Freehold hotel development site at Killiney Road for sale | / Property news / Freehold hotel development site at Killiney Road for sale

Freehold hotel development site at Killiney Road for sale

A freehold hotel development site in the Orchard Road precinct is up for sale, for above $155 million. JLL’s Hotels & Hospitality Group and Cushman & Wakefield are joint exclusive advisers to Lucrum Capital for the sale of the site.

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Located along Killiney Road, the site occupies a land area of 13,148 sq ft with a gross plot ratio of 2.8. Provisional permission has been obtained to rezone the site for hotel use. This would mean foreigners are also eligible to purchase with no additional buyer’s stamp duty or seller’s stamp duty imposed.

Freehold hotel development site at Killiney Road for sale

Subject to final approvals, the proposed hotel would be a six-storey, 115-room development with a street-frontage restaurant on the ground floor. The development would yield a total gross floor area of about 40,000 sq ft.

The site is within a short three-minute walk from both Somerset MRT Station and Orchard Road. It is also well-connected to the rest of the island via the Pan Island Expressway (PIE), Central Expressway (CTE), and East Coast Parkway (ECP).

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