20 Sep '16, 10am

CLSA to do due diligence for 77 Robinson Rd

CLSA Capital Partners is said to have been selected to do exclusive due diligence for the purchase of 77 Robinson Road. The pricing is believed to be more than S$530 million, or slightly above S$1,800 per square foot based on the net lettable area (NLA) of nearly 293,270 sq ft. Formerly known as Singapore Airlines (SIA) Building, the 35-storey office tower is on a site with 99-year leasehold tenure that started on Feb 18, 1994; the balance lease tenure is about 76.5 years. What is interesting about CLSA being picked for exclusive due diligence is that it was an earlier CLSA-managed fund that had sold the office tower to the current owner - SEB ImmoInvest fund, which used to be managed by the former SEB Asset Management, which was then acquired by Savills Investment Management in September last year. The earlier CLSA fund had sold 77 Robinson Road in April 2007 for S$526 mi...

Full article: http://www.srx.com.sg/singapore-property-news/24022/clsa-...

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