A freehold, four-storey 46-key hotel with attic at 56 Sims Avenue is up for sale at a guide price of $29.9 million, which translates to around $650,000 per key.
Comprising 46 guestrooms with ensuite bathrooms, the hotel sits on a site area of approximately 3,172 sq ft with a gross floor area of 10,620 sq ft. The property enjoys approximately 12m of main road frontage, and its corner plot positioning offers strong visibility and excellent branding potential, say joint exclusive marketing agents Cushman & Wakefield and CBRE in an April 22 announcement.
The asset is leased to an existing operator under a master lease arrangement, providing an incoming purchaser with immediate rental income from completion.
Located within the rapidly rejuvenating Kallang/Geylang precinct, the property stands to benefit from ongoing urban transformation and increased vibrancy in the surrounding area. The location is well-connected, with easy access to major expressways such as the Ayer Rajah Expressway (AYE) and Central Expressway (CTE), as well as convenient access to public transport nodes, enhancing its accessibility for both business and leisure travellers.
Sophia Lim, director of capital markets at Cushman & Wakefield, says: “Opportunities to acquire freehold hospitality assets with stable income in well-connected city-fringe locations are increasingly rare. 56 Sims Avenue presents a compelling investment proposition, offering immediate income stability through an established master lease alongside long-term upside.”
Joshua Giam, director of capital markets, Singapore at CBRE adds: “In recent years, the Kallang/Geylang precinct has undergone a significant transformation, successfully redefining itself as a vibrant, holistic neighborhood that bridges the gap between heritage and modern lifestyle. With exceptional connectivity to the city centre and an increasingly diverse amenity base, the area has strengthened its appeal as one of Singapore’s most accessible and sought-after districts for locals and international travelers alike.”
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Interested parties are invited to contact Cushman & Wakefield or CBRE for further information or to arrange a private viewing.
The expression of interest exercise will close at 3pm on May 20.
The hotel was last put up for sale in September 2021 at a guide price of $23 million.
