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Afro-Asia Shipping, Shimizu to redevelop Robinson Road office block for S$320m

SK112 1 Perspective Robinson Rd(1).jpg
Afro-Asia Shipping and Shimizu Corporation Investment and Development Division announced their joint venture to redevelop Afro-Asia Building, one of the oldest office blocks along Robinson Road in Singapore’s Central Business District (CBD), into a brand new Grade A office building This is a perspective of the building when completed.

AFRO-ASIA Shipping (AAS) and Shimizu Corporation Investment and Development Division on Tuesday announced their joint venture (JV) to redevelop Afro-Asia Building, an office block along Robinson Road in Singapore's Central Business District.

The approximately 60-year-old building will be redeveloped into a new Grade A office building.

AAS will be transferring its lease rights to the JV, Robinson Development, while retaining a controlling interest in the JV company.

The total cost for the entire project is more than S$320 million. Robinson Development will fund the construction costs with loans.

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Shimizu will carry out the demolition this November, and construction is expected to start in April 2018, with completion scheduled for mid-2020.

The redevelopment will bring in the latest eco-friendly designs and technology from Japan, as well as flexible and efficient space "with a modern touch", Shimizu said.

It will also adopt green technologies such as efficient air-conditioning management, cleaning and maintenance services, as well as a rooftop garden.

There are also plans to get the development certified under the Green Mark Platinum and LEED Platinum standards.

The building is currently seven storeys high with a four-storey annexe. It will be redeveloped into a 19-storey development with a total gross floor area of 16,908 square metres. It will also have a food & beverage component on the ground floor, with office spaces from levels seven to 18.

Cushman & Wakefield's capital markets team was the adviser for the transaction.

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