CBRE has been appointed as the exclusive marketing agent for the sale of a new, freehold 7-storey hotel – Mama Shelter Singapore Orchard, located at 110 Killiney Road (“the Property”). The sale will be conducted via an Expression of Interest exercise, which will close on Thursday, 30 May 2024, at 3pm.

The 7-storey iconic hotel asset commands the exclusive District 9 address in the heart of Singapore’s Orchard precinct, occupying a premium freehold land parcel of circa 13,148 sq ft. with a total floor area of approximately 39,628 sq ft. With an impressive 40-metre-wide main road frontage along Killiney Road, Mama Shelter Singapore Orchard will have 115 meticulously-curated guestrooms that are supported by exceptional facilities such as a restaurant on the ground floor and an exclusive rooftop pool and bar. Designed by award-winning architects Ong & Ong, the hotel targets to obtain the highest green building certification in Singapore – the BCA Green Mark Platinum. It is expected to open its doors in Q1 2025. Operated by Ennismore (part of Accor, one of the world’s leading hotel companies) under the Mama Shelter brand, Mama Shelter Singapore Orchard will be the brand’s first entry into Asia Pacific.

As of 31 December 2023, there are 18 Mama Shelter hotels totaling 2,600 rooms globally. Indicative price for the hotel is S$195 million or approximately S$1.7 million per key. As per the URA Master Plan 2019, the site is currently zoned “Hotel” with a GPR of 2.8. Foreigners will be eligible to purchase the development with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD).

Michael Tay, CBRE Head of Capital Markets, Singapore, says, “Freehold hotels in the Orchard Road submarket are rarely available for sale and have always been regarded as generational trophy assets that bestow great prestige and privilege. Furthermore, the majority of hotels in Orchard are sizable with more than 200 keys, making such boutique offerings scarce. This will be a unique opportunity for any astute investors to acquire a standalone hotel asset located along one of the most established high streets in the world. We expect this investment opportunity to appeal greatly and garner strong interest from a wide range of investors such as family offices, boutique real estate funds, local companies, and high-net-worth individuals.”

As one of the most famous high streets in the world, Orchard Road stands as the undisputed retail heart of Singapore. The 2.4-km long street has the highest congruence of retail developments in Singapore, with a total of 29 shopping malls and outlets, offering an eclectic array of international brands and local labels.

Mr. Tay adds, “Renewed vibrancy and dynamism is expected for Orchard Road as we observe multiple new projects in the pipeline. Notable examples include Grange Road Carpark (Q4 2024) and redevelopment of Singtel Comcentre, which is located right next to Mama Shelter Singapore Orchard.

The new development is projected to have a total gross floor area of more than 1.18 million sq ft, spread over two 20-storey Grade A Office Towers, a retail podium, a 300-pax auditorium, and an integrated wellness hub. Upon completion in 2028, the landmark development will stimulate economic growth through new commercial / retail offerings and enhanced connectivity with the new underground connection to Somerset MRT Station.”

Steve Carroll, CBRE Head of Hotels & Hospitality, Asia Pacific, says, “Singapore, one of the global leaders in the hotel markets, is poised for continued growth owing to balanced supply, aggressive demand growth forecast, significant infrastructure developments such as Changi Airport (T5), enhanced leisure attractions, and a thriving corporate and MICE market.”

Mama Shelter Singapore Orchard enjoys seamless connectivity with Orchard Road and Somerset MRT Station, which is just a short 4-minute walk away. It is also well-served by major roads and expressways such as Orchard Road and the nearby Central Expressway (CTE), making it highly accessible to other parts of Singapore. Connectivity will be further enhanced with the completion of the underground connection to Somerset MRT from Singtel Comcentre, which is located right next to the subject property.