Luxury Heritage Hotel Qt Singapore Robinson Road Sale
QT Singapore, a luxurious heritage hotel located in the Central Business District (CBD), has been listed for sale. The prestigious property is being marketed by JLL Hotels & Hospitality Group and CBRE as its exclusive joint agents. At this time, JLL has not disclosed a specific guide price for the property.
The hotel, which boasts 134 rooms, is situated in a heritage building along Robinson Road that was previously home to the Eastern Extension Telephone Company in the 1920s. The building, known as the Ogilvy Centre, was sold to Royal Group through a URA tender in 2011.
Royal Group transformed the building into the So/ Singapore hotel, which opened in 2014. In 2022, Vietnam real estate company Viva Land purchased the hotel for $240 million, equivalent to $1.8 million per room. In the following year, Viva Land sold the hotel to Sunray Woodcraft Construction for a reported $170 million to $180 million, or $1.27 million to $1.34 million per key.
After closing for renovations in 2024, the hotel was rebranded as QT Singapore. The property, managed by Australian hospitality company EVT, opened in September of the same year, becoming the first QT hotel outside of Australia and New Zealand.
Located opposite the iconic Lau Pa Sat hawker centre in the CBD, the hotel is within walking distance to four MRT stations: Downtown and Telok Ayer (Downtown Line), Shenton Way (Thomson-East Coast Line) and Raffles Place (East-West and North-South Line). Tan Ling Wei, senior vice president at JLL Hotels & Hospitality, describes the hotel’s prime location as ideal for catering to the increasing demand for authentic, experiential stays. The property’s adaptive reuse of a heritage building also adds to its appeal among investors in Singapore’s thriving hospitality sector.
JLL notes that the sale of QT Singapore comes at a time when there is renewed interest in Singapore’s hotel market, driven by a surge in capital focused on this asset class and lower interest rates. Recent hotel deals include The Garcha Group’s sale of Duxton Reserve, a 49-room boutique hotel on Duxton Road, for $80 million ($1.63 million per key) to a family office in May, and 8M Real Estate’s sale of 21 Carpenter, a 48-room boutique hotel on Carpenter Street, for $100 million ($2.08 million per key) in April.
Andrew Hunter, senior director for hotels and hospitality at CBRE Asia Pacific, points out that incoming investors are taking advantage of the rebound in international travel and are aware of the undersupply of lifestyle luxury hotels in Singapore.