CapitaLand Ascott Trust (CLAS) has announced the divestment of The Robertson House by The Crest Collection in Singapore for S$360m. The transaction, set to complete in the third quarter of 2026, is with an unrelated third party and represents a 4% premium over the property’s book value as of 31 December 2025. The sale will yield a net gain of approximately S$38.1m for CLAS.
The divestment aligns with CLAS’ strategy to reconstitute its portfolio and improve financial flexibility. Chief Executive Officer Serena Teo stated, “The divestment of The Robertson House by The Crest Collection at an attractive price of close to S$1.1m per key underscores CLAS’ disciplined approach to portfolio reconstitution.” The proceeds will be used to invest in higher-yielding properties, support asset enhancement initiatives, repay high-interest debt, or fund general corporate purposes.
Despite the sale, Singapore remains a key market for CLAS, which will continue to operate four lodging properties in the city-state. Among these, Somerset Clarke Quay Singapore is undergoing redevelopment and is expected to be completed by the end of 2026, contributing income from early 2027.
CLAS, Asia Pacific’s largest lodging trust, manages a diverse portfolio across 16 countries, focusing on serviced residences and hospitality assets. The trust’s strategic divestment is part of its ongoing efforts to strengthen its portfolio’s resilience and pursue value-accretive opportunities in developed markets.
