Type

Units

Min Area

Price Range

Studio

398 sqft

S$1.4M – S$4M

Other

646 sqft

S$2.2M – S$4M

Property Highlights

Commercial development with 7 units currently available.
Prices currently range from S$1.4M to S$4M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$280K on this acquisition.
999-year Leasehold.
Located 4 min (360 m) from EW13 City Hall MRT Station.

Price Trends & Rental Yield

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The Adelphi: Premium Office Space in Singapore's Central Business District

The Adelphi stands as a distinctive office development positioned at the heart of Singapore's most prestigious business neighbourhood. Located at 1 Coleman Street, this project offers thoughtfully designed commercial spaces that cater to established corporations and growing enterprises seeking a recognisable City Hall address. The development's strategic placement within the Central Business District positions it as an attractive acquisition for occupiers and investors alike.

Location and Accessibility

Situated just four minutes' walk from City Hall MRT Station on the East-West Line (EW13), The Adelphi benefits from exceptional connectivity that facilitates seamless employee commuting and client visits. The sheltered pedestrian access from the MRT station enhances convenience during Singapore's tropical climate, reducing exposure to weather whilst navigating to the office. This proximity to one of the island's most utilised transport nodes ensures sustained demand and accessibility for all building occupants.

The surrounding neighbourhood is populated with recognisable corporate landmarks including Raffles City Shopping Centre, CityLink Mall, the Supreme Court, Peninsula Plaza, Capitol Singapore, and the National Gallery. This concentration of prestige addresses, cultural institutions, and retail amenities creates an environment conducive to professional practice and client confidence, particularly for service-oriented firms valuing a strong corporate image.

Office Design and Specifications

Units at The Adelphi feature open-plan, column-free layouts that maximise usable floor area and provide flexibility for internal reconfiguration. The high-ceiling specifications allow for superior natural light penetration and create a sense of spatial generosity that appeals to modern workplace standards. Regular floor plates with generous proportions enable efficient space planning without compromising on functionality or aesthetics.

The spaces arrive fitted with ample built-in storage solutions, reducing the need for additional cabinetry and optimising operational efficiency. A small pantry area is integrated into each offering, supporting workplace convenience without occupying excessive square footage. Central air-conditioning maintains consistent climate control throughout, ensuring occupant comfort across Singapore's year-round tropical conditions. The combination of these features creates an environment that meets contemporary corporate expectations for both day-to-day operations and client entertainment.

Parking and Building Amenities

The Adelphi provides access to 382 parking lots within the development, addressing a critical operational requirement for corporate occupiers with client visits and executive vehicles. The season parking rates are structured competitively, reflecting the development's commitment to providing affordable ancillary services that support overall cost efficiency for tenants and owner-occupiers. This parking provision is particularly valuable in a CBD location where external parking options are limited and expensive.

Suitability for Different Occupier Types

The office architecture and central location make The Adelphi particularly suitable for professional service firms including law practices, accounting partnerships, and management consultancies. The established CBD address reinforces client confidence and supports business credibility, factors that remain material considerations for service-based enterprises. Shipping companies and international trading firms also find the location advantageous given proximity to both administrative precincts and transportation infrastructure.

For investor purchasers, The Adelphi offers the prospect of long-term rental income streams supported by robust demand from professional occupiers. The 999-year leasehold tenure eliminates lease decay concerns that affect older freehold or shorter-tenure office buildings, preserving asset value over extended holding periods and supporting sustainable yield generation.

Investment Considerations and Market Position

Office space in the City Hall CBD has historically demonstrated resilience through market cycles, supported by the concentrated presence of multinational corporations, government agencies, and established professional practices. The Adelphi's modern amenities and efficient layouts position it competitively against comparable office stock in the immediate vicinity. Vacant possession availability provides immediate occupancy options for owner-occupiers or rapid rental deployment for investors seeking to establish income from purchase.

The 999-year leasehold structure ensures that the asset does not experience the lease decay discount that applies to shorter-tenure properties as they age. This structural advantage supports capital retention and delivers greater certainty for long-term investors concerned with resale marketability and valuation stability. The development's location within a primary business district further underpins demand elasticity, as the City Hall precinct continues to attract multinational corporations and professional service providers seeking premium addresses.

Market Dynamics and Future Outlook

Singapore's Central Business District remains undersupplied relative to sustained corporate demand, particularly for offices meeting modern environmental and design standards. The Adelphi's competitive specifications position it well within this constrained supply environment, supporting pricing stability and rental growth potential over medium-to-long investment horizons. As corporations continue relocating to newer, more efficient buildings, older stock gradually exits corporate use, further strengthening the relative position of well-maintained, contemporary office spaces.

The Singapore government's continued focus on developing the CBD as a regional financial and professional services hub suggests sustained demand momentum for quality office accommodation. Ongoing urban renewal initiatives within the district reinforce the economic vitality and investment attractiveness of the precinct, supporting the outlook for office values and rental income generation.

Concluding Remarks

The Adelphi represents a considered acquisition opportunity for corporate occupiers seeking a prestigious City Hall address and investors targeting sustainable rental yields from well-located, modern office space. The combination of strategic location, efficient design, comprehensive amenities, and 999-year tenure creates a compelling investment proposition within Singapore's primary business district. Whether for owner-occupation or investment purchase, the development warrants serious consideration from parties seeking exposure to the City Hall CBD office market.

Frequently Asked Questions

What rental yield might an investor expect from purchasing an office unit at The Adelphi for letting purposes?

Office yields in the City Hall CBD typically range from 2.5% to 3.5% net annually, depending on unit size, tenancy stability, and market conditions. The Adelphi's premium location and modern specifications position it at the stronger end of this range, as professional service firms consistently seek established addresses. Investors should model rental income conservatively, accounting for potential vacancy periods and maintenance costs, though the sustained demand from law firms, accounting practices, and consultancies in the precinct historically supports high occupancy rates. Long-term rental growth is supported by limited new office supply in the primary CBD and continued corporate relocations to modern, efficient buildings.

How does the per-square-foot pricing of The Adelphi compare to recent office transactions in the City Hall area?

City Hall CBD office transactions have ranged from approximately S$8,000 to S$12,000 per square foot in recent years, depending on unit condition, floor level, and amenity provision. The Adelphi's modern finishes, high-ceiling specifications, and comprehensive building amenities position it within the upper-mid range of this valuation band, reflecting its competitive market position. Comparative analysis suggests pricing is consistent with recent comparable sales of modernised CBD office stock, particularly for units that arrive vacant and ready for immediate occupancy. Investors comparing The Adelphi to competing buildings should assess relative age, maintenance condition, and parking provision, all of which materially affect per-square-foot valuations.

What is the Additional Buyer's Stamp Duty (ABSD) impact for a Singapore Citizen purchasing a second office property at The Adelphi?

A Singapore Citizen purchasing a second residential property (which includes owner-occupied office space used as a home office or secondary residence) is subject to Additional Buyer's Stamp Duty at 20% on the purchase price, above standard Buyer's Stamp Duty rates. For a purchase price of S$4 million, this translates to an ABSD liability of S$800,000, materially affecting total acquisition cost and financing requirements. However, if the office is purchased purely for investment letting purposes without personal residential use, ABSD may not apply—buyers should seek professional tax advice to confirm their specific circumstances. Corporate purchasers (non-individual entities) are generally exempt from ABSD but remain subject to standard Buyer's Stamp Duty and potential foreign ownership restrictions, depending on entity structure.

Does lease decay represent a risk for The Adelphi office units, and how might this affect future resale value?

The Adelphi benefits from a 999-year leasehold tenure, which effectively eliminates lease decay risk over any meaningful human investment horizon, as the lease will not materially diminish in value for centuries. This structural advantage is particularly valuable compared to older freehold office buildings in the CBD, many of which trade at discounts to newer stock due to age and deferred maintenance. The 999-year tenure also simplifies future refinancing and sale transactions, as lenders and purchasers view such leases as equivalent to freehold for valuation purposes. Long-term investors can confidently hold The Adelphi without concern for lease length deterioration affecting capital value or rental marketability.

How does proximity to City Hall MRT Station (EW13) influence demand and capital appreciation potential for The Adelphi?

City Hall MRT Station is one of Singapore's most utilised transport nodes, serving as a junction point and interchange for corporate workers, government employees, and visitors accessing the CBD precinct. This exceptional connectivity directly enhances tenant appeal and supports sustained rental demand, as occupiers prioritise locations minimising employee commute times and facilitating client access. The four-minute walk from The Adelphi to the MRT station is considered premium-tier proximity for a CBD office building, reinforcing the development's competitive positioning and reducing occupier reliance on private vehicle transport. Capital appreciation historically correlates with transport accessibility, and The Adelphi's MRT proximity positions it well to benefit from sustained demand growth as Singapore's professional workforce continues expanding and transport infrastructure investments progress.

Is The Adelphi suitable for different buyer profiles, and what specific advantages apply to each?

High-net-worth individuals and family offices frequently acquire CBD office space as core portfolio holdings, valuing the income stability, location prestige, and capital preservation characteristics that The Adelphi delivers. Corporate upgraders moving from larger suburban offices benefit from the efficient layouts, modern amenities, and established address supporting professional credibility and client confidence. First-time office buyers and growing enterprises appreciate the comprehensive parking provision, central air-conditioning, and pantry facilities, which reduce operational complexities during early growth phases. Institutional investors and real estate funds view The Adelphi as a defensive asset within a diversified property portfolio, as CBD office values demonstrate lower volatility compared to speculative residential or suburban commercial properties. Each buyer profile should model their specific cost of capital and return expectations against The Adelphi's yield and capital appreciation outlook.

What are the TDSR and financing implications for a typical office purchase at The Adelphi?

Total Debt Service Ratio (TDSR) regulations limit residential property financing to 60% of gross monthly income, though investment property rules differ slightly depending on lender interpretation of office-use classifications. For a S$4 million office purchase with typical 70% loan-to-value financing, the borrowing requirement of approximately S$2.8 million translates to debt servicing costs of roughly S$13,000 to S$15,000 monthly at current interest rates. Owner-occupiers must demonstrate gross monthly household income exceeding S$21,000 to S$25,000 to meet TDSR thresholds, whilst investor purchasers should factor projected rental income into serviceability calculations. Banks typically apply more conservative lending criteria to commercial office properties compared to residential stock, and borrowers should confirm specific lender policies regarding office-use financing before finalising purchase plans.

How does The Adelphi compete against other established office buildings in the City Hall CBD, and what differentiates it?

The Adelphi competes directly with comparable modern office buildings in the immediate City Hall precinct, including established towers offering similar amenities and MRT proximity. Key competitive advantages centre on recent renovation specification, column-free open layouts, and comprehensive parking provision (382 lots), which exceed provision in some competing older buildings. The 999-year leasehold tenure removes lease decay concerns affecting some competing freehold properties, whilst vacant possession availability enables immediate occupancy or rapid rental deployment compared to buildings with occupancy delays. Relative to institutional-grade office buildings such as Raffles Place towers, The Adelphi offers a more intimate, less high-rise character suitable for professional partnerships valuing a less corporate feel whilst retaining CBD address prestige.

Which unit stack positions or floor levels within The Adelphi typically offer the best long-term value for purchase?

Mid-level floors (typically 5th to 12th storeys in a multi-storey building) historically demonstrate superior value in office buildings, as they avoid ground-floor noise and security concerns whilst delivering acceptable views without paying premium pricing for upper-level penthouses. Units benefiting from direct window glazing and natural light command rental premiums, making north or south-facing positions particularly valuable in Singapore's tropical climate. Floors positioned away from lift lobbies and lift noise tend to deliver superior occupant satisfaction and faster rental deployment, marginally supporting rental yield generation. Investors should prioritise units offering diverse use flexibility, as professional service firms increasingly seek smaller footprints due to hybrid working, making smaller units (1,000–1,500 sqft) more marketable than large single-occupier floors. The Adelphi's regular floor plate design simplifies unit comparison across levels, enabling straightforward analysis of value differences.

What is the future supply pipeline for office space in the City Hall district, and how might this affect The Adelphi's medium-term value?

Singapore's office supply pipeline for the City Hall precinct remains constrained relative to corporate demand, with limited major development sites remaining available for new office construction. Most development activity in the CBD is concentrated on mixed-use projects incorporating retail, residential, and office components, rather than pure-office towers, reducing direct supply pressure on specialist office operators. Government urban renewal initiatives focus on enhancing existing precinct vibrancy rather than expanding office capacity, supporting the scarcity value of established office buildings like The Adelphi. Medium-term demand growth is expected to exceed new supply additions, creating favourable conditions for capital appreciation and rental growth, though macroeconomic cycles and remote working patterns may introduce periodic demand softness. The Adelphi's established location and modern specifications position it well to capture demand inflows from multinational corporations seeking consolidated CBD bases as the office market stabilises post-pandemic.

Office At 1 Coleman Street — From S$1.4M