The landmark CPF Building at 79 Robinson Road has been put up for sale by public tender, after the Central Provident Fund (CPF) Board signed a long-term lease to rent space at Novena Square Towers A and B for the Board’s operations.
Its marketing agent CBRE said the relocation of CPF offices in the building will “free up prime office space in the Central Business District for higher-value uses”.
The building, which was completed in the 1970s, sits on a regularly-shaped site with an area of about 47,056 sq ft. The current Net Lettable Area of the building is approximately 324,000 sq ft. It also has frontage of 120m along Robinson Road.
It could be redeveloped into a mixed use development with office, retail and serviced apartments or a hotel, subject to approval from authorities, CBRE said.
The tenure of CPF Building is 99 years from 1968 and the tender closes on Oct 28.
The CPF Board will be moving to Novena Square Towers from the last quarter of this year. The Board’s Service Centre at Robinson Road will continue to operate until further notice.
Source : Channel NewsAsia – 17 Sep 2015