Concorde Hotel & Shopping Mall sells for $821m
The property was sold to Luxury Peak Pte Ltd.
Concorde Hotel & Shopping Mall at 100 Orchard Road has been sold for $821m via public tender, according to Savills Singapore.
The 99,623 sq ft property was sold to Luxury Peak Pte Ltd, a wholly-owned subsidiary of Hotel Properties Ltd.
The property features a three-storey retail podium with approximately 108,510 sq ft of strata area, and a 407-room hotel occupying levels 4 to 9 with views of Istana Park.
Zoned “Hotel”, the site has a height control of up to 10 storeys and a development baseline at 539,719 sq ft, translating to a plot ratio of 5.41.
Hotel Properties Ltd currently owns approximately 95.4% of the strata area of the property.