Lotus One Investment Pte Ltd has acquired the Duxton Reserve Singapore, a 49-key luxury boutique hotel, from the Garcha Group for $58m (S$80m). The transaction, facilitated by JLL Hotels & Hospitality Group, marks a strategic move for both parties, allowing the Garcha Group to focus on new development projects and expand its brand internationally.
The Duxton Reserve, part of Marriott International’s Autograph Collection, is renowned for its unique design by British designer Anouska Hempel and its location within conserved heritage shophouses in Tanjong Pagar. The Garcha Group, known for its heritage-rich luxury properties, will continue to manage the hotel to ensure a seamless transition.
Satinder Garcha and Harpreet Kaur Bedi, founders of the Garcha Group, expressed pride in the project, stating, “Duxton Reserve has been a defining project for us, and we’re incredibly proud of what we built. We are excited about the potential for long-term collaboration and the continued journey of Duxton Reserve.”
For Lotus One Investment, the acquisition aligns with its strategy of investing in culturally significant assets. Nirmal Singh, Director of Lotus One Investment, commented, “Duxton Reserve is an iconic and rare asset that embodies cultural richness and architectural distinction, values that align closely with our long-term philosophy.”
The sale attracted significant interest, highlighting the growing appeal of boutique heritage properties. JLL’s Ling Wei Tan noted the strong investor interest due to the asset’s quality and uniqueness. Lighthouse Canton, acting as portfolio adviser, supported Lotus One Investment in evaluating the opportunity as part of its broader strategy.
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