Keppel Land's property fund management arm Alpha Investment Partners has appointed CBRE and JLL to jointly market its 50 per cent stake in Capital Square in Singapore's CBD.
The property comprises a 16-storey office building with supporting retail amenity and heritage shophouses.
Capital Square was completed in 1998 and is on a site with about 80 years' balance lease.
The property has a total net lettable area of about 388,215 sq ft.
The pricing is expected to be around S$2,800 per square foot, which would translate to around S$1.09 billion for the entire asset. So the half-stake would translate to around S$543.5 million.
CBRE and JLL will conduct an expression of interest campaign starting in April this year.