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Hotel Marrison in Little India, Singapore

  • 28,000,000 $

 

HOTEL Marrison @ Desker, a 25-room boutique hotel in the Little India vicinity

PRICE - S$28-30 million.

 

The property comprises 6 adjoining units of 2-storey shophouses with an attic.

It has retail shops located alongside, as well as an eating house on the ground floor. The hotel also has dual frontages onto Kampong Kapor Road and Desker Road.

The freehold property sits on a land area of 6,664 sq ft, with a total gross floor area of about 12,270 sq ft. It is located in a busy locale popular among locals and tourists for cyber cafes, budget hotels and shops selling Indian delicacies and food specialities. 

It is also near 24-hour mega department store Mustafa Centre, City Square Mall, the upcoming integrated development Tekka Place, future mixed-used development Centrium Square and commercial development New World Centre.

The hotel will appeal to investors looking for recurring income, as well as hotel owners wanting to start their own operations.

Smaller hotels can bear the brunt of competition from bigger hotels in the neighbourhood, as they can offer more personalised services at affordable room rates.

The property has enjoyed an average occupancy rate of over 85 % in the last 2 years.

"With a healthy growth in visitor numbers, marginal increase in hotel room supply and the outlook for hospitality sector largely positive for the year ahead, we have observed that there have been several hospitality sale transactions recently, such as Wanderlust Hotel at Little India, Ascott Raffles Place and the recent announcement on the impending sale of Oxley Holdings' Mercure and Novotel hotels."

Last week, Oxley Holdings said that it has accepted a letter of intent for the purchase of its Mercure and Novotel hotels along Stevens Road for S$950 million, reportedly from Indonesian magnate Tahir.

 

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Tags: Hotel Marrison in Little India, Singapore, Hotel estate

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