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Fortuna Hotel up for sale with S$98.8m guide price

Seven-storey property will appeal to investors with long-term investment horizon: CBRE official

Published Wed, Oct 28, 2020 · 09:50 PM

Singapore

FORTUNA Hotel at 2 Owen Road, just across the road from Mustafa Centre, has been launched for sale by tender with a guide price of S$98.8 million, sole marketing agent CBRE said on Wednesday.

Its tender will close at 3pm on Dec 10.

Located at a junction along Owen Road and Serangoon Road, Fortuna Hotel occupies a freehold site of 8,332 square feet (sq ft). The site has a gross plot ratio of 3.0 and is zoned for hotel use, based on the Urban Redevelopment Authority's 2019 Master Plan.

Spanning seven storeys with an estimated gross floor area (GFA) of 47,990 sq ft, Fortuna Hotel has 106 rooms with sizes ranging from 17-49 square metres (sq m), CBRE said. It comprises one restaurant and four retail shops on the first storey, as well as a basement car …