Freehold Hotel Lorong 8 Geylang Sale 235 Mil

Located at Tampines Avenue 11, a plot of land has been attracting a lot of interest recently. Its prime location near two executive condominium sites has made it a highly sought-after property. One of these sites, situated at Tampines Street 62, is currently in the tender process, while the other is the recently launched Tenet with 618 units. Moreover, the upcoming Parktown Residence Showflat is conveniently situated near this plot, making it an even more desirable location. Parktown Residence Showflat will be a natural addition to this already highly coveted area.

Taipei Hotel, a 38-room freehold establishment located at 60 Lorong 8 Geylang, is currently up for sale through public tender. The property, which has a guide price of $23.5 million or approximately $618,000 per key, presents a promising investment opportunity.

Situated on a land area of 7,555 sq ft, the four-storey hotel is zoned as “commercial/institutional” under the URA Master Plan 2019 and has a gross plot ratio of 2.8. Notable features of the hotel include a lobby, private parking facility, and communal space on the ground floor. Its total gross floor area (GFA) spans 12,499 sq ft, with the guide price translating to about $1,880 per sq ft.

The hotel has convenient access to major expressways such as the Kallang Paya Lebar Expressway and Nicoll Highway. It is also strategically located near popular destinations like the National Stadium, Suntec City & Convention Centre, and Paya Lebar Quarter, with a three-minute, five-minute, and six-minute drive respectively.

According to Joshua Giam, director of capital markets for Singapore at CBRE who is handling the sale, the property presents a unique opportunity to acquire a hospitality asset that offers a steady revenue stream and strong potential for value appreciation. He believes that with refurbishment of the hotel’s façade, guest rooms, and common areas, the buyer can increase room rates and enhance returns while boosting the long-term capital value of the property.

The public tender for the hotel will close on Aug 26 at 12pm, providing interested buyers with ample time to carefully consider this lucrative investment opportunity.