Owners are looking to unlock capital and redeploy funds into other business and investment opportunities
Description
【Even after factoring lease top-up and redevelopment, it remains palatable vs fully rebuilt assets in the area] Asking Price: S$16M, inclusive of property and hostel licence 1) A unique long-term opportunity for investors to acquire a rare prime District 1 backpacker hostel asset — ideal for operators seeking control over their own business premises instead of facing future rental escalations after investing heavily into branding, fit-outs and operations. 2) Currently underbuilt relative to allowable intensity. Clear upside for those looking to rebuild, top up lease and reposition. Potential huge upside after top up lease to a fresh 99-year tenure and explore redevelopment into a new hotel development. 3) Existing backpacker hostel licence is transferable, allowing buyers to potentially continue operations with greater ease and reduced setup lead time. Property Details: ~Leasehold ~Land approx. 1,884 sqft ~Existing built-up approx. 5,074 sqft ~Commercial zoning | GPR 4.2 ~4 storey ~Currently usage ~ Backpacker Hostel (Owner Operate） ~Selling vacant — buyer can immediately plan for redevelopment and GFA maximization. No need to deal with tenancy, no downtime. Please contact me for more information and viewing, thank you. Eva Lau, ERA, R062169F, +65 92785688
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Singapore
