Malacca Hotel and Koon Seng Road Property En Bloc Sale 2021

Malacca Hotel and Koon Seng Road Property En Bloc Sale

2 adjoined sites at 137 Koon Seng Road and Still Road Malacca hotel property have been put up for sale in the collective sale market.

CBRE, the appointed and exclusive marketing agent for the sale announced the news.

The combine site has a total land area of 14,661 square feet and a guide price of S$21 million.

Base on the guide price, the land rate works out to around S$960 psf ppr, URA has confirmed that there will be minimal development charges payable for this combine land plot.

Both freehold sites have been marked for “Residential” use with 1.4 plot ratio, this is according to URA’s Master Plan 2019.

The combine site has huge advantages, it enjoys high visibility due to strategically located at the junction of Koon Seng Road and Still Road.

The en bloc commercial property Malacca Hotel, sits at 97 & 99 Still Road. It is a 3-storey boutique hotel with total of 29 rooms.

The 137 Koon Seng Road site is a 2 storey residential block that has been served as a workers’ quarters and used for administrative purposes for the Hotel’s operations.

Associate Director of CBRE Hotels, Mr. Teo Junrong said that this attractive freehold site offers a great opportunity for any investors who want to capitalize on the Katong/Joo Chiat’s rejuvenation and such site is very rare in the current market.

He also points out that as for redevelopment, investors or developers can retain the current use or build a new boutique residential development in this popular district.

Co-living space is another option that can be used on this site which can offer mix of short-stay and long-stay accommodation, Mr. Teo added.

District 15 Peranakan Shophouses

Freehold Site in Popular District 15

The combine site is located in Popular and vibrant District 15 of Singapore.

It is a home of the ultimate lifestyle of perks and conveniences located within, having easy and direct access to all the exciting local amenities and an array of shopping malls, dining and entertainment establishments, business districts and public transport system.

The upcoming Marine Parade MRT station which will be completed by 2023, is near to the en bloc site which will boost the connectivity even more.

With the help of the Pan-Island Expressway (PIE) and East Coast Parkway (ECP), one can reach several places in short time.

CHIJ Katong Primary School and Tao Nan School are the nearby educational institutions.

There are also numerous bars, restaurants and hipster cafes served in the area.

The public tender for this combine site will be close on March 24, 2021 at 3pm.

Malacca Hotel & Koon Seng Road Property En Bloc Details

Malacca Hotel Koon Seng Road En Bloc Sale 2021 Pinterest
  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 14,661 sq ft 

  • Gross Plot Ratio: 1.4

  • Property Address: 97 & 99 Still Road & 137 Koon Seng Road

  • District: 15

  • Nearest MRT: Marine Parade (2023)

  • Marketing Agent: CBRE Singapore

  • Reserve Price: S$21 million

  • Tender Close: 24 March, 2021

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