Jones Lang LaSalle's Hotels & Hospitality Group
has been appointed
as exclusive advisor to RB Capital Farrer Hotel Pte Ltd., in the sale
of the newly opened Park Hotel Farrer Park, Singapore.
Occupying a prominent site in the revitalised
Farrer Park area with direct connection to Farrer Park MRT
station, the hotel is situated in close proximity and connected
via the MRT to the Central Business District, Orchard Road, and
Marina Bay Area.
Opened in May 2017, the 20-storey hotel
features 300 guestrooms and duplex lofts. The hotel is also
conveniently linked to 42 medical suites and is adjacent to an
integrated medical facility which houses the Farrer Park Hospital,
allowing for an unique opportunity to capture medical tourism
demand as well as leisure and corporate demand.
JLL Hotels & Hospitality Group’s Managing
Director, Nihat Ercan, said, “It is no surprise that the hotel has
attracted such interest as there remains a strong desire to own
Singapore hotel assets amongst domestic and international
investors. Singapore is a target investment destination for global
buyers looking to deploy capital in a stable economic and
political environment, as well as an excellent performing hotel
Offered for sale with the option of vacant
possession or with Park Hotel Group managing the property, the
hotel represents a good opportunity for an investor to acquire a property in one of Asia's most coveted
hospitality real estate markets.
“With the excitement of new brands coming
into the market, the hotel is particularly attractive due to the
vacant possession and ability of the incoming owner to brand the
hotel of their choice. The Park Hotel Farrer Park is the first
Singapore hotel to be offered to the market since the last
comparable sale of the Grand Park Orchard and Westin Singapore in
2013 and presents a rare opportunity to own a significant asset in
the tightly held Singapore market,” Mr. Ercan added.
More detailed information on the hotel, including
financial, legal, and property information, is available for
review upon the execution of a confidentiality agreement.
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