Worldwide Hotels subsidiary snaps up Singapore’s Golden Wall Centre for hotel development

Freehold commercial property Golden Wall Centre has been sold en bloc for S$276.2 million (US$200 million) to City View Holdings, a wholly owned subsidiary of Worldwide Hotels, which owns and manages hospitality chains such as Hotel 81 and Hotel Boss.

Singapore’s Business Times reported that the amount was higher than the reserve price of S$260 million, which was similar to what the strata unit owners wanted in their first attempt at a collective sale two years ago.

Golden Wall Centre has a land area of approximately 2,250m² and is zoned for commercial use under Master Plan 2014. An application for hotel use at the existing approved gross floor area of about 11,000m² has been approved by the Urban Redevelopment Authority.

The property stands near Rochor MRT station on the Downtown Line, and within 400 metres to Little India MRT interchange, situated within the Beach Road/Ophir-Rochor Corridor which is envisioned to be a mixed-use cluster under Master Plan 2014.

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