Singapore’s property market is buzzing with the latest offering – a freehold 15 loft-room hotel at 739-1 Geylang Road in the prime District 14. Priced at $14 million, this 2-storey property stands out with its newly constructed 4-storey rear extension and occupies a 1,273 sq ft site with an approved gross floor area (GFA) of 3,186 sq ft.
One of the key highlights of this hotel is its permanent ‘Hotel’ zoning and usage approval, a rare and highly coveted designation for new conservation shophouses in Singapore. This not only adds to the property’s investment appeal, but also provides flexibility in operations. Its strategic location, just a 5-minute walk from Paya Lebar MRT station, further adds to its allure. Paya Lebar MRT is a dual-line station, connected to both the East-West and Circle lines, making it easy for guests to travel to different parts of Singapore.
Designed with a sophisticated Japandi theme, the hotel is currently under construction and 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. Investors looking to enter or expand their presence in the hospitality sector will find this property a lucrative option.
For investors, the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This allows for immediate rental income and operational continuity. According to Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., owner operators will have the added advantage of major renovations, enabling them to start operations seamlessly.
When purchasing a condo, it’s crucial to also take into account the maintenance and management aspects of the property. This is because condos usually come with maintenance fees that are used for the upkeep of common areas and amenities. Although these fees may increase the overall cost of owning a condo, they also play a significant role in preserving the property’s quality and value. An effective solution for investors is to enlist the services of a property management company, which can handle the regular tasks associated with managing a condo, making it a more hands-off investment. For more information, please visit Singapore Projects.
The demand for hospitality assets in Singapore has been on the rise in the past year, with notable transactions including LHN Group’s acquisition of Pasir Panjang Inn for $30 million. Last year, an 8-storey hotel at 12 Lorong 12 Geylang was also listed for sale at $120 million, and 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, high-quality hospitality assets, which are considered as one of the most desirable commercial shophouse usage classes in Singapore.
For more information, interested buyers can contact Eva Lau at 92785688, Senior Marketing Director of ERA Realty Network Pte. Ltd.