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The CPF Building at 79 Robinson Road has been put up for sale by public tender, marketing agent CBRE said Thursday (17 September).
This comes after the Central Provident Fund (CPF) Board signed a long-term lease to rent space at Novena Square Towers A and B for the board’s operation.
According to CBRE, the board’s relocation will “free up prime office space in the Central Business District for higher-value uses.” CPF offices housed at CPF building will be moving to Novena by Q4 2015, while the board’s service centre will continue to operate at Robinsons Road until further notice.
The landmark tower, which was completed in the 1970s, sits on a regularly-shaped site with an area of 47,056 sq ft. It currently features a net lettable area of 324,000 sq ft.
Zoned for commercial uses based on the 2014 Masterplan, the site can be redeveloped into a mixed-use development with office, retail and serviced apartments or a hotel, subject to approval from authorities, CBRE said.
The CPF Building is a 99-year lease tenure from 1968 and the tender exercise will close 28 October.
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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