Fine Grain Property successfully managed the redevelopment and construction of a 300-room hotel and managed a competitive tender process to bring on board a FTSE 100, international hotel operator to manage the property.
Responding to the enhancement of the Beach Road precinct and the demand from international hotel groups to establish a presence in Singapore, Fine Grain Property put together a club of investors to invest in the re-development of an office block into a hotel.
Fine Grain Property was instrumental in obtaining approval for an increase in the plot ratio of the building from 4.2 to 5.0, adding over 20% to the allowable area of the Property; development of plans for a 300-room hotel; and arrangement of bank financing for the redevelopment.
Fine Grain Property was appointed to manage the re-development of the property into a 300-room, international, branded, limited-service hotel.
Fine Grain assembled a first class team of professionals, and developed a functional yet stylish (and buildable) design, targeted at the 3-4 star market. Innovative sourcing of materials was employed to significantly enhance quality and construction productivity e.g. 297 pre-assembled bathroom pods were sourced from Vietnam. Hands-on, practical management of the project team and the contractor delivered on the expectations of all parties, in a collaborative and effective project atmosphere.
Fine Grain Property managed a detailed request for proposals process from global hotel companies, securing a high quality international operator on a management contract with additional financial support from its U.K. listed parent company.
The combination of an appropriate hotel brand in this excellent location, with innovative design and robust financial guarantees in place, contributed to making the investment a uniquely profitable hospitality offering.
Prior to completion, Fine Grain Property pre-negotiated an exit of its own investment at a significant premium.