Concorde Hotel and Shopping Centre up for collective sale at S$820 million 

CONCORDE Hotel and Shopping Centre, an Orchard Road property majority-held by Ong Beng Seng’s Hotel Properties Ltd (HPL), has gone on the market at a guide price of S$820 million. 

The mixed use development sits on a 99,623 square feet (sq ft) site at 100 Orchard Road, zoned for hotel use, with height control of up to 10 storeys. The property currently comprises a three-storey retail podium and a 407-room hotel.

 At S$820 million, Concorde Hotel and Shopping Centre is being marketed at about S$1,801 per square foot per plot ratio (psf ppr), said marketing agent Savills Singapore on Tuesday (Sep 3). That per square foot land cost builds in a S$213.1 million premium to top up the lease to a fresh 99 years, and assumes the site is rebuilt to include a hotel on 40 per cent of the gross floor area, residential use for another 40 per cent of GFA, and commercial use for the remaining 20 per cent. The property has about 54 years left on its lease.