The Final Freehold Office Floor At 108 Robinson Road Is Up For Sale At $16.2M

The final unsold office floor at 108 Robinson Road has been launched for sale at a guide price of $16.2 million, which translates to approximately $3,725 psf.

The unit will be sold with an existing tenancy and is leased to homegrown co-working operator JustCo. However, the lease structure also provides flexibility for potential vacant possession.

It is the last office floor available for sale in the freehold strata-titled building, after nine of the ten floors listed were sold over the past 11 months.

The sale of the office unit is marketed by Savills Singapore and will be sold in an Expression of Interest (EOI) exercise.

This makes the unit suitable for investors seeking immediate rental income and rent stability, or corporate end-users planning for future occupation. Specifically, the office floor being offered for sale is fully fitted with quality office finishes, allowing owner-occupiers to move in with minimal additional capital expenditure.

A building that went from vintage to fully refurbished

The freehold building at 108 Robinson Road was acquired by PGIM’s real estate business for $143 million in 2021. The US investment manager then completed a comprehensive asset enhancement initiative (AEI) of the commercial property in 2023.

The upgrades included an overhaul of the building’s mechanical and electrical systems, new lifts and lift lobbies, and a refreshed double-volume arrival lobby. The building also received a new full-height glass facade and achieved BCA Green Mark Platinum certification.

Each office floor also features an exclusive lift lobby that is not part of the strata area, which means owners enjoy private, dedicated access without that space being included in the purchase area or contributing to maintenance charges.

“The repositioning was not cosmetic. It was undertaken to align the building with today’s occupier expectations – ESG compliance, modern specifications and a strong sense of arrival experience,” says Yap Hui Yee, executive director of Investment Sales & Capital Markets at Savills Singapore.

The building’s current tenant and occupier mix spans companies in the technology, fintech, cybersecurity and financial services sectors, including firms such as Singlife, Funding Societies, Group-IB and Check Point.

How the earlier floors were priced 

When the strata office floors at 108 Robinson were initially put up for sale by PGIM in March 2024, they received very strong buying interest.

Three floors were first transacted at $18.2 million each, or approximately $3,850 psf based on the strata area.

Followed by the sale of another three office floors (8, 11 and 12) that span 14,252 sq ft in June 2025. These units were purchased by Kwan Im Thong Hood Cho Temple for a combined $55.8 million, an average of approximately $3,915 psf.

“The earlier transactions established clear benchmarks within the building. This final floor benefits from that price discovery and is being offered at a compelling entry point relative to the earlier sales, particularly given that the space comes fully fitted,” says Yap.

The final floor is now offered at $3,725 psf, a price which Savills attributes to the floor’s position and fit-out, reducing the need for further capital outlay.

Buyers who have tracked the building’s sales history would note that this is the lowest psf among the later-stage deals. But whether that modest discount is sufficient to attract end users and investors will depend on how it compares with alternatives in the market today.

How does the price compare in the current market?

To put the guide price in context, freehold strata office supply in Singapore’s CBD has become structurally constrained in recent years.

In March 2022, URA restricted the strata subdivision of commercial properties in key parts of the Central Area, effectively capping the total number of strata office units that can exist along corridors such as Robinson Road, Shenton Way, Anson Road and Raffles Quay. 

Unlike residential condominiums, where new supply can be built from scratch, strata office floors in these areas can only change hands on the resale market. No new ones can be created. Against that backdrop, the handful of remaining freehold strata office assets in the CBD have attracted strong interest, and pricing has reflected that scarcity.

At Solitaire on Cecil, a 20-storey freehold development at 148 Cecil Street that is still under construction and scheduled for completion in 2028, floors were transacting in the $4,130 to $4,200 psf range in 2024.

More recently, Cecil Place, a newly launched 15-storey freehold strata office building at 137 Cecil Street, opened for sale at prices from $3,780 psf. Designed by DP Architects, the building offers 30 strata office units across a new development with a three-storey retail podium, and is expected to be completed next year.

Elsewhere in the precinct, a high-floor freehold strata 6,415 sq ft unit at Southpoint in Tanjong Pagar was recently launched for sale at $20.5 million, or $3,195 psf.

At 6 Raffles Quay, a freehold strata unit was launched in early 2024 at $18.8 million, or $3,765 psf, on vacant possession.

Alongside these comparables, the final floor at 108 Robinson Road is priced competitively. It sits below Solitaire on Cecil and 6 Raffles Quay on a psf basis, and offers the advantage of being an immediately ready and occupied building rather than a pre-completed asset.

What the buyer profile has looked like so far

The buyers at 108 Robinson Road to date have been a notably varied group of high-net-worth families, family offices and charitable organisations. The most prominent disclosed transaction was the June 2025 purchase by Kwan Im Thong Hood Cho Temple, which acquired three floors for a combined $55.8 million.

This buyer composition is worth noting as it speaks to the nature of freehold commercial ownership in Singapore.

Unlike leasehold assets, where buyers need to factor in the eventual erosion of tenure value, freehold ownership in the CBD is typically held as a long-term or generational store of value. For religious organisations and family offices in particular, the combination of freehold tenure and a prime, refurbished CBD address is a relatively rare match.

Additionally, commercial properties such as this are not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD), and foreigners are eligible to purchase.

This broadens the potential buyer pool beyond Singapore-based individuals and entities, and has historically contributed to demand for freehold strata offices in the CBD from regional buyers.

Outlook for the freehold office market

The restrictions on strata subdivision introduced by URA in 2022 are not a temporary measure. The intent is to prevent fragmented ownership of commercial buildings in the Central Area, and the policy has effectively closed the pipeline for new freehold strata offices along Robinson Road and the surrounding corridors.

The only buildings where freehold strata office supply continues to emerge are those that obtained subdivision approval before March 2022, or newly constructed buildings like Solitaire on Cecil and Cecil Place that were planned and approved under earlier frameworks.

As these buildings progressively dispose of their inventories, the available supply in the core CBD will continue to narrow.

“Singapore continues to serve as a regional headquarters hub and financial centre. While market cycles evolve, well-located, modernised buildings with strong sustainability credentials should continue to attract both occupier and investor demand,” says Yap.

108 Robinson Road was the first new freehold strata office building to be offered for sale in the CBD since Tahir Building, previously Crown@Robinson, which was launched in 2015, and before that, Oxley Tower in 2012. Given the supply constraints, the final floor at 108 Robinson Road may be one of the few opportunities of this type left in this corridor.

The EOI exercise for the sale of the final unsold office floor at 108 Robinson Road closes on 22 April.