by Cheryl Tay
The seven-storey Park Regis Singapore (pictured) is back on the market for a sale by expression of interest (EOI) to be launched on Wednesday, according to marketing agent Colliers International.
Located at 23 Merchant Road, the integrated development was first launched for sale in August 2011 but no deal was finalised despite strong interest. Now on its second sale attempt, the property will be open for bids from 9 January next year.
Park Regis Singapore comprises a 203-room, four-star business and leisure hotel and an office tower with 41,452 sq ft in net lettable area (NLA), as well as 41 basement parking lots. It sits on a 99-year leasehold plot with an area of around 37,762 sq ft.
"Since the previous exercise, we have received several enquiries for the purchase of Park Regis, and the number of enquiries has intensified recently with a few indicative offers. Hence, this EOI exercise will provide a timely opportunity for serious parties to submit their best offers for the owner's consideration," noted Tang Wei Leng, Executive Director of Investment Services at Colliers International.
The integrated development is ideally located at the fringe of the Central Business District (CBD) and is close to nearby entertainment and dining attractions.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email firstname.lastname@example.org
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