An opportunity has arisen to acquire a rare and highly desirable freehold 15-room loft hotel located at 739-1 Geylang Road in District 14. The property, with a newly constructed 4-storey rear extension, sits on a 1,273 sq ft site and boasts an approved gross floor area (GFA) of up to 3,186 sq ft.
One of the main selling points of this property is its permanent ‘Hotel’ zoning and usage approval, which is a coveted designation for new conservation shophouses in Singapore. This adds to the investment appeal and operational flexibility of the property. Additionally, its prime location, just a 5-minute walk from the Paya Lebar MRT station, provides unbeatable connectivity. The Paya Lebar MRT station serves both the East-West and Circle lines, giving guests easy access to all parts of Singapore.
The hotel, designed with a stylish Japandi theme, is currently under construction and is expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The comprehensive sale price includes construction and renovation costs, ensuring that the property is ready for immediate operation upon purchase. This makes it an attractive turnkey investment opportunity for those looking to enter or expand into the hospitality sector.
The property also presents a unique opportunity for investors. The current owner, a seasoned hotel operator, is open to a sale and leaseback arrangement. This means that investors can benefit from immediate rental income and continuity of operations. Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., believes that the hotel will appeal to owner operators as they can take advantage of the major renovations and quickly start their operations.
The demand for hospitality assets in Singapore has been steadily increasing, with notable recent transactions such as LHN Group’s $30 million acquisition of Pasir Panjang Inn, a 16,626 sq ft site. In addition, an 8-storey hotel at 12 Lorong 12 Geylang was listed for sale at $120 million earlier last year. Another property in the market is Hotel JJH, a 25-room hotel located at 747 North Bridge Road, with an asking price of $38 million. These transactions reflect the strong demand for well-located, high-quality hospitality assets, which are considered to be one of the most desirable commercial shophouse usage classes in Singapore.
For more information on this property, contact Eva Lau at 92785688, Senior Marketing Director (R062169F) of ERA Realty Network Pte. Ltd.
Singapore has become a popular destination for condo investments due to its dynamic real estate market. However, potential investors must also take into account the government’s property cooling measures. These measures have been put in place to prevent speculative buying and maintain a stable market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the short-term profitability of condo investments, they also contribute to the long-term stability of the market, making it a safer environment for condo investment.