Sandpiper Hotel in Little India back on the market for S$33 million

SANDPIPER Hotel in Little India is back on the market via expression of interest with a lower indicative price of S$33 million, said exclusive marketing agent CBRE on Wednesday (May 15).

The three-storey freehold property was previously put on the market in 2022 at a guide price of S$35 million. It has 31 guest rooms, a restaurant on the ground floor, and a basement.

The new price translates to around S$1.06 million per key. The boutique hotel sits on a land parcel spanning 2,556 square feet (sq ft) zoned for commercial use, with permanent hotel approval. It has a total floor area of around 8,538 sq ft.

Foreigners and companies are eligible to purchase the property, and no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty will be imposed.

“Boutique hotels with a palatable investment quantum of less than S$50 million are usually tightly held and these assets are seldom available for sale,” said CBRE Singapore head of capital markets Michael Tay.

CBRE said the incoming owner will be able to explore multiple value enhancement options to unlock future capital values, depending on approval from relevant authorities.

Options include converting the roof terrace on the third storey into additional guest rooms. Refurbishing the guest rooms into a theme-based boutique hotel could also help raise room rates, CBRE said.

Tay expects the district’s rejuvenation to intensify, spurred by the ongoing construction of the North-South Corridor (NSC) along Sungei Road.

“With the completion of the NSC in 2029, accessibility into the nearby Bugis or Ophir-Rochor corridor will be further improved not only for vehicular traffic via underground channels, but also for pedestrians through a network of community and green spaces on street levels along the NSC,” Tay said.

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Freehold boutique hotel in Little India up for sale at S$35m guide price

Sandpiper Hotel is a two-minute walk from Rochor MRT Station and eight minutes away from Little India MRT Interchange. It is also accessible from major roads and expressways, such as the nearby Central Expressway.