CBRE and Savills Singapore have announced the sale of Weave Suites – Midtown, a meticulously restored heritage hospitality asset located at 17–49 Jalan Sultan in Singapore’s vibrant Bugis/Ophir-Rochor corridor. The property is being offered through an Expression of Interest exercise, closing on 13 August 2025.
The asset comprises 17 adjoining two-storey conservation shophouses with mezzanine levels, featuring 65 hotel suites and ground-floor retail units. It boasts a dual road frontage of approximately 90 metres along Jalan Sultan Road and Pahang Street, offering valuable branding opportunities. The property underwent a comprehensive refurbishment in 2023, enhancing it with modern hospitality features such as meeting rooms, shared lounges, a gym, and a fully equipped kitchen.
Yap Hui Yee, Executive Director of Investment Sales & Capital Markets at Savills Singapore, highlighted the property’s uniqueness, stating, “Weave Suites – Midtown is one of the last few remaining heritage hotels in Singapore housed within a full row of conserved shophouses – a truly scarce asset in today’s market.”
The property presents strong upside potential, with permanent approvals for hotel and F&B use, and rooms averaging 23.5 sqm. Investors can expect a yield of approximately 3%, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable. Clemence Lee, Executive Director of Capital Markets at CBRE, noted the growing interest in boutique hotels within conservation shophouses, driven by strong market fundamentals and Singapore’s position as a leading hospitality market in Asia Pacific.
“`
