-- CapitaLand Ascott Trust (CLAS) is divesting The Robertson House by The Crest Collection in Singapore to an unrelated third party for S$360.0 million. The 336-unit hotel will be divested at 4.0% above book value¹ and an exit yield of 2.3%². The net proceeds from the divestment are S$341.7 million and CLAS will recognise a net gain of approximately S$38.1 million³. The transaction is expected to be completed in 3Q 2026.
The Robertson House by The Crest Collection
"The divestment of The Robertson House by The Crest Collection at an attractive price of close to S$1.1 million per key underscores CLAS’ disciplined approach to portfolio reconstitution. It further enhances CLAS’ financial flexibility, enabling us to redeploy the proceeds into higher-yielding properties, support our asset enhancement initiatives (AEIs), repay higher-interest debt, and/or fund general corporate purposes. We will continue to pursue value-accretive opportunities in Singapore and other developed markets to strengthen the resilience of our portfolio." - Ms Serena Teo, Chief Executive Officer of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd. (the Managers of CLAS)
Singapore remains a key market for CLAS
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 Singapore⁴, is currently under redevelopment. The 192-unit serviced residence with a hotel licence is on track to complete around end-2026 and is expected to begin contributing income progressively from early 2027.
Located in the heart of the Clarke Quay day-to-night lifestyle precinct, Somerset Clarke Quay Singapore offers direct connectivity to Fort Canning MRT station and dual frontages facing the scenic Singapore River and Fort Canning Hill, a key historic landmark of Singapore.
In 1Q 2026, CLAS’ Singapore portfolio saw revenue per available unit growth of 2% year-on-year, 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. Strategically located in key gateway cities, 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.
Notes:
[1] As at 31 December 2025.
[2] Exit yield is computed based on FY 2025 earnings before interest, taxes, depreciation and amortisation (EBITDA).
[3] Comprising S$5.0 million which is recognised in the statement of total return and S$33.1 million which is directly recognised in the revenue reserve as realisation of the asset revaluation reserve.
[4] Comprising S$5.0 million which is recognised in the statement of total return and S$33.1 million which is directly recognised in the revenue reserve as realisation of the asset revaluation reserve.
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