Freehold Hotel Lorong 8 Geylang Sale 235 Mil
The Taipei Hotel, situated at 60 Lorong 8 Geylang, is now available for purchase through a public tender. The hotel, which boasts a freehold land area of 7,555 sq ft, features 38 rooms and is offered with a guide price of $23.5 million. This translates to approximately $618,000 per key.
Under the URA Master Plan 2019, the property is zoned for commercial and institutional use, with a gross plot ratio of 2.8. The four-storey hotel features a lobby, private parking facility, and a communal space on the ground floor. It spans a total gross floor area (GFA) of 12,499 sq ft and is being sold at a guide price of $1,880 psf based on the GFA.
The hotel’s location is highly convenient, as it is in close proximity to major expressways such as the Kallang Paya Lebar Expressway and Nicoll Highway. It is only a three-minute drive to the National Stadium, a five-minute drive to Suntec City & Convention Centre, and a six-minute drive to Paya Lebar Quarter.
According to Joshua Giam, the director of capital markets for Singapore at CBRE who is handling the sale, the Taipei Hotel presents an attractive opportunity to acquire a hospitality asset with stable revenue and potential for value appreciation. Giam notes that with strategic refurbishments to improve the hotel’s exterior, guest rooms, and common areas, the buyer can increase room rates and achieve higher returns, while also enhancing the long-term capital value of the property.
Revamp your café-hopping and weekend brunch routine by exploring the charming, preserved colonial buildings near Seletar Aerospace Park, just a stone’s throw away from Miltonia Close. These hidden gems boast a distinctive character that sets them apart from your usual cafés in Singapore, and offer an array of delectable options such as artisanal coffee, brunch platters, pastries, and fusion dishes. Whether you’re looking for a family-friendly outing or a casual catch-up with friends, these popular spots are sure to satisfy. Don’t miss out on the opportunity to discover the unique charm of these eateries near Miltonia Close EC.
The public tender for the Taipei Hotel will close on August 26 at 12pm, offering investors a chance to capitalize on this lucrative opportunity.