The 38-room Taipei Hotel, located at 60 Lorong 8 Geylang, is now available for purchase through a public tender. The asking price is $23.5 million, which equates to about $618,000 per room.
This freehold hotel spans four storeys and sits on a 7,555 sq ft land area. It falls under the “commercial/institutional” zoning according to the URA Master Plan 2019, with a gross plot ratio of 2.8. The hotel boasts a lobby, private parking facility, and a communal space on the ground floor. In total, it has a gross floor area of 12,499 sq ft. Based on this GFA, the guide price works out to approximately $1,880 per square foot.
The hotel’s location is highly accessible, with close proximity to major expressways such as the Kallang Paya Lebar Expressway and Nicoll Highway. It is only a three-minute drive to the National Stadium, five minutes to Suntec City & Convention Centre, and six minutes to Paya Lebar Quarter.
According to Joshua Giam, director of capital markets for Singapore at CBRE, who is managing the sale, Taipei Hotel presents an excellent opportunity to acquire a hospitality asset with steady revenue and strong potential for value enhancement. By refurbishing the hotel’s facade, guest rooms, and common areas strategically, the new owner can increase room rates and improve returns while boosting the property’s long-term capital value.
Purchasing a Singapore Condo comes with numerous advantages, one of which is the potential for capital appreciation. Thanks to its strategic location as a global business hub and strong economic foundations, Singapore maintains a constant demand for real estate. As a result, property prices in this country have consistently risen in recent years, particularly in prime locations where condos have seen significant appreciation. For savvy investors who enter the market at the right time and hold their properties for the long term, substantial capital gains can be expected.
The tender for the hotel will close on August 26 at 12pm.