By Andrew Batt:
The Muangthai Phatra Complex, a twin office tower complex on Ratchadapisek Road, successfully leased almost 10,000 square metres in the third quarter of 2012 to two well-known tenants – Sanook Online and Easy Buy – through sole leasing agent CBRE. The occupancy rate now stands at more than 95 percent.
Owned by Muang Thai Life Assurance Public Company Limited – Thailand’s leading insurance services company, the Muangthai Phatra Complex consists of two 35-storey towers, with a total lettable area of 70,200 square metres. The office towers are located on Rajadapisek Road and in close proximity to Suthisan MRT station.
In August 2012, the Office Services team at CBRE Thailand relocated Sanook Online, Thailand’s leading integrated internet service provider, to the Muangthai Phatra Complex by securing nearly 3,000 square metres of office space for its new head office.
Just a month later, the CBRE’s Office Services team successfully secured approximately 6,800 square metres of office space at the Muangthai Phatra Complex for Easy Buy, a leading Japanese consumer finance company, for use as its new base for call centre operations. This deal is one of the largest office leasing transactions in Bangkok in 2012.
“The key to this successful transaction was the smooth collaboration between our Office Landlord Representation team, the Office Tenant Representation team, and the Japan Desk teams,” said Nithipat Tongpun, Executive Director and Head of Office Services at CBRE Thailand.
Currently, the asking rental of the Muangthai Phatra Complex is THB 500 – 550 per sqm/per month and less than 5 percent of its office space is now available for rent. Apart from office space, the property also has a 4-storey retail podium with a wide range of facilities.
Pictured are Takeharu Uematsu (3rd from left), Vice President and CEO of Easy Buy Public Company Limited. exchanging the office leasing agreements with Sara Lamsam (3rd from right), President and CEO of Muang Thai Life Assurance Public Company Limited, the owner of the Muangthai Phatra Complex on Ratchadapisek Road. The deal was witnessed by Nithipat Tongpun (right), Executive Director of CBRE Thailand, the sole agent for Muangthai Phatra Complex, and other executives from all parties.
Easy Buy will use the 6,800-square-metre office space for a new call centre operations. The transaction, closed by CBRE Thailand, is one of the largest office leasing deals in Bangkok in 2012.
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