Singapore: A freehold serviced apartment block, currently operated by Frasers Hospitality, has been put up for sale via tender.
The 22-storey tower block comprises 72 apartment units with sizes ranging from 760 to to 7,135 square feet. It is currently leased and operating as Fraser Residence Singapore. IT has been put up for sale with an indicative price of S$230 million.
The site is located in District 9, and is a five-minute walk from the Orchard Road shopping belt, with the Orchard and Somerset MRT Stations on the North-South Line also nearby. Anglo-Chinese School (Junior and Primary), River Valley Primary School, Singapore Chinese Girls’ Primary School and Chatsworth International School are all located within a one to two kilometre radius.
“Buyers have the option to either redevelop the plum site into a brand new luxury residential development to take advantage of the improved high-end residential market, or retain its existing serviced apartment use to continue catering to the rising demand from tourist and business travellers,” said Shaun Poh, executive director of capital markets at the property’s sole marketing agent Cushman & Wakefield.
