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Two hospitality assets flipped for 30-70% profit in just months
Darby Park Executive Suites seller pockets S$67 million gain, Wangz Hotel sold for S$14 million mark-up
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Kalpana Rashiwala
Published Wed, Sep 18, 2019 · 09:50 PM
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Singapore
TWO Singapore hospitality assets - one along Orange Grove Road and the other in Outram Road - have been flipped for handsome gains after holding periods of just under a year.
The Outram Road deal, involving the distinctive barrel-shaped Wangz Hotel, yielded a gross gain of about 30 per cent or S$14 million over a period of just three months.
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