diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
index 60ec158b53..3ae9e9ce88 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/RegularElement.js
@@ -12,7 +12,8 @@ import {
 	process_children,
 	build_template,
 	build_attribute_value,
-	call_child_renderer
+	call_child_renderer,
+	PromiseOptimiser
 } from './shared/utils.js';
 
 /**
@@ -32,8 +33,10 @@ export function RegularElement(node, context) {
 
 	const node_is_void = is_void(node.name);
 
+	const optimiser = new PromiseOptimiser();
+
 	context.state.template.push(b.literal(`<${node.name}`));
-	const body = build_element_attributes(node, { ...context, state });
+	const body = build_element_attributes(node, { ...context, state }, optimiser.transform);
 	context.state.template.push(b.literal(node_is_void ? '/>' : '>')); // add `/>` for XHTML compliance
 
 	if ((node.name === 'script' || node.name === 'style') && node.fragment.nodes.length === 1) {
@@ -93,26 +96,26 @@ export function RegularElement(node, context) {
 			select_with_value = true;
 			select_with_value_async ||= spread.metadata.expression.has_await;
 
+			const { object, has_await } = build_spread_object(
+				node,
+				node.attributes.filter(
+					(attribute) =>
+						attribute.type === 'Attribute' ||
+						attribute.type === 'BindDirective' ||
+						attribute.type === 'SpreadAttribute'
+				),
+				context,
+				optimiser.transform
+			);
+
+			// TODO use has_await
+
 			state.template.push(
 				b.stmt(
 					b.assignment(
 						'=',
 						b.id('$$renderer.local.select_value'),
-						b.member(
-							build_spread_object(
-								node,
-								node.attributes.filter(
-									(attribute) =>
-										attribute.type === 'Attribute' ||
-										attribute.type === 'BindDirective' ||
-										attribute.type === 'SpreadAttribute'
-								),
-								context
-							),
-							'value',
-							false,
-							true
-						)
+						b.member(object, 'value', false, true)
 					)
 				)
 			);
@@ -128,7 +131,13 @@ export function RegularElement(node, context) {
 			const left = b.id('$$renderer.local.select_value');
 			if (value.type === 'Attribute') {
 				state.template.push(
-					b.stmt(b.assignment('=', left, build_attribute_value(value.value, context)))
+					b.stmt(
+						b.assignment(
+							'=',
+							left,
+							build_attribute_value(value.value, context, false, false, optimiser.transform)
+						)
+					)
 				);
 			} else if (value.type === 'BindDirective') {
 				state.template.push(
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteBoundary.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteBoundary.js
index 2e116f57d8..582d78249f 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteBoundary.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteBoundary.js
@@ -23,7 +23,13 @@ export function SvelteBoundary(node, context) {
 	if (pending_attribute || pending_snippet) {
 		const pending = pending_attribute
 			? b.call(
-					build_attribute_value(pending_attribute.value, context, false, true),
+					build_attribute_value(
+						pending_attribute.value,
+						context,
+						false,
+						true,
+						(expression) => expression
+					),
 					b.id('$$renderer')
 				)
 			: /** @type {BlockStatement} */ (context.visit(pending_snippet.body));
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteElement.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteElement.js
index 6ca0997bb6..cc57a94afe 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/SvelteElement.js
@@ -6,7 +6,7 @@ import { dev, locator } from '../../../../state.js';
 import * as b from '#compiler/builders';
 import { determine_namespace_for_children } from '../../utils.js';
 import { build_element_attributes } from './shared/element.js';
-import { build_template } from './shared/utils.js';
+import { build_template, PromiseOptimiser } from './shared/utils.js';
 
 /**
  * @param {AST.SvelteElement} node
@@ -37,7 +37,10 @@ export function SvelteElement(node, context) {
 		init: []
 	};
 
-	build_element_attributes(node, { ...context, state });
+	// TODO use this
+	const optimiser = new PromiseOptimiser();
+
+	build_element_attributes(node, { ...context, state }, optimiser.transform);
 
 	if (dev) {
 		const location = /** @type {Location} */ (locator(node.start));
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
index fbd3a22b1c..ae71faf60b 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/element.js
@@ -1,5 +1,5 @@
 /** @import { ArrayExpression, Expression, Literal, ObjectExpression } from 'estree' */
-/** @import { AST } from '#compiler' */
+/** @import { AST, ExpressionMetadata } from '#compiler' */
 /** @import { ComponentContext, ComponentServerTransformState } from '../../types.js' */
 import { is_event_attribute, is_text_attribute } from '../../../../../utils/ast.js';
 import { binding_properties } from '../../../../bindings.js';
@@ -30,8 +30,9 @@ const WHITESPACE_INSENSITIVE_ATTRIBUTES = ['class', 'style'];
  * their output to be the child content instead. In this case, an object is returned.
  * @param {AST.RegularElement | AST.SvelteElement} node
  * @param {import('zimmerframe').Context<AST.SvelteNode, ComponentServerTransformState>} context
+ * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
-export function build_element_attributes(node, context) {
+export function build_element_attributes(node, context, transform) {
 	/** @type {Array<AST.Attribute | AST.SpreadAttribute>} */
 	const attributes = [];
 
@@ -62,7 +63,11 @@ export function build_element_attributes(node, context) {
 						// also see related code in analysis phase
 						attribute.value[0].data = '\n' + attribute.value[0].data;
 					}
-					content = b.call('$.escape', build_attribute_value(attribute.value, context));
+
+					content = b.call(
+						'$.escape',
+						build_attribute_value(attribute.value, context, false, false, transform)
+					);
 				} else if (node.name !== 'select') {
 					// omit value attribute for select elements, it's irrelevant for the initially selected value and has no
 					// effect on the selected value after the user interacts with the select element (the value _property_ does, but not the attribute)
@@ -150,12 +155,12 @@ export function build_element_attributes(node, context) {
 							expression: is_checkbox
 								? b.call(
 										b.member(attribute.expression, 'includes'),
-										build_attribute_value(value_attribute.value, context)
+										build_attribute_value(value_attribute.value, context, false, false, transform)
 									)
 								: b.binary(
 										'===',
 										attribute.expression,
-										build_attribute_value(value_attribute.value, context)
+										build_attribute_value(value_attribute.value, context, false, false, transform)
 									),
 							metadata: {
 								expression: create_expression_metadata()
@@ -202,28 +207,34 @@ export function build_element_attributes(node, context) {
 	}
 
 	if (has_spread) {
-		build_element_spread_attributes(node, attributes, style_directives, class_directives, context);
+		build_element_spread_attributes(
+			node,
+			attributes,
+			style_directives,
+			class_directives,
+			context,
+			transform
+		);
+
 		if (node.name === 'option') {
+			// TODO this is all wrong, it inlines the spread twice
+
+			const { object, has_await } = build_spread_object(
+				node,
+				node.attributes.filter(
+					(attribute) =>
+						attribute.type === 'Attribute' ||
+						attribute.type === 'BindDirective' ||
+						attribute.type === 'SpreadAttribute'
+				),
+				context,
+				transform
+			);
+
+			// TODO use has_await?
+
 			context.state.template.push(
-				b.call(
-					'$.maybe_selected',
-					b.id('$$renderer'),
-					b.member(
-						build_spread_object(
-							node,
-							node.attributes.filter(
-								(attribute) =>
-									attribute.type === 'Attribute' ||
-									attribute.type === 'BindDirective' ||
-									attribute.type === 'SpreadAttribute'
-							),
-							context
-						),
-						'value',
-						false,
-						true
-					)
-				)
+				b.call('$.maybe_selected', b.id('$$renderer'), b.member(object, 'value', false, true))
 			);
 		}
 	} else {
@@ -240,7 +251,9 @@ export function build_element_attributes(node, context) {
 					build_attribute_value(
 						attribute.value,
 						context,
-						WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name)
+						WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name),
+						false,
+						transform
 					)
 				).value;
 
@@ -276,7 +289,9 @@ export function build_element_attributes(node, context) {
 			const value = build_attribute_value(
 				attribute.value,
 				context,
-				WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name)
+				WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name),
+				false,
+				transform
 			);
 
 			// pre-escape and inline literal attributes :
@@ -286,9 +301,11 @@ export function build_element_attributes(node, context) {
 				}
 				context.state.template.push(b.literal(` ${name}="${escape_html(value.value, true)}"`));
 			} else if (name === 'class') {
-				context.state.template.push(build_attr_class(class_directives, value, context, css_hash));
+				context.state.template.push(
+					build_attr_class(class_directives, value, context, css_hash, transform)
+				);
 			} else if (name === 'style') {
-				context.state.template.push(build_attr_style(style_directives, value, context));
+				context.state.template.push(build_attr_style(style_directives, value, context, transform));
 			} else {
 				context.state.template.push(
 					b.call('$.attr', b.literal(name), value, is_boolean_attribute(name) && b.true)
@@ -328,17 +345,25 @@ function get_attribute_name(element, attribute) {
  * @param {AST.RegularElement | AST.SvelteElement} element
  * @param {Array<AST.Attribute | AST.SpreadAttribute | AST.BindDirective>} attributes
  * @param {ComponentContext} context
+ * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
-export function build_spread_object(element, attributes, context) {
-	return b.object(
+export function build_spread_object(element, attributes, context, transform) {
+	let has_await = false;
+
+	const object = b.object(
 		attributes.map((attribute) => {
 			if (attribute.type === 'Attribute') {
 				const name = get_attribute_name(element, attribute);
 				const value = build_attribute_value(
 					attribute.value,
 					context,
-					WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name)
+					WHITESPACE_INSENSITIVE_ATTRIBUTES.includes(name),
+					false,
+					transform
 				);
+
+				// TODO check has_await
+
 				return b.prop('init', b.key(name), value);
 			} else if (attribute.type === 'BindDirective') {
 				const name = get_attribute_name(element, attribute);
@@ -346,12 +371,17 @@ export function build_spread_object(element, attributes, context) {
 					attribute.expression.type === 'SequenceExpression'
 						? b.call(attribute.expression.expressions[0])
 						: /** @type {Expression} */ (context.visit(attribute.expression));
+
 				return b.prop('init', b.key(name), value);
 			}
 
+			has_await ||= attribute.metadata.expression.has_await;
+
 			return b.spread(/** @type {Expression} */ (context.visit(attribute)));
 		})
 	);
+
+	return { object, has_await };
 }
 
 /**
@@ -361,39 +391,48 @@ export function build_spread_object(element, attributes, context) {
  * @param {AST.StyleDirective[]} style_directives
  * @param {AST.ClassDirective[]} class_directives
  * @param {ComponentContext} context
+ * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
 function build_element_spread_attributes(
 	element,
 	attributes,
 	style_directives,
 	class_directives,
-	context
+	context,
+	transform
 ) {
 	let classes;
 	let styles;
 	let flags = 0;
 
+	let has_await = false;
+
 	if (class_directives.length) {
-		const properties = class_directives.map((directive) =>
-			b.init(
+		const properties = class_directives.map((directive) => {
+			has_await ||= directive.metadata.expression.has_await;
+
+			return b.init(
 				directive.name,
 				directive.expression.type === 'Identifier' && directive.expression.name === directive.name
 					? b.id(directive.name)
 					: /** @type {Expression} */ (context.visit(directive.expression))
-			)
-		);
+			);
+		});
+
 		classes = b.object(properties);
 	}
 
 	if (style_directives.length > 0) {
-		const properties = style_directives.map((directive) =>
-			b.init(
+		const properties = style_directives.map((directive) => {
+			has_await ||= directive.metadata.expression.has_await;
+
+			return b.init(
 				directive.name,
 				directive.value === true
 					? b.id(directive.name)
-					: build_attribute_value(directive.value, context, true)
-			)
-		);
+					: build_attribute_value(directive.value, context, true, false, transform)
+			);
+		});
 
 		styles = b.object(properties);
 	}
@@ -406,15 +445,23 @@ function build_element_spread_attributes(
 		flags |= ELEMENT_IS_INPUT;
 	}
 
-	const object = build_spread_object(element, attributes, context);
+	const spread = build_spread_object(element, attributes, context, transform);
 
 	const css_hash =
 		element.metadata.scoped && context.state.analysis.css.hash
 			? b.literal(context.state.analysis.css.hash)
-			: b.null;
+			: undefined;
+
+	const args = [spread.object, css_hash, classes, styles, flags ? b.literal(flags) : undefined];
+
+	let call = b.call('$.attributes', ...args);
 
-	const args = [object, css_hash, classes, styles, flags ? b.literal(flags) : undefined];
-	context.state.template.push(b.call('$.spread_attributes', ...args));
+	if (spread.has_await) {
+		call = b.call('$$renderer.push', b.thunk(call, true));
+		context.state.template.push(b.stmt(call));
+	} else {
+		context.state.template.push(call);
+	}
 }
 
 /**
@@ -423,8 +470,9 @@ function build_element_spread_attributes(
  * @param {Expression} expression
  * @param {ComponentContext} context
  * @param {string | null} hash
+ * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
-function build_attr_class(class_directives, expression, context, hash) {
+function build_attr_class(class_directives, expression, context, hash, transform) {
 	/** @type {ObjectExpression | undefined} */
 	let directives;
 
@@ -434,7 +482,10 @@ function build_attr_class(class_directives, expression, context, hash) {
 				b.prop(
 					'init',
 					b.literal(directive.name),
-					/** @type {Expression} */ (context.visit(directive.expression, context.state))
+					transform(
+						/** @type {Expression} */ (context.visit(directive.expression, context.state)),
+						directive.metadata.expression
+					)
 				)
 			)
 		);
@@ -457,9 +508,10 @@ function build_attr_class(class_directives, expression, context, hash) {
  *
  * @param {AST.StyleDirective[]} style_directives
  * @param {Expression} expression
- * @param {ComponentContext} context
+ * @param {ComponentContext} context,
+ * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  */
-function build_attr_style(style_directives, expression, context) {
+function build_attr_style(style_directives, expression, context, transform) {
 	/** @type {ArrayExpression | ObjectExpression | undefined} */
 	let directives;
 
@@ -471,7 +523,7 @@ function build_attr_style(style_directives, expression, context) {
 			const expression =
 				directive.value === true
 					? b.id(directive.name)
-					: build_attribute_value(directive.value, context, true);
+					: build_attribute_value(directive.value, context, true, false, transform);
 
 			let name = directive.name;
 			if (name[0] !== '-' || name[1] !== '-') {
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
index 5e2b34496f..e7a31b5f07 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
@@ -175,13 +175,7 @@ export function build_template(template) {
  * @param {(expression: Expression, metadata: ExpressionMetadata) => Expression} transform
  * @returns {Expression}
  */
-export function build_attribute_value(
-	value,
-	context,
-	trim_whitespace = false,
-	is_component = false,
-	transform = (expression) => expression
-) {
+export function build_attribute_value(value, context, trim_whitespace, is_component, transform) {
 	if (value === true) {
 		return b.true;
 	}
diff --git a/packages/svelte/src/internal/server/index.js b/packages/svelte/src/internal/server/index.js
index 1e2d75d6dc..436be6c021 100644
--- a/packages/svelte/src/internal/server/index.js
+++ b/packages/svelte/src/internal/server/index.js
@@ -108,13 +108,13 @@ export function css_props(renderer, is_html, props, component, dynamic = false)
 
 /**
  * @param {Record<string, unknown>} attrs
- * @param {string | null} css_hash
+ * @param {string} [css_hash]
  * @param {Record<string, boolean>} [classes]
  * @param {Record<string, string>} [styles]
  * @param {number} [flags]
  * @returns {string}
  */
-export function spread_attributes(attrs, css_hash, classes, styles, flags = 0) {
+export function attributes(attrs, css_hash, classes, styles, flags = 0) {
 	if (styles) {
 		attrs.style = to_style(attrs.style, styles);
 	}
diff --git a/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/Child.svelte b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/Child.svelte
new file mode 100644
index 0000000000..ab87364cb7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/Child.svelte
@@ -0,0 +1,5 @@
+<script>
+	let { thing } = $props();
+</script>
+
+<p>{thing}</p>
diff --git a/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/_config.js b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/_config.js
new file mode 100644
index 0000000000..8975978e17
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/_config.js
@@ -0,0 +1,24 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	skip_mode: ['async-server'],
+
+	async test({ assert, target }) {
+		await tick();
+
+		assert.htmlEqual(
+			target.innerHTML,
+			`
+				<p class="cool">cool</p>
+				<p>beans</p>
+
+				<p class="awesome">awesome</p>
+				<p>sauce</p>
+
+				<p class="neato">neato</p>
+				<p>potato</p>
+			`
+		);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/main.svelte
new file mode 100644
index 0000000000..b0ec462bb7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-no-pending-attributes/main.svelte
@@ -0,0 +1,12 @@
+<script>
+	import Child from './Child.svelte';
+</script>
+
+<p {...await { class: 'cool'}}>cool</p>
+<Child {...await { thing: 'beans' }} />
+
+<p class={await 'awesome'}>awesome</p>
+<Child thing={await 'sauce'} />
+
+<p {...{}} class={await 'neato'}>neato</p>
+<Child {...{}} thing={await 'potato'} />