Claremont Hotel in Little India and F&B unit in Bukit Timah Plaza up for sale
By Michael Lim
/ Knight Frank |
.
Knight Frank Singapore has launched two properties for sale by expression of interest, which will close on July 28. One is the eight-storey Claremont Hotel in Little India. The boutique hotel has just 90 rooms, a basement level and commercial unit with a built-up area of 30,591 sq ft. The property is sitting on a freehold site of 4,838 sq ft and located at the junction of Serangoon Road and Owen Road. The guide price for the 8-storey hotel is approximately $90 million.
The property is zoned for hotel use under URA Master Plan 2014. Investors could reposition the hotel by reconfiguring and adding rooms, subject to approval from the authorities, according to Mary Sai, Knight Frank executive director and head of investments and capital markets, who is marketing the property.
The other property for sale is a 3,390 sq ft F&B unit in Basement 2 of Bukit Timah Plaza has been offered for sale at a guide price of $6.8 million ($2,000 psf). The F&B unit is currently operating as a restaurant but will be sold with vacant possession. “The new owner can either continue to use it as a restaurant or convert it into a food court,” says Sai.
Claremont Hotel in Little India
Source: Knight Frank
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