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Featuring a total of 49 rooms, the hotel is nestled on a 436.90 sq m (4,703 sq ft) site that is zoned “commercial/institution” under the 2014 Master Plan with a gross plot ratio of 2.8.
Hotel Compass, an eight-storey freehold hotel in District 14, has been put up for sale via public tender with a guide price of $23 million to $25 million, revealed marketing agent Knight Frank Singapore.
Featuring a total of 49 rooms, the hotel is nestled on a 436.90 sq m (4,703 sq ft) site that is zoned “commercial/institution” under the 2014 Master Plan with a gross plot ratio of 2.8. It also has a gross floor area of about 1,486.4 sq m (16,000 sq ft).
Hotel Compass is situated near Mountbatten MRT Station on the Circle Line and Aljunied MRT station on the East-West Line. It is also within a 20-minute drive to Changi International Airport and the central business district.
“Hospitality is a very well sought-after asset class in Singapore, and the hotel is ideal both for investors and end-users with its palatable sale quantum,” said Ian Loh, head of investment and capital markets at Knight Frank Singapore.
“Furthermore, the property is only a short drive to the rejuvenated Paya Lebar commercial hub, where hotel guests can enjoy a wide array of leisure, entertainment and dining amenities at the upcoming PLQ Mall, SingPost Centre, Paya Lebar Square and Kinex Mall.”
Knight Frank Singapore’s head of auction and sales Sharon Lee noted that both companies and foreigners are eligible to acquire the property with no additional buyer’s stamp duty and seller’s stamp duty payable.
The tender for Hotel Compass closes on 1 November.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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