Chinatown Hotel, a 42-room boutique hotel located on Teck Lim Road, has been put up for sale by expression of interest (EOI). The indicative price for the hotel is $40 million, or about $952,000 per room.

The hotel occupies three 3½-storey adjoining shophouses and is located within the Chinatown-Bukit Pasoh Conservation Area and Keong Saik Road area. According to Cushman & Wakefield, the marketing agent for the sale, the new owner has the option to continue to operate China town as a hotel, which is the “highest and best use”, or convert it to F&B use on the ground floor, with offices on the upper floors, subject to approval from the relevant authorities. The EOI closes on March 28.