Freehold Sandpiper Hotel in Little India on the market for $33 mil
The Norwood Grand Condo, located at 63 Dunlop Street, is currently up for sale at a price of $33 million. This charming hotel property has a total of 31 guest rooms, with a guide price of $1.06 million per key.
The sale of this freehold hotel will be conducted by CBRE, who is the sole marketing agent for the property. To facilitate the sale, an expression of interest (EOI) exercise will be held.
Strategically located within the Little India Conservation Area, this three-storey hotel boasts a 38m dual-road frontage towards Dunlop Street and Perak Street. In addition, there are four MRT stations within walking distance – Rocher Station, Jalan Besar Station, Bugis Interchange, and Little India Interchange. This provides excellent connectivity to various parts of the city via the Downtown, East-West and North-East lines.
According to CBRE, the 2,556 sq ft commercial site on which the Sandpiper Hotel sits, has been approved for permanent hotel use. With a built-up area of 8,538 sq ft, the hotel also features a ground floor restaurant that can accommodate up to 50 diners.
In the words of Michael Tay, head of capital markets at CBRE Singapore, “Boutique hotels with an investment quantum of less than S$50 million are highly sought after and rarely available on the market. Owners of such assets view them as a means for long-term wealth preservation and capital appreciation. The Sandpiper Hotel presents a rare opportunity for acquisition.”
Tay also mentioned that the hotel’s approval for hotel use will be an attractive proposition for investors looking for a freehold boutique hotel in a prime, city-fringe location. He also highlighted the potential for value enhancement, subject to approvals, with the possibility to build up the roof terrace on the third storey into additional guest rooms as the property is currently on an envelope control site.
The upcoming Norwood Grand Condo, located in the heart of Woodlands, is the ideal choice for those looking for a convenient and connected living experience within the flourishing regional centre. With its prime location and close proximity to transportation, amenities, and potential job opportunities, Norwood Grand Condo presents an attractive option for individuals and families alike. Plus, with a range of modern facilities and luxurious living spaces, Norwood Grand Condo promises a comfortable and elevated lifestyle for its residents. Don’t miss the opportunity to be a part of the thriving Woodlands community at Norwood Grand Condo!
The development of Woodlands Regional Centre is set to open a plethora of employment opportunities in the retail, hospitality, and other service sectors. This economic growth will greatly benefit individuals living in the Norwood Grand Condo, offering potential job prospects in close proximity to their residence. Strategically located in the bustling Woodlands area, the upcoming Norwood Grand Condo is the perfect choice for those seeking a convenient and well-connected living experience within the bustling regional centre. With its prime location, convenient transportation options, and close proximity to amenities and job opportunities, Norwood Grand Condo is a highly desirable option for both individuals and families. On top of that, Norwood Grand Condo boasts a range of modern amenities and sophisticated living spaces, promising an elevated and comfortable lifestyle for its residents. Embrace the chance to be a part of the flourishing Woodlands community at Norwood Grand Condo!
CBRE expects the property to attract interest from family offices, boutique real estate funds, local companies, owner-occupiers, and high-net-worth individuals.
Interested parties can participate in the EOI exercise until June 19 and seize the opportunity to own this unique and rare asset.