Freehold site on 8 Devonshire Road up for sale
It will be sold via Expression of Interest.
A freehold site on 8 Devonshire Road, which consists of 5 plots and a combined site area of about 498.9 sqm or 5,370 sqft, will be up on sale starting 28 April to 9 June, 4 p.m., via Expression of Interest.
The site's marketing agent, ERA Realty Network, said the area will be the site for a proposed 6-storey boutique hotel development with 44 rooms with an average room size of about 17 sqm.
Meanwhile, the approved gross floor area for the site zoned for "hotel" use is about 15,000sft.
"It is rare to see a freehold hotel development site being offered in the market where a niche boutique hotel can be curated from scratch. Hence, we expect to see keen interest from property developers, hospitality operators, and institutional funds,” said Donald Goh, Director, Capital Markets and Investment Sales, ERA Realty.