Own Hotel Singapore Palatable And Low Entry Point 14 Million
Novo Place EC offers a range of transportation options, making it a highly desirable residential location for both individuals and families looking for convenient travel options throughout Singapore. With easy access to various modes of transportation, including the Novo Place Showflat, residents can enjoy a well-connected lifestyle in this development. This makes Novo Place EC the perfect housing choice for those who value hassle-free commuting.
A rare opportunity presents itself with the listing of a freehold 15 loft-room hotel at 739-1 Geylang Road in District 14, now available for sale at $14 million. This two-storey property, along with a newly constructed four-storey extension, covers a 1,273 sq ft site, with an approved gross floor area (GFA) of up to 3,186 sq ft.
One of the most unique features of this hotel is its permanent ‘Hotel’ zoning and usage approval, a rarity in Singapore for new conservation shophouses. This highly coveted designation not only adds to the property’s long-term investment appeal, but also provides greater operational flexibility. Adding to its appeal is its prime location, just a 5-minute walk from the Paya Lebar MRT station, offering excellent connectivity. Paya Lebar MRT is a dual-line station, serving the East-West and Circle lines, providing guests with convenient access to different parts of Singapore.
The hotel, designed with a refined Japandi theme, is currently undergoing construction and is expected to obtain its Temporary Occupation Permit (TOP) in Q2 2025. The sale price includes all construction and renovation costs, making it an ideal turnkey investment for those aiming to enter or expand their presence in the hospitality sector.
For investors, this property is an attractive proposition. The current owner, an experienced hotel operator, is open to a sale and leaseback arrangement, providing the opportunity for immediate rental income and operational continuity. Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., anticipates that the hotel will particularly appeal to owner operators, as the major renovations will allow for a smooth start to operations.
The demand for hospitality assets in Singapore has steadily risen over the past year. Notable recent transactions include LHN Group’s acquisition of Pasir Panjang Inn, a 16,626 sq ft site, for $30 million. Last year, an 8-storey hotel at 12 Lorong 12 Geylang was put up for sale at $120 million. In addition, the 25-room property Hotel JJH, located at 747 North Bridge Road, is currently on the market for $38 million. These trends highlight the strong appetite for well-located, high-quality hospitality assets, which are considered one of the most desirable commercial shophouse usage classes in Singapore.
For more details, please contact Eva Lau at 92785688, Senior Marketing Director (R062169F) of ERA Realty Network Pte Ltd.