PGIM fully divests 108 Robinson Road after final strata sale

Final Grade A office floor carried a $16.2m guide price. 

PGIM Real Estate Investment Group has completed the sale of 108 Robinson Road, according to marketing agent Savills Singapore.

The transaction of the final strata office floor marks the full divestment of the freehold Grade A office development in the Central Business District.

The final office floor was launched for sale in March through an Expression of Interest exercise with a guide price of $16.2m, or about $3,725 per square foot. 

The group acquired the 12-storey commercial building in 2021. Savills’ Investment Sales & Capital Markets team worked with PGIM on the phased strata divestment.

Su Lin W., executive director and head of asset management for Southeast Asia, China and Hong Kong real estate at PGIM, said the sale was part of the firm’s value-add strategy for the asset.

“We enhanced the asset’s positioning and offered investors a distinctive opportunity to enter Singapore’s supply-constrained office market,” she said.