MALACCA Hotel along Still Road and a two-storey residential block on Koon Seng Road have been put up for collective sale, with an indicative price tag of S$21 million.
The two properties will be sold as a bundle through a tender, which closes at 3pm on March 24.
Malacca Hotel is a three-storey boutique hotel with 29 rooms. The Koon Seng Road property now does double duty as a workers’ quarters and as the administrative office of Malacca Hotel, said sole marketing agent CBRE on Monday.
Together, the two properties create a site area of 14,661 square feet (sq ft), which works out to a S$960 price tag per sq ft per plot ratio, subject to development charges payable for the two sites.
They sit in heart of Joo Chiat, a neighbourhood distinguished by its rows of Peranakan-style shophouses preserved from the 1920s; there are also many restaurants, bars and contemporary cafes in the area.