A luxurious, freehold hotel showcasing 15 loft-style rooms is now on the market for $14 million in District 14. This impressive 2-storey property includes a brand new 4-storey rear extension and sits on a 1,273 sq ft land area with an approved gross floor area (GFA) of up to 3,186 sq ft.
One of the most alluring features of this hotel is its permanent ‘Hotel’ zoning and usage approval, a rare status that is highly coveted for new conservation shophouse usage conversions in Singapore. This designation not only enhances the property’s long-term investment appeal, but also offers great operational flexibility. Adding to its appeal is the prime location, just a 5-minute stroll from Paya Lebar MRT station, providing unparalleled connectivity. Paya Lebar MRT is a dual-line station, serving both the East-West and Circle lines, making it convenient for guests to access various parts of Singapore.
Designed with a chic Japandi theme, the hotel is currently under construction and is expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price is inclusive of all construction and renovation costs, making it a ready-to-operate investment opportunity. This makes it an ideal turnkey investment for those looking to enter or expand their presence in the hospitality sector.
For investors, this property presents an especially attractive proposition. The current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This offers the opportunity for immediate rental income and operational continuity. Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., predicts that the hotel will appeal to owner-operators as they can benefit from major renovations, allowing for a smooth and swift commencement of operations.
Singapore has long been a top destination for foreign investors due to its reputation for stability and potential growth in the real estate industry. However, it is crucial for investors to navigate the regulations and restrictions surrounding property ownership in the country. When it comes to purchasing properties, Condos are generally favored over landed properties for their ease of ownership as they have less stringent rules. Despite the 20% Additional Buyer’s Stamp Duty (ABSD) imposed on first property purchases, many investors are still drawn to the allure of Singapore’s stable market and its potential for growth. This solidifies Singapore’s position as a highly desirable choice for foreign investment. With its promising market and the option to invest in Condos, Singapore continues to attract foreign investors. Condos offer a promising opportunity for investment in the country.
The demand for hospitality assets in Singapore has been steadily rising over the past year. Some notable recent transactions include LHN Group’s acquisition of Pasir Panjang Inn, a 16,626 sq ft site, for $30 million. In addition, an 8-storey hotel at 12 Lorong 12 Geylang was listed for sale at $120 million last year. Another property, Hotel JJH, with 25 rooms, located at 747 North Bridge Road, is now on the market for $38 million. These trends demonstrate the strong appetite for well-located, high-quality hospitality assets, which are considered one of the most desirable commercial shophouse usage classes in Singapore.
For more information, interested parties may contact Eva Lau at 92785688, Senior Marketing Director (R062169F) of ERA Realty Network Pte. Ltd.