Regin Hotel on Sims Avenue up for sale with $23 mil guide price

By
/ EdgeProp Singapore
|
September 8, 2021 5:17 PM SGT
The guide price of $23 million works out to about $500,000 per key or $2,166 psf on the total floor area.
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Regin Hotel, a freehold four-storey hotel at 56 Sims Avenue, has been put up for sale with a guide price of $23 million. CBRE is the sole marketing agent, and the sale will be conducted through an Expression of Interest (EOI) exercise.
Located at the junction between Sims Avenue and Lorong 9 Geylang, Regin Hotel enjoys prominent street level visibility. The property sits on a 3,172 sq ft site and based on the 2019 Master Plan, it is zoned ‘Residential/Institution’ with a gross plot ratio of 3.0. (See: Check all latest Singapore property Market Trends)
“Being strategically located between two major growth centres – Paya Lebar Regional Centre and the Kallang Riverside Precinct, the property is well-positioned to benefit from a strong spillover of commercial activities,” says Clemence Lee, senior director of capital markets, Singapore at CBRE.
ADVERTISEMENT
He adds that the new owner can expect strong rental and capital appreciation in the medium- to long-term.
The hotel has obtained permanent approval to operate as a boarding house and the property features 46 rooms, a lift, four carpark lots, and an internal courtyard. It has a total gross floor area of about 10,620 sq ft.
The guide price of $23 million works out to about $500,000 per key or $2,166 psf on the total floor area.
“Given the palatable quantum of Regin Hotel, we expect keen interest from high-net-worth individuals, corporate investors and family offices, who are looking to expand their hospitality footprint,” says Lee.
ADVERTISEMENT
The EOI will close on Oct 14.
Check out the latest listings near Regin Hotel, Sims Avenue
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter
Search Articles
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 4.6.22
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.