700 Beach up for sale again - as a hotel
Master Contract said to be eyeing $1m per room or lumpsum of $300m
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[SINGAPORE] Master Contract Services, which earlier this year entered into a deal to acquire the boutique office block 700 Beach with plans to redevelop it into a hotel, is said to be open to selling the asset on a completion basis.
That is, Master Contract is thought to be willing to deliver the completed hotel, which is expected to have about 300 rooms, along with assignment of a management contract entered into with the United Kingdom's Whitbread group to operate the hotel under the Premier Inn brand.
Located between Golden Mile Complex and Golden Mile Tower, 700 Beach is near Nicoll Highway MRT Station.
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