail unit sold was part of a portfolio at GB Building put up for sale through an expression of interest (EOI) exercise by ETC in March, at a guide price of S$45 million, or S$3,443 psf.

In August 2021, The Business Times reported that this ground-floor unit was among three strata-titled units in GB Building acquired for S$52.06 million in a receivership sale. The buyer was three entities with a sole shareholder, Dia-Globe, a company engaged in the wholesale of precious jewellery.

Source : Urban Redevelopment Authority of Singapore