Claremont Hotel For Sale S$90M FREEHOLD (apply for change of use to MEDICAL SUITES)
February 19, 2019
Rare Opportunity to buy a Freehold Hotel in a Prime Location.
The Claremont is steps away from Farrer Park MRT Station, Mustafa Centre and City Square Mall.
The Claremont hotel is located on Serangoon Road in Little India, Singapore. The price for the eight-storey, 90 room freehold hotel is S$90 million.
The Claremont is on 4,838 sq ft of land and has a built-up area of about 30,591 sq ft. The site is zoned for hotel use with a 3.0 plot ratio (ratio of gross floor area to land area) under the Urban Redevelopment Authority's Master Plan 2014.
In2014, the 328-room Hotel Grand Chancellor in Belilios Road was transacted at S$248 million or about S$756,100 per room. The hotel was on a site with about 92 years' balance lease at the time.