Savills Singapore, as exclusive marketing agent, is pleased to announce for sale by Expressions of Interest, a freehold hotel along Sims Avenue.
Savills Singapore, as exclusive marketing agent, is pleased to announce for sale by Expressions of Interest, a freehold hotel along Sims Avenue known as Regin Hotel (‘Subject Property’).
Currently operating as a budget hotel, Regin is located near the junction of Sims Way and Sims Avenue, at the fringe of Geylang, towards Kallang and Lavender. It consists of 46 rooms spread over 5 levels and caters to the budget travelers; mostly from the neighboring Asean cities. Over the years, it has also built up a pool of regular corporate clients (from the nearby industrial estate) returning to stay for its comfort and familiarity.
The hotel comes in a good mix of bed types of Single to Family Suites; with its own internal bathrooms with shower facilities. Access to the upper levels is served by a passenger lift and staircases. On the ground level, beside the main entrance is a purpose built ramp for easy handling of luggage and wheelchair access. There are 4 sheltered lots within the hotel and a public car park by the side of the building.
In the immediate vicinity, there are abundant of amenities within walking distance. Many popular eateries / restaurants well known to locals and tourists alike, are located just a short walk away, along the main Geylang Road and Sims Avenue. The hotel is surrounded by other private apartments, shophouses and small industrial buildings.
The hotel’s location is approximately 550m or about 8 minutes’ walk to the Kallang MRT Station (EWL). Raffles Place Station is 4 stops away and Harbour Front Station where Vivocity and Sentosa are located is 7 stops away. In close proximity, is the Singapore Sport’s Hub. Marina Bay and Raffles Place is a short 10 minutes’ drive away via Nicoll Highway. Access to Changi Airport is equally convenient via the ECP located nearby.
“Sale of Regin Hotel offers established operators an opportunity to acquire for expansion and also, new comers an opportunity to own a ‘boutique-sized’ hotel which is manageable for a new start-up. With its eclectic vibe, interested parties can consider repositioning the hotel to a different category such as a themed boutique hotel or a hip and trendy hostel which will appeal to the adventurous millennial looking for fresh and exciting accommodation while on holidays in Singapore. Other value enhancement option is for existing operators to look at rebranding the hotel to their already established brand.” commented Savills Singapore.
Interested parties are invited to participate in the EOI by submitting their offer or interest on or before closing date, 15th November 2017, Wednesday 3pm.