Freehold boutique hotel in Little India for sale

Singapore, 15 May 2024 – CBRE, as the exclusive marketing agent is pleased to present for sale a freehold, iconic 3-storey plus basement boutique hotel – Sandpiper Hotel. The sale will be conducted via an Expression of Interest exercise, which will close on Wednesday, 19 June 2024, at 3pm.

Located in the heart of the Little India Conservation Area, Sandpiper Hotel occupies a premium freehold corner land parcel of about 2,556 sq ft. with a total floor area of approximately 8,538 sq ft. With a total of 31 guest rooms that are spread across the basement to the third floor, the boutique hotel also has a restaurant on the ground floor that can accommodate up to 50 diners per seating. Sandpiper Hotel’s 38-metre-wide dual road frontage at the intersection of Dunlop Street and Perak Road, enables the asset to project a prominent and captivating presence between the two bustling thoroughfares.

Indicative price for the hotel is S$33 million or approximately S$1.06 million per key. As per the URA Master Plan 2019, the site is currently zoned “Commercial” with permanent Hotel approval. Foreigners will be eligible to purchase the development with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD).



Michael Tay, CBRE Head of Capital Markets, Singapore, says, “Boutique hotels with a palatable investment quantum of less than S$50 million are usually tightly-held and these assets are seldom available for sale. Owners of such assets often see them as a means for long term wealth preservation and capital appreciation. Sandpiper Hotel is therefore a rare acquisition opportunity. With its Hotel use approval, the asset will be an opportunity for astute investors looking to acquire a freehold boutique hotel that is strategically placed in a prime, city-fringe location that is also recognised as one of the top tourist destinations in Singapore.”

Mr. Tay adds, “Rejuvenation of the district is expected to intensify, largely spurred by the ongoing construction of the North-South Corridor (NSC) along Sungei Road. With the completion of the NSC in 2029, accessibility into the nearby Bugis / Ophir Rochor corridor will be further improved not only for vehicular traffic via underground channels, but also for pedestrians through a network of community and green spaces on street levels along the NSC. Aside from further bolstering dynamism and vibrancy to the Little India district, these enhancements in connectivity and accessibility to the nearby Bugis / Ophir-Rochor corridor will further support the precinct’s rejuvenation as a must-visit tourist destination. The long term potential for this location, coupled with the strong recovery of the tourism sector, is likely to attract strong interest from a wide range of investors such as family offices, boutique real estate funds, local companies, owner-occupiers, and high-net-worth individuals.”

Subject to approval from the relevant authorities, the incoming owner can explore multiple value enhancement options to unlock future capital values for the asset. There is potential to build-up the roof terrace on the third storey into additional guest rooms as the asset is currently sitting on an envelope control site. The incoming investor can also look to boost room rates by refurbishing the guest rooms into a theme-based boutique hotel given Little India’s strategic placement as a popular tourist destination, or a co-living facility to accommodate the growing demand of city fringe living from expatriates and the local population.

Sandpiper Hotel enjoys seamless connectivity being located at the focal point of three MRT Stations – Rochor (2-mins walk), Jalan Besar (4-mins walk) and Little India MRT Interchange (8-mins walk). It is also well-served by major roads and expressways such as the nearby Central Expressway (CTE), making it highly accessible from other parts of Singapore. Connectivity will be further enhanced with the completion of the NSC, which is located right next to the subject property.