Nov 22, 2011
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A Taiwanese investor may acquire Robinson Centre for approximately S$300 million, around S$2,240 psf of net lettable area (NLA), according to The Business Times.
The prospective investor is a unit of Homax Real Estate Corporation, a privately held property investment firm, believed to be linked to the Liu family in Taiwan.
The 20-storey office tower is being sold by Alpha Core Real Estate Fund, managed by a unit of Keppel Land, through an Expression of Interest (EOI) exercise that closed on 8 Sept 2011. Sole marketing agent CBRE said the price being paid by the Taiwanese investor could reflect a net yield of around 3.5 percent, based on the building’s current rental income stream.
Completed 11 years ago, the office tower has a large entrance lobby and 71 parking lots. Currently, 97 percent of its 132,200 sq ft NLA is occupied by major tenants, including GuocoLand, Mercer and the Mediterranean Shipping Company.
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