Garcha Group puts up Duxton Reserve Singapore for sale at more than $90 mil

A row of eight 3-storey conservation shophouses managed by the Garcha Group have been offered with a guide price of greater than $90 million. Collectively, the shophouses consist of the 49-key Duxton Reserve Singapore hotel and the overview cost translates to about $1.8 million per key.

According to an Oct 23 news release issued by JLL the exclusive advertising agent, the amalgamated real estates remain on a 9,775 sq ft site and have a built-up area of around 34,000 sq ft.

“Shophouse accommodations in Singapore match the growing need for immersive social expertises and deliver possible for capital valuation and secure revenues due to minimal stock on the market,” says Tan Ling Wei, top vice-president, investment sales, at JLL Hotels & Hospitality Team, Singapore.

The Duxton Reserve and Maxwell Reserve originally released in 2018 as Six Senses Duxton and Six Senses Maxwell, and were actually the very first venture right into Singapore by the international health and hospitality brand Six Senses. Garcha Team and Six Senses acknowledged “mutually finish” the deal in May 2020, and Six Senses has since left Singapore.

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She includes that the real property released in 2021 and demands limited capital expenditure in the nearby term. In addition, the activation of extra usual areas geared to host activities or pop-up stores has the potential to yield additional rent earnings.

The inn has a mix of guestrooms and suites that vary from 559 to 215 sq ft. The lodging features a combine of Chinese, Malay, and European design components by British interior creator Anouska Hempel.

JLL has disclosed that the 49-key Duxton Reserve Singapore are going to be offered with an expression of interest exercise.

These days, the Duxton Reserve Singapore is franchised within the Marriott International brand name and is the first Singapore hotel branded under its Autograph Collection, an international selection of independent upscale deluxe hotels among the Marriott International portfolio.

The Duxton Reserve Singapore helped to establish Garcha Group, and Satinder Garcha, the firm’s creator and chairman, as a community hotelier. His spouse, Harpreet Bedi is the handling supervisor of the couple’s accommodation establishment Garcha Hotels. Garcha Group also runs 3 various other resorts in Singapore– Maxwell Reserve, The Vagabond Club on Syed Alwi Roadway, and Serangoon Property.


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