Subscribers

71 Robinson Road quietly put on the market

The property has been offered to potential buyers at S$2,850 psf - below the S$3,125 psf, its 2008 selling price

Singapore

STEALTH marketing is going on at 71 Robinson Road, which was last transacted in April 2008 at a then-record price of S$3,125 per square foot.

The Business Times understands that an expression-of-interest exercise to find a buyer for the 15-storey office block began without publicity in April, with the appointed marketing agents, CBRE and JLL, approaching a small pool of potential buyers.

Submissions of offers by potential buyers were made last month; building owner Commerz Real is still in talks with shortlisted parties, BT understands.

The word in the street is that the building, with almost 74 years of its leasehold tenure left, was presented to the market with an indicative pricing of...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes