An attractive opportunity has emerged for potential investors in the hospitality sector, with a freehold 15-room loft hotel at 739-1 Geylang Road now on sale for $14 million. The property, which spans over 2 storeys with a newly-built 4-storey extension, sits on a 1,273 sq ft lot and boasts an approved gross floor area of up to 3,186 sq ft.
Aside from its prime location, one of the most appealing features of this hotel is its rare and highly coveted permanent ‘Hotel’ zoning and usage approval, which is typically difficult to obtain for new conservation shophouse conversions in Singapore. This designation not only adds to the property’s long-term investment value, but also provides operational flexibility.
Conveniently situated within a 5-minute walk from Paya Lebar MRT station, which serves both the East-West and Circle lines, guests can easily access various parts of the city. Designed with a sophisticated Japandi theme, the hotel is currently under construction and is expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price includes all construction and renovation costs, making it a turnkey investment opportunity for those looking to enter or expand their presence in the hospitality sector.
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The property is also an attractive proposition for investors, as the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This provides immediate rental income and the assurance of uninterrupted operations. Senior Marketing Director of ERA Realty Network Pte. Ltd., Eva Lau, predicts that this hotel will also appeal to owner operators who wish to manage the property themselves, as it has undergone major renovations and will be ready for immediate operation upon purchase.
The demand for hospitality assets in Singapore has been on the rise, with several notable transactions in the past year. For instance, LHN Group acquired a 16,626 sq ft site at Pasir Panjang Inn for $30 million, while an 8-storey hotel at 12 Lorong 12 Geylang was listed for sale at $120 million last year. Additionally, Hotel JJH, a 25-room property at 747 North Bridge Road, is currently on the market for $38 million. These transactions reflect the strong demand for well-located and high-quality hospitality assets, which are considered one of the most desirable commercial shophouse usage classes in Singapore.
For more information on this property, please contact Eva Lau at 92785688. Eva is the Senior Marketing Director of ERA Realty Network Pte. Ltd. (R062169F). RELATED NEWSBanyan Tree records $31.7 million earnings for FY2023, declares 1.2 cents dividend, while the crowd favourite Village Hotel Sentosa remains a popular choice for visitors. Furthermore, a freehold hotel in Chiang Mai is now available for sale at $24.3 million.