Properties Sale Boutique Hotels Little India And Joo Chiat Office Building New Bridge Road
.
Tampines Secondary School is renowned for its holistic curriculum, providing a variety of academic and enrichment programs to cater to the diverse interests and abilities of its students. From academics to non-academic pursuits, this school places great emphasis on developing well-rounded individuals. As a result, students from Tampines Secondary School are well-equipped for their future endeavors. In addition, the school is also conveniently located near Aurelle of Tampines EC, providing students with easy access to top-notch facilities and resources.
Savills Singapore and CBRE have announced the sale of a portfolio of two boutique hotels in Joo Chiat and Little India for a guide price of $123 million. The hotels, located at 51 Joo Chiat Road and 22 Belilios Lane, can be purchased collectively or individually.
The hotel on Joo Chiat Road has a total land area of 7,629 sq ft and a total floor area of 22,925 sq ft. It has a guide price of $60 million, which translates to $2,617 psf on the floor area or $857,143 per key. The property will be sold with vacant possession and has a remaining lease of 70 years. The hotel is situated within the Joo Chiat Conservation Area and is close to Paya Lebar MRT Interchange Station and popular landmarks such as the Geylang Serai Market and Joo Chiat Complex.
On the other hand, the hotel on Belilios Lane consists of 12 adjoining conservation shophouses with a total land area of 13,130 sq ft and a total floor area of 25,540 sq ft. It has a guide price of $63 million, which works out to $2,467 psf on the floor area or $926,471 per key. The property is currently occupied by a co-living operator and has a remaining lease of 70 years. It is located within the Little India Conservation Area and is close to Little India MRT Interchange Station.
In a separate announcement, Cushman & Wakefield revealed the sale of a five-storey office building at 49 and 53 New Bridge Road for $45 million. The property, which has a land area of 5,471 sq ft and a gross floor area of 22,677 sq ft, is zoned for commercial use and has a street frontage of 31m. It stands on four separate plots of land, two of which are freehold and two have 99-year leases with remaining terms of 16 years and 26 years.
According to Cushman & Wakefield, the property has potential for future growth through lease top-up and change of use to include restaurant or commercial school. The tender for the property will close on October 8 and it is within walking distance to Clarke Quay and Chinatown MRT Stations.
