Check out these hotel sites in 'non-traditional spots'

Pines Club at Stevens Road was sold for $318m.

According to Chestern Singapore, the government supply of hotel sites for 2012 were centred in the non-traditional locations.

Examples of which are the Jurong Town Hall Road site which was awarded in November 2012 for $12,565 psm, the Victoria St/Jalan Sultan site awarded in October 2012 for $10,696 psm and the Rangoon Road/Farrer Park Station Road site in April 2012 for $11,612 psm.

In addition, the Pines Club at Stevens Road was sold in March 2013 for $318 million with a provisional permission granted for two blocks of eight-storey hotels, two blocks of two-storey commercial building, one block of four-storey clubhouse with basement.

Given the keen competition for vacant land, investors and developers are thus motivated to purchase existing hotels through private negotiations in view of the shorter period to commence operations and lesser risk attributed to having an established operating business.

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