Singapore luxury hotel in century-old building sold for over $200M
QT Singapore, a luxury heritage hotel located in a building that dates back to the 1920s, has been sold for more than S$260 million (US$203.5 million).
Singapore's luxury hotel market witnessed a significant transaction as a boutique hotel in a century-old building was sold for over $200 million. The 134-room property, located in the Central Business District on Robinson Road, boasts proximity to various international financial institutions, multinational companies, and entertainment venues including Marina Bay Sands.
The buyer is a family office while the seller is Sunray Singapore, an investment company under the control of the Tan family, owners of the Sunray Group. The boutique hotel, originally known as Hotel Telegraph, was refurbished and rebranded under the QT Hotels & Resorts brand in 2024. QT is a subsidiary of the Australian hospitality group EVT.
The property, situated on a 1,860-square-meter plot, has a total floor area of 7,450 square meters. Its 45-year lease, expiring in 2071, makes it a prime location in Singapore's ever-evolving luxury hotel market. Prior to its rebranding, the building had a rich history, serving as the headquarters of the Eastern Extension Telegraph Company and later as the headquarters of advertising agency Ogilvy & Mather before being converted into a hotel in the 2010s.
Sunray Group, a prominent building and interior fit-out specialist in Singapore, handled the interiors of major projects like Marina Bay Sands and Jewel Changi Airport. The company, established in 1987, is led by second-generation leader Charles Tan.
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