Colliers International, Singapore

International property consultant, Colliers International is putting up for sale, by auction, nine adjoining refurbished two-and-a-half-storey pre-war shop-houses located at 18-34 Belilios Lane, off Serangoon Road.  The auction will be held on September 23, 2009 at The Amara Hotel.  

Occupying a total land area of 9,911 sq ft, the subject property – also known as Tekka Hotel – holds nine separate titles. It comprises 50 guest rooms and six retail/restaurant space, and has a total gross floor area of approximately 20,397 sq ft. A passenger lift is available for easy access to the upper storeys.
The retail shops located on the ground floor are currently tenanted at a combined rent of S$54,900 per month and the last tenancy will expire in September 30, 2012.

Under the 2008 Master Plan, the subject property, which is located in the Little India conservation area, is zoned for “Commercial” use.  It has a 99-year leasehold tenure with effect from March 8, 1995. 

Ms Grace Ng, Deputy Managing Director (Agency and Business Services) of Colliers International, says, “The sale of Tekka Hotel presents a timely opportunity for investors who are looking to capitalize on the booming hospitality industry, which recorded 10.8 million tourist arrivals in Year 2008 and a projected 17 million visitors by Year 2015.  Demand for hotel accommodation is, hence, expected to spill over to those located in the city fringe areas such as Little India.  

Additionally, with an increasing number of budget-conscious tourists – hailing mainly from neighboring countries including China, India, Malaysia, Myanmar and Vietnam – budget hotels would be a popular choice among them.”

Ms Ng continues, “The property’s strategic location in Little India, which oozes a rich cultural heritage, also serves as an additional appeal to tourists.  Little India is becoming a bustling ethnic enclave, which comprises a vibrant mix of religious buildings, retail malls, traditional Indian shops, and budget hotels housed in both pre-war shop-houses and medium-rise modern buildings.” 

Prominent developments in the vicinity include Mustafa Centre, the recently-revamped Tekka Centre, the upcoming 11-storey City Square Mall, as well as the Little India Arts Belt and the upcoming Indian Heritage Centre.  The subject property is also located within walking distance to the Little India MRT station and is easily accessible via Central Expressway and East Coast Parkway. 

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 12,700 employees span the world in 294 offices in 61 countries. On a worldwide basis, Colliers manages 1.1 billion square feet, and has revenue of $US 1.6 billion.

Contact Information

Ms Seah Li Ching
Assistant Manager, Marketing & Communications
Tel:  65 6223 2323
Direct: 65 6531 8545

Ms Grace Ng
Deputy Managing Director (Agency and Business Services)
Tel: 65 6223 2323
Direct: 65 6531 8500

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