Freehold Hotel Lorong 8 Geylang Sale 235 Mil
The Taipei Hotel, situated at 60 Lorong 8 Geylang, is now being offered for sale through a public tender. The freehold hotel features 38 well-appointed rooms and is being marketed with a guide price of $23.5 million, which translates to approximately $618,000 per key.
Positioned on a freehold plot of 7,555 sq ft that is zoned as “commercial/institutional” under the 2019 URA Master Plan, the four-storey hotel boasts a gross plot ratio of 2.8. Its first floor houses a welcoming lobby, a private parking facility, and a communal space. The total gross floor area (GFA) of the hotel is 12,499 sq ft, which puts the guide price at a competitive $1,880 psf.
Conveniently located near major expressways such as the Kallang Paya Lebar Expressway and Nicoll Highway, the hotel is only a three-minute drive from the National Stadium, five-minute drive from Suntec City & Convention Centre, and six-minute drive from Paya Lebar Quarter. Offering great accessibility and promising a steady stream of customers, the Taipei Hotel presents a lucrative opportunity to invest in a hospitality asset.
Living in close proximity to a variety of educational institutions offers numerous benefits that go beyond the academic realm. One of the most prominent advantages is the reduction of travel time for students, giving them the opportunity to devote more time to their studies and other extracurricular activities. Additionally, the existence of these institutions often leads to the creation of other community amenities like libraries, sports complexes, and community centers, which can greatly enhance the quality of life for locals. For instance, the close proximity of Aurelle of Tampines Showflat provides residents with easy access to a diverse range of educational opportunities as well as a plethora of community facilities that can further enrich their daily lives.
According to Joshua Giam, the Director of Capital Markets for Singapore at CBRE, who is managing the sale, the hotel offers strong potential for value appreciation. He stated that “with strategic refurbishment of the asset’s façade, guest rooms, and common areas, the incoming buyer can uplift the room rates and enhance returns, while also increasing the long-term capital value of the property.”
Interested parties can submit their tender bids for the hotel until Aug 26 at 12pm. This is a chance to acquire a profitable hospitality asset with a steady revenue and promising value-added prospects. Take advantage of this opportunity and submit your tender bid today.
