CapitaLand Ascott Trust to sell Singapore hotel for $281m

Hospitality spot CapitaLand Ascott Trust (CLAS) is acceptable to divest The Robertson House by The Crest Collection successful Singapore for S$360m ($281m).

Sold to an unrelated 3rd party, the woody is expected to implicit successful the 3rd 4th of 2026.

According to CLAS, the 336-unit edifice is being sold astatine 4% supra its publication value, resulting successful a nett summation of astir S$38.1m.

The transaction represents an exit output of 2.3%. Net proceeds from the merchantability are reported astatine S$341.7m.

Following the transaction, CLAS volition proceed to person a beingness successful Singapore with 4 lodging properties. These see Ascott Orchard Singapore, lyf Funan Singapore, and lyf one-north Singapore, each of which are presently operational.

The 4th property, Somerset Clarke Quay Singapore, is undergoing redevelopment. The 192-unit serviced residence is expected to beryllium completed by the extremity of this twelvemonth and is projected to commencement contributing income from aboriginal 2027.

Somerset Clarke Quay Singapore is located successful the Clarke Quay precinct and volition connection nonstop entree to Fort Canning MRT station, with stream and elevation views.

In the archetypal 4th of 2026, CLAS reported a 2% year-on-year summation successful gross per disposable portion successful its Singapore portfolio. This maturation was attributed to higher occupancy rates.

CLAS absorption CEO Serena Teo said: “The divestment of The Robertson House by The Crest Collection astatine an charismatic terms of adjacent to S$1.1m per cardinal underscores CLAS’ disciplined attack to portfolio reconstitution.

“It further enhances CLAS’ fiscal flexibility, enabling america to redeploy the proceeds into higher-yielding properties, enactment our plus enhancement initiatives (AEIs), repay higher-interest debt, and/or money wide firm purposes.

“We volition proceed to prosecute value-accretive opportunities successful Singapore and different developed markets to fortify the resilience of our portfolio.”

In summation to activities successful Singapore, CLAS is continuing with AEIs and redevelopment projects successful respective locations.

Four properties are scheduled for AEIs successful 2026 and 2027. These see Citadines Place d’Italie Paris, The Cavendish London, Sotetsu Grand Fresa Osaka-Namba, and Sheraton Tribeca New York Hotel.

As of 31 March 2026, CLAS's plus worth stood astatine S$8.9bn. The spot invests chiefly successful income-producing existent estate, including serviced residences, rental housing, pupil accommodation and different hospitality assets globally.

"CapitaLand Ascott Trust to merchantability Singapore edifice for $281m" was primitively created and published by Hotel Management Network, a GlobalData owned brand.