CapitaLand Ascott Trust sells Robertson House in $360m deal

The transaction was priced at $1.1m per key.

CapitaLand Ascott Trust (CLAS) is divesting The Robertson House by The Crest Collection in Singapore to an unrelated third party for $360m.

The 336-unit hotel in Robertson Quay will be sold at 4% above its book value and reflects an exit yield of 2.3%, according to CLAS.

The property was valued at $346m as at 31 December 2025 by Colliers International Consultancy & Valuation (Singapore) Pte Ltd. The agreed price translates to close to S$1.1m per key.

CLAS said the transaction is expected to generate net proceeds of about $341.7m and a net gain of approximately $38.1m.

The gain comprises $5m recognised in the statement of total return and $33.1m recorded in revenue reserve as a realisation of asset revaluation reserves.

Completion is expected in the third quarter of 2026.

The net proceeds may be used for reinvestment into higher-yielding assets, asset enhancement initiatives, debt repayment, or general corporate purposes, said CLAS.

CLAS noted the divestment follows a valuation-based disposal approach, with pricing based on an independent valuation conducted as at 31 December 2025.

In Singapore, the trust’s portfolio includes Ascott Orchard Singapore, lyf one-north Singapore, lyf Funan Singapore, and Somerset Clarke Quay Singapore, which is under redevelopment and scheduled for completion around the end of 2026.

CLAS noted that the redevelopment is backed by an earlier engineering, procurement and construction contract valued at about $750m.