Singapore- Oxley Hotel, situated at Lorong 6 Geylang, is now up for auction. This property is an eight storey high hotel sitting on a freehold land. It encloses a land area of approximately 3,725 square feet.
The gross floor area of Oxley Hotel is 12,238 square feet. It has around 56 guest rooms and seven car lots for parking. The indicative price for this property is S$25 million.
According to the Master Plan 2008, the site of this Hotel is zoned for institution or residential use. It also has a gross plot ratio of 2.8.
For those who are interested over this property, the auction will be on November 21, 2014 at Amara Hotel.
According to Grace Ng, Colliers’ International deputy managing director, the supply of hotel in the Lorong Geylang area will be stable in the coming years as it would be unlikely for authorities to approve new site for hotel use. She added that this is a great opportunity for hotel operators to seize the property, especially if they wish to expand their services in the hospitality industry.
Lorong 6 Geylang is a vibrant area where food shops pop out almost everywhere. There are also retail shophouses, religious buildings, malls (Hexacube) and budget hotels in the vicinity. The area is actually perfect for travelers who wish to explore Singapore more without the need to put out humongous amount of cash.
