Boutique Hotel in Little India Singapore Launched for Sale
The Rare 999-yr Leasehold Hotel Property is Up for Grab Now
A boutique hotel in Little India has been put up for sale for less than S$50 million.
It is well managed, well maintained by a reputable hospitality operator.
This hidden gem with more than 80 rooms and a ground floor cafe is strategically located in a popular tourist spot, surrounded by many Internet cafes, restaurants and vibrant shops.
Within a short walking distance from Jalan Besar MRT station and near a 24-hr mega mall, it enjoys high occupancy all year round and is fully leased at more than 3% yield.
Under the URA Master plan 2014, the property falls under the Rochor planning area, which is Singapore’s budding art, culture district.
The precinct is fast developing into a renowned education and learning centre, also underwent rejuvenation, with the redevelopment of the former Verge mall into an integrated mixed-use building with retail shops and serviced apartments.
The New Tekka Mall will be ready in Q4 this year.
Owning a Hotel Property
Is Like Having a Goldmine
Don’t Miss This Golden Opportunity
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Singapore is a Popular Destination for Tourists and Tourism is Booming Right Now.
Numbers of Tourists have arrival has Hit New Record.
As for Now, Occupants Rate has hits at 87%
Tourists Keep Coming to Singapore at Crazy Numbers
Singapore Tourism Board Recorded 18.5 million of Tourists Arrival in 2018 Which is a Record High.
With New Attraction Like Jewel @ Changi Opening, Many Believe it Will Hit 20 million this year in 2019.
Hotels Can Fetch Good Price in Long Term
With More Tourists Coming Means More Hotels Rooms are Needed or More Hotels Need to be Build. Presently the Demands are Not met.
Thus, those Who Owned Hotel Property has the Highest Advantage. They Can Fetch Good Price in Long Term.
No ABSD and SSD for Commercial Investment
The 999-yr Leasehold property zoned for Commercial use does not incur ABSD and is eligible to foreigners. Seller’s Stamp duty (SSD) is also not applicable.
Commercial buildings with approved hotel use are scarce in supply. Such properties will continue to appeal to a wide range of investors, family offices, high net worth individuals.
Hotel operators who want to expand their business in choice locations would be keen on this property too.
Hotel investment sales peaked at S$1.36 billion last year, hitting a four-year high, based on a real estate research firm.
Besides major hotel deals like Ascott Raffles Place and Marina Mandarin Singapore, a few boutique hotels in shophouses were sold in 2018, namely Wanderlust Hotel in Little India, Wangz Hotel at Outram and Porcelain Hotel in Chinatown.
The volume of hotel transactions in the Asia Pacific region is projected to rise by 15 per cent to S$12.9 billion, according to a global hotel investment report released in early this year.
Experts noted that the July 2018 cooling measures might have steered investors away from residential sites.
Backed by favourable tourist outlook in Singapore, the increased interest in hotels will continue to push the prices.
This 999-yr Leasehold hotel is a rare opportunity for investors to acquire conservation shophouse within Singapore’s prime tourist locale.
The purchaser can collect long term rent or choose to operate a hotel business on its own. Such a worthy investment won’t last long in the market.
Contact +65 9001 0711 now to enquire.