SINGAPORE: Two boutique hotels located in Joo Chiat and Little India have been put up for sale, according to a joint announcement by Savills Singapore and CBRE, the exclusive marketing agents for the properties.
The two hotels, comprising 138 keys, are available for purchase individually or as a portfolio.
The first property, Hotel @ 51 Joo Chiat Road, is priced at $60 million. This standalone, four-storey hotel boasts 70 rooms and occupies a land area of approximately 7,629 square feet. With a total floor area of around 22,925 square feet, the hotel offers ample space for guests.
Conveniently situated near the Paya Lebar MRT station, the hotel provides easy access to public transportation and major highways. Additionally, the property is only a 15-minute drive from Changi Airport, making it an attractive location for leisure and business travellers.
The second property, Hotel @ 22 Belilios Lane, is a heritage hotel located in the heart of Little India. Priced at $63 million, this 68-room hotel occupies a land area of approximately 13,130 square feet.
The total floor area of the property is estimated at 25,540 square feet, with the hotel itself spanning around 21,790 square feet.
Little India is a vibrant cultural hub known for its rich Indian heritage and bustling shopping scene. The hotel is situated near the Little India MRT station, providing quick access to popular destinations such as Orchard Road and the city centre.
The properties offer flexibility for potential buyers, who can choose to self-manage the hotels or engage an independent operator.
Furthermore, the properties are available for purchase by foreigners and companies without additional buyer or seller stamp duties, making the investment more attractive.
The sale will be conducted through an Expression of Interest (EOI) exercise, which closes on Monday, Oct 7 at 3 p.m. /TISG