The Taipei Hotel, a charming 38-room establishment situated at 60 Lorong 8 Geylang, is now available for purchase via open tender. The property, which boasts a prized freehold status, has been listed at a guide price of $23.5 million, equivalent to approximately $618,000 per key.
The hotel, spanning four storeys, occupies a generous land area of 7,555 sq ft that falls under the “commercial/institutional” zone in the 2019 URA Master Plan. Its gross plot ratio stands at 2.8. The ground floor of the hotel is home to a tastefully designed lobby, private parking facility, and a communal space. In total, the property offers a generous gross floor area (GFA) of 12,499 sq ft. When calculated on the basis of GFA, the guide price translates to an impressive $1,880 per square foot.
A map highlighting the location of Taipei Hotel (Source: EdgeProp LandLens) The hotel is advantageously positioned in proximity to major expressways, including the Kallang Paya Lebar Expressway and Nicoll Highway. It is merely a three-minute drive from the National Stadium, five minutes from Suntec City & Convention Centre, and six minutes from Paya Lebar Quarter.
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The hotel is a worthwhile investment for buyers as it presents an opportunity to acquire a profitable hospitality asset with immense potential for value appreciation. According to Joshua Giam, director of capital markets for Singapore at CBRE, who is overseeing the sale, strategic refurbishment of the hotel’s façade, guest rooms, and common areas can significantly increase room rates and enhance returns for buyers while simultaneously boosting the property’s long-term capital value.
Interested buyers can participate in the tender for the hotel, which will conclude on Aug 26 at 12pm.