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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.

Meet the Team

Shuan Poh
Shaun Poh

Executive Director, Head of Capital Markets
Singapore, Singapore


+65 6232 0882

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Sim-Chee-Jin_Headshot_SG
Chee Jin Sim

Senior Director
Singapore, Singapore


+65 62320887

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