CapitaLand Ascott Trust (CLAS) is divesting The Robertson House by The Crest Collection in Singapore to an unrelated third party for $360.0 million. The 336-unit hotel will be divested at 4.0% above book value and an exit yield of 2.3%.
The net proceeds from the divestment are $341.7 million and CLAS will recognise a net gain of approximately $38.1 million. The transaction is expected to be completed in 3Q2026.
Post-divestment, CLAS will have four lodging properties in Singapore. Three properties – Ascott Orchard Singapore, lyf one-north Singapore and lyf Funan Singapore – are operational. The fourth property, Somerset Clarke Quay Singapore, is currently under redevelopment. The 192-unit serviced residence with a hotel licence is on track to complete around the end of 2026 and is expected to begin contributing income progressively from early 2027. Somerset Clarke Quay Singapore offers direct connectivity to Fort Canning MRT station and dual frontages facing the scenic Singapore River and Fort Canning Hill.
In 1Q 2026, CLAS’ Singapore portfolio saw revenue per available unit growth of 2% y-on-y, driven by higher occupancy. Pipeline of AEIs and development projects provides capacity for future growth In addition to the redevelopment of Somerset Clarke Quay Singapore, CLAS has four properties undergoing AEIs in 2026 and 2027. These properties are Citadines Place d’Italie Paris in France, The Cavendish London in the United Kingdom, Sotetsu Grand Fresa Osaka-Namba in Japan, and Sheraton Tribeca New York Hotel in the United States. The AEIs will enhance the assets’ positioning to better capture lodging demand and uplift their value.
