Garcha Group puts up Duxton Reserve Singapore for sale at more than $90 mil

A row of eight 3-storey conservation shophouses owned by the Garcha Group have been put up for sale with a guide price of more than $90 million. Collectively, the shophouses comprise the 49-key Duxton Reserve Singapore hotel and the guide price translates to approximately $1.8 million per key. According to an Oct 23 press release issued by JLL the exclusive marketing agent, the amalgamated properties sit on a 9,775 sq ft site and have a built-up area of about 34,000 sq ft. The hotel has a mix of guestrooms and suites that range from 559 to 215 sq ft. The hotel features a mix of Chinese, Malay, and European design elements by British interior designer Anouska Hempel. Read also: New launch of 10 strata villas at The Green Collection from $1,190 psf Advertisement Advertisement The Duxton Reserve Singapore helped to establish Garcha Group, and Satinder Garcha, the company’s founder and chairman, as a local hotelier. His wife, Harpreet Bedi is the managing director of the couple’s hospitality business Garcha Hotels. Garcha Group also owns three other hotels in Singapore — Maxwell Reserve, The Vagabond Club on Syed Alwi Road, and Serangoon House. The Duxton Reserve and Maxwell Reserve originally debuted in 2018 as Six Senses Duxton and Six Senses Maxwell, and were the first foray into Singapore by the global wellness and hospitality brand Six Senses. Garcha Group and Six Senses agreed to “mutually terminate” the contract in May 2020, and Six Senses has since exited Singapore. See also: Hotel owner Satinder Garcha sues former GM of Six Senses Duxton and Maxwell Today, the Duxton Reserve Singapore is franchised under the Marriott International brand and is the first Singapore hotel branded under its Autograph Collection, a global collection of independent upscale luxury hotels within the Marriott International portfolio. “Shophouse hotels in Singapore meet the growing demand for immersive cultural experiences and offer potential for capital appreciation and stable returns due to limited supply in the market,” says Tan Ling Wei, senior vice-president, investment sales, at JLL Hotels & Hospitality Group, Singapore. She adds that the property debuted in 2021 and requires limited capital expenditure in the near term. Moreover, the activation of spare common spaces geared to host events or pop-up stores has the potential to generate additional rental income. JLL has announced that the 49-key Duxton Reserve Singapore will be put up for sale through an expression of interest exercise. Read also: Hotel owner Satinder Garcha sues former GM of Six Senses Duxton and Maxwell Advertisement Advertisement