Excelsior Hotel & Shopping Complex up for sale at $458m

It comprises a 5-level podium shopping centre and a tower block rising to 21 storeys

The Excelsior Hotel and Shopping Complex is up for sale via public tender at a reserve price of $458m.

The property is in the planning district of City Hall, where it is surrounded by key national monuments such as The Capitol, St Andrew’s Cathedral, The National Gallery, The Supreme Court and many more. 

Excelsior Hotel & Shopping Centre comprises a 5-level podium shopping centre and a tower block rising to 21 storeys accommodating 284 keys with rooms ranging from 25 sqm to suites up to 75 sqm. The site area is 1,932.2 sqm and the building has a verified GFA of 21,111.92 sqm or an as-built plot ratio of 10.93. The zoning in the Master Plan is ‘Hotel’ and its tenure is 99 years w.e.f. 17 August 1979.

The tender for the property will close on 18 April 2023 at 3:00PM. Cushman & Wakefield has been the appointed lead for the sale.