Joo Chiat and Little India boutique hotels up for sale

Expression of interest will close on 7 October.

Two boutique hotels comprising 138 keys in Joo Chiat and Little India have been offered for sale by its exclusive joint marketing agents Savills Singapore and CBRE.

In a statement, the agencies said the guide price for the Hotel @ 51 Joo Chiat Road is $60m and the Hotel @ 22 Belilios Lane is $63m. Interested parties may acquire the properties individually or collectively as a portfolio.

Hotel @ 51 Joo Chiat Road located in the heart of Joo Chiat is a 70-key standalone 4-storey hotel building. The property occupies a land area of around 7,629 square feet (sq. ft.) and an estimated total floor area of around 22,925 sq. ft. 

The hotel is conveniently located near Paya Lebar MRT station, with easy access to public transport and major highways. Changi Airport is just 15 minutes away.

Meanwhile, Hotel @ 22 Belilios Lane is a 68-key heritage hotel located in the heart of Little India. The property occupies a land area of around 13,130 sq. ft. and an estimated total floor area of 25,540 sq. ft. The hotel itself occupies around 21,790 sq. ft.

Little India is Singapore’s hub of Indian culture and shopping. Located near Little India MRT station, the hotel has easy access to the city centre, Orchard Road, and other attractions.

The new owner can either choose to self-manage the hotel or engage an independent operator. 

Foreigners and companies are eligible to purchase the properties and no Additional Buyer Stamp Duty or Seller’s Stamp Duty will be imposed. 

The sale will be conducted through an Expression of Interest exercise, which closes on Monday, 7 October at 3 p.m.