Singapore Hotel Market Draws Investors.
Potential buyers are scouting for properties amid an anticipated rise in visitor arrivals, pipeline of hotel rooms to narrow after this year.
(The Business Times 6 October 2017).
The Average transaction price for freehold per hotel room in Singapore is around S$1M per room.
This is a rarely available, centrally located, freehold hotel asset with 90 rooms. Guide price is $90 million, the owner is prepared to accept offers of at least S$70 million and above (before GST).
The property is zoned for hotel use under URA Master Plan 2014. Investors could reposition the hotel by reconfiguring and adding rooms, subject to approval from the authorities,
The hotel is close to the Farrer Park MRT Station, and it is also near the only 24 hours Mustafa Shopping Centre in Singapore and the City Square Mall.
Property description
* Freehold Boutique Hotel in Tourism Spot.
* Built up 30,591 sq ft
* 8 Storey with Lifts and Basement
* Ground Floor with shops being sublet
* 90 Rooms
* High Occupancy rate of 75%
* Mins Walk to Farrer Park M.R.T Station
* Mins Walk To S'pore Famous Tourist District
* Medical Centre and Hospital is nearby
*5 Mins Walk to City Square Mall & the famous 24 Hrs, Mustaffa Shopping Complex.
*Central Business District & Financial Center Orchard Road, Marina Bay Sands Casino is just few MRT stops away
*Foreigner investors are welcome
NO ADDITIONAL BUYER'S STAMP DUTY
Room Types
*Deluxe Room
*Triple Deluxe
*Family Room
Exclusive viewing by appointment only.
Samuel Ong
+65 8202 XXXX
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