Stories
Robinson 112
01 The Deal
| Address | 112 Robinson Road, Robinson 112, Singapore 068902 |
|---|---|
| Property type | Office |
| GFA (sqm) | 92,205 sqm |
| Seller | Local Investor |
| Buyer | AM Alpha |
| Deal Structure | 100% interest |
02 The Challenge
The property had been on and off the market at above the market price and with a low NOI yield for more than a decade. Other key challenges were the building’s age, being close to 40 years old, and the absence of carparking within the property. The building’s age, coupled with work from home policies in response to the COVID-19 pandemic, has resulted in a low occupancy rate.
03 The Solution
The seller had been very particular on the confidentiality of the transaction given the holding structure. As such, Cushman & Wakefield (C&W) ran a very limited private treaty sale process by approaching only ten target buyers. The ten shortlisted investors were primarily bidders who had participated in a separate Expression of Interest Sale exercise conducted and transacted by C&W a few months prior to this transaction.
Given this is AM Alpha’s first acquisition in Singapore, C&W provided ample guidance on market practices together with research materials to support their underwriting.
04 The Result
The seller had been looking to divest the building for more than a decade, albeit always at above market price. At the transacted price, C&W has achieved a premium of more than 10% when compared to 108 Robinson Road, a similar office property one block away which was transacted just months before the subject property, exceeding our client’s expectation.
For AM Alpha, this marks their first property acquisition in Singapore. They are delighted to have finally acquired a prime freehold office building in Singapore’s core CBD and plan to embark on an Asset Enhancement Initiative to improve the property.
For AM Alpha, this marks their first property acquisition in Singapore. They are delighted to have finally acquired a prime freehold office building in Singapore’s core CBD and plan to embark on an Asset Enhancement Initiative to improve the property.
Meet the Team
