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

JLL has disclosed that the 49-key Duxton Reserve Singapore will be put up for sale with an expression of interest exercise.

“Shophouse hotels in Singapore meet the expanding demand for immersive cultural expertises and provide potential for capital appreciation and strong returns due to limited supply available,” claims Tan Ling Wei, senior vice-president, investment sales, at JLL Hotels & Hospitality Team, Singapore.

The Duxton Reserve and Maxwell Reserve originally come out in 2018 as Six Senses Duxton and Six Senses Maxwell, and were the very first venture into Singapore by the worldwide health and friendliness brand Six Senses. Garcha Team and Six Senses agreed to “equally close” the contract in May 2020, and Six Senses has already afterward departed Singapore.

Cuscaden Reserve condo price

At present, the Duxton Reserve Singapore is franchised within the Marriott International label and is the 1st Singapore accommodation organization under its Autograph Collection, a worldwide compilation of independent upscale luxury resorts within the Marriott International selection.

A row of 8 3-storey conservation shophouses operated by the Garcha Group have actually been put up for sale with a guide cost of more than $90 million. Jointly, the shophouses comprise the 49-key Duxton Reserve Singapore hotel and the guide value equates to about $1.8 million per key.

The inn has a blend of guestrooms and suites that stretch from 559 to 215 sq ft. The hotel offers a combine of Chinese, Malay, and European style features by British interior professional Anouska Hempel.

According to an Oct 23 press release provided by JLL the exclusive advertising and marketing representative, the amalgamated properties sit on a 9,775 sq ft location and have a built-up area of approximately 34,000 sq ft.

The Duxton Reserve Singapore assisted to develop Garcha Team, and Satinder Garcha, the company’s founder and director, as a community hotelier. His partner, Harpreet Bedi is the supervising supervisor of the couple’s accommodation establishment Garcha Hotels. Garcha Group also runs 3 other hotels in Singapore– Maxwell Reserve, The Vagabond Club on Syed Alwi Road, and Serangoon Property.

She adds that the real property debuted in 2021 and demands minimal capital investment in the near term. Additionally, the activation of extra usual spaces geared to host events or pop-up stores has the potential to generate more rent income.


error: Content is protected !!