>

>

The Porcelain Hotel in Chinatown up for sale at $115 mil

By Valerie Kor

/ EdgeProp Singapore |

February 27, 2020 4:10 PM SGT

SINGAPORE (EDGEPROP) - The Porcelain Hotel in Chinatown is up for sale at a guide price of $115 million, or $2,950 psf on the gross floor area.

The 138-key, 99-year boutique hotel occupies a land area of 10,143 sq ft and an estimated gross floor area of 38,686 sq ft, spanning four storeys. The majority of the 138 rooms range from 86 to 172 sq ft. There are also larger units of up to 452 sq ft in size.

Situated in a row of adjoining conservation shophouses at 46 to 50 Mosque Street, The Porcelain Hotel enjoys wide road frontage of over 55 metres. The ground floor space can be repositioned and repurposed for F&B use.

Based on the URA Master Plan 2019, the site is zoned “commercial”. As such, foreigners are eligible to purchase the property, with no additional buyer’s stamp duty or seller’s stamp duty imposed on the purchase of the property.

The purchaser has the option of an acquisition with vacant possession or a sale and leaseback arrangement.

Clemence Lee, senior director at CBRE, says: “With a leaseback arrangement in place, the incoming buyer will have some time to plan how they would like to carry out asset enhancement initiatives to refurbish and reposition the property. The new owner will have the flexibility to either self-manage the hotel or engage an independent operator.”

Chinatown enjoys high footfall and is within walkable distance to Singapore’s CBD. The property is only five minutes away from Chinatown MRT Station on foot and is also accessible to major expressways. Mosque Street is a popular street in Chinatown with many restaurants, souvenir shops, boutique hotels and backpacker hostels.

The property is being marketed through an Expression of Interest exercise, which will close on March 27 at 3pm.

Read also:

Conservation shophouses along Neil Road priced at $15.57 mil

Singapore Shopping Centre relaunches collective sale with provisional hotel rezoning

Freehold shophouses in Upper Thomson going for $22.88 mil

Tags:

The Porcelain Hotel chinatown boutique hotel CBRE Clemence Lee Chinatown MRT Mosque Street 99 year boutique hotel conservation shophouse

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00