,Singapore

CBRE launches $21m sale of two adjoining freehold sites

The properties consist of a boutique hotel and a residential block.

CBRE is launching for sale two adjoining freehold sites for $21m via a tender process to be sold collectively.

The properties are the Malacca Hotel, a three-storey boutique hotel with 29 rooms located at 97 & 99 Still Road, and a two-storey residential block used as a workers’ quarters and for administrative purposes for the hotel’s operations at 137 Koon Seng Road.

Located at the junction of Still Road and Koon Seng Road, the two sites are said to enjoy high visibility. The two sites have a total site area of approximately 14,661 square feet and are to be sold as a bundle. Under URA’s Master Plan 2019, both sites were zoned for “Residential” use with a plot ratio of 1.4.

CBRE said the guide price for the combined sites is $21m, approximately $960 per square foot per plot ratio, subject to confirmation of development charges payable on combination of the two sites.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The partnerships aim to improve care delivery and patient outcomes.
The KoolLogix cooling system for data centres uses passive heat extraction and removal.
This is the first-of-its-kind collaboration between an index provider and an airport group.
The new initiative is targeted towards offering greater savings and flexibility.
Mapletree Logistics Trust was seen with the most growth.
Flexibility, specificity, and customer-centred approaches prove to be the edge in today’s enterprise application software companies.
The list is from Investigoal, which gave Singapore a score of 8. 
It won't push through with the acquisition of the majority of stake in a Vietnam property firm.
DBS Country Head Shee Tse Koon has apologised for the disruptions.
Only two in five Singaporean internet users are aware of NFTs.
October postings were up by 76% from February 2021.
Three of the four initiatives were spearheaded by Enterprise Singapore.
The agreement comprises two payments.
MTI cited four downside risks that will affect the economy's growth next year.