Kwan Im Thong Hood Cho Temple buys 3 floors of Robinson Road office building for S$55.8 million

Three floors of a 12-storey freehold office building at 108 Robinson Road are being sold for S$55.8 million to four trustees of Kwan Im Thong Hood Cho Temple.

The four trustees were granted to and exercised an option to purchase the eighth, 11, and 12 floors of the building, The Business Times (BT) reported.

Kwan Im Thong Hood Cho Temple is a charitable organisation that provides a place of worship for Buddhists on Waterloo Street.

The temple also donates income monies to various causes determined by trustees.

Three floors sold

The 12th floor of 108 Robinson Road, which spans about 4,735 sq ft, was sold for S$18.7 million, or S$3,950 psf, reported BT.

Both the eighth and 11th floor span 4,758 sq ft each.

The 11th floor is being sold for S$18.66 million, or S$3,921 psf.

The eighth floor is being sold for S$18.4 million, or S$3,875 psf.

The three floors were sold by PGIM Real Estate (PGIM RE), which launched strata sales in 108 Robinson Road last year, following an extensive revamp of the asset in mid-2023.

PGIM RE purchased the building, previously known as Finexis Building, in April 2021 for US$107 million (S$138 million) as part of its expansion strategy into Asia.

PGIM RE is the real estate investment division of PGIM, the global asset management business of US-based Prudential Financial.

Situated in Singapore's central business district

The building, situated in Singapore's central business district, comprises retail space on the first two floors, and office space from levels 3 to 12, according to BT.

The property is also subdivided into 11 strata units.

Offices on levels three to 12 have one strata title per level.

The majority of these 10 office floors have a strata area of over 4,700 sq ft each, though levels three and four are smaller, at 4,349 sq ft and 4,628 sq ft, respectively.

Following the recent sale of levels eight, 11, and 12, only the 6,727 sq ft duplex retail unit on the first two levels and the office floor on level three are still available.

Top image via 108robinsonroad.com