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Savills offers 77 Robinson Road for sale

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Savills Investment Management is seeking bids through Oct 15 for the 35-storey 77 Robinson Road office tower in the central business district, sole agent DTZ Debenham Tie Leung (SEA) announced on Wednesday.

SAVILLS Investment Management is seeking bids through Oct 15 for the 35-storey 77 Robinson Road office tower in the central business district, sole agent DTZ Debenham Tie Leung (SEA) announced on Wednesday.

The property holds 293,818 square feet of net lettable area, including 6,018 sq ft of retail space at street level and 180 car park lots.

Existing tenants include Adidas Singapore, Bunge Agribusiness, Dentsu Asia, DVB Bank, Tokio Marine Life Insurance and Walt Disney Studios Sony Pictures Releasing.

Market watchers told The Business Times on Tuesday that price expectations were around S$2,200 per square foot of net lettable area, which would work out to about S$649 million.

SEB Asset Management, which has since been acquired by Savills, last offered the property in 2011. Market talk back then was for a price of S$2,300 to S$2,500 psf, or about S$678.5 million to S$737.5 million.