138-room The Porcelain Hotel for sale at $115m

The EOI exercise will close on 27 March 2020.

The 138-room boutique hotel, The Porcelain Hotel, has been launched for sale via expression of interest, according to an announcement by EDMUND TIE. The hotel is situated in the Kreta Ayer conservation area, Mosque Street.

The guide price for the property is at $115m, reflecting approximately $830,000 per room, or $2,950 psf on the gross floor area.

The property spans four storeys and occupies a land area of 10,143 sqft and an estimated gross floor area of 38,686 sqft.

As the property sits on land zoned for commercial use, foreigners are eligible to purchase the building. There will also be no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

The property’s Expression of Interest exercise will close on Friday, 27 March 2020, at 3 p.m.