SINGAPORE — The 12-storey freehold office building 110 Robinson Road has been put up for sale at an indicative price of S$45 million, said sole marketing agent Cushman & Wakefield yesterday, as the revival in investor demand for prime office space in the Republic’s Central Business District (CBD) gathers momentum.

Singapore continues to see a strong inflow of foreign liquidity seeking prime office assets in the CBD, said Cushman & Wakefield, with overseas investors accounting for the lion’s share of the office building sale deals in the Republic in recent months.

Among the several high-profile acquisitions this year, Qatar Investment Authority bought Asia Square Tower 1 for S$3.4 billion from BlackRock, the world’s largest asset-management company; Indonesian tycoon Tahir purchased Straits Trading Building for S$560 million from Sun Venture, while CapitaLand Commercial Trust took a 60 per cent stake in CapitaGreen for S$960.3 million.

Other prime office properties up for sale include the former SIA Building at 77 Robinson Road at a guide price of S$575 million, as well as Tower Fifteen at 15 Hoe Chiang Road, a 29-storey office tower that includes an annex three-storey hotel podium.

110 Robinson Road, built in the 1980s, comprises 11 office floors with a retail unit on the ground floor that is currently tenanted to a dental clinic. Sitting on freehold land of approximately 1,853sqf, the property has a net lettable area of 14,223sqf.

According to the 2014 Master Plan, it is zoned for commercial use with a plot ratio of 11.2, and building height of up to 35 storeys, said Cushman & Wakefield.

“This sale represents a great opportunity for an investor to acquire a rare bite-sized freehold office building along the coveted Robinson Road in Singapore’s CBD,” said Mr Shaun Poh, executive director of Capital Markets at Cushman & Wakefield.

“Even before the owner decided to put the property on the market, it has proven to be highly sought-after as various unsolicited offers have been made to the owner. It is ideal for institutional fund groups, corporate end users, high net worth individuals, as well as boutique developers who are looking to redevelop it for strata sale.”

Located along Robinson Road, the property is easily accessible by both public and private transportation with five MRT stations — Raffles Place, Telok Ayer, Downtown, Tanjong Pagar and Shenton Way (upcoming) — within a 500m radius. Accessibility is further enhanced by its proximity to major trunk roads such as Shenton Way, Cross Street and expressways such as Central Expressway and East Coast Expressway, said Cushman & Wakefield.

In the residential space, big-ticket deals this year included the S$638 million Shunfu Ville acquisition by China’s Qingjian Realty and the purchase of 9 Cuscaden Road for S$145 million by Hong Kong’s Shun Tak Holdings.

The 110 Robinson Road sale will be executed through a tender closing on July 26, said Cushman & Wakefield.