CICT Buys 70% Stake in Singapore Office Tower

News about CapitaLand Integrated Commercial Trust

CapitaLand Integrated Commercial Trust is announcing the acquisition of a 70% stake in 79 Robinson Road, a newer office building in Singapore's Central Business District, for S$882.0 million.

The Grade A office, completed in 2020, has a long WALE of 5.8 years and is 92.9% occupied but is built on a 99 year leasehold plot, with only 45 years left.

The purchase, which is expected to be yield-accretive, will be internally funded.

CapitaLand Integrated Commercial Trust
Price2.270 SGD
NAV2.060 SGD
Yield (4 quarters)4.58%
Gearing39.1%