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Following Savills Investment Management’s acquisition of SEB Asset Management, 77 Robinson Road has been put on the market again, marketing agent DTZ revealed Wednesday (2 September).
The sale comes four years after the last attempt to sell the office building.
77 Robinson Road offers a total net lettable area of approximately 293,818 sq ft, which includes 6,018 sq ft of retail space on prime street level and 180 car park lots translating to a ratio of 1 lot for every 1,632 sq ft of lettable area.
The office tower’s current tenants include Adidas Singapore, Bunge Agribusiness, Dentsu Asia, DVB Bank, Tokio Marine Life Insurance and Walt Disney Studios Sony Pictures Releasing.
Market analysts CommercialGuru spoke to said the property is expected to be priced at around $2,200 per sq ft based on the NLA, or close to $650m on a quantum basis.
According to DTZ, the sale presents “an excellent opportunity for value creation through asset enhancement programmes such as the refurbishment of office lobbies and other common areas, and expansion of the retail area.”
The expression of interest exercise will close 15 October.
Image source: Google Maps.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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