Big Hotel back on market - now with leaseback deal
Asking price is expected to be S$270m-S$280m
[SINGAPORE] Big Hotel along Middle Road is back on the market - this time on a sale-and-leaseback arrangement.
It is being offered through an expressions of interest (EOI) exercise being conducted by JLL. Submissions are due on Oct 28.
The expected asking price for the 308-room freehold hotel, which opened in May last year, is understood to be between S$270 million and S$280 million, translating into between S$877,000 and S$909,000 per room.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
New York City’s rent-stabilised tenants face third year of price hikes
New Zealand house prices dip for first time in 8 months
Blackstone in talks to buy Dulwich schools in Singapore, Seoul for US$600 million
Strained Chinese cities struggle to pay home-buying subsidies
Distressed builder Taeyoung wins debt restructuring vote
China Evergrande to delay 2023 annual results; shares remain suspended