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Baker & McKenzie.Wong & Leow Advises Park Hotel Group On Landmark Hotel Sale In Singapore.

31 October 2013


Baker & McKenzie.Wong & Leow, the member firm of Baker & McKenzie in Singapore, has advised on the sale of Grand Park Orchard hotel in Singapore.


The Firm acted as Counsel to the Park Hotel Group on the sale of the hotel, including its retail podium Knightsbridge, to Glory Property Investment Singapore Pte. Limited. The team was led by Principal Kelvin Poa and supported by associates Gerald Heng and Ting Xiao Hui.


The transaction is reported to be the single largest private-sector property transaction in Singapore and also sets a benchmark price for Singapore hotel rooms.


Grand Park Orchard hotel is the Park Hotel Group’s flagship property in Singapore and commenced operations in the second half of 2010 after an S$80 million makeover of the former Park Hotel Orchard. It is an award-winning hotel situated along Orchard Road and has 308 rooms including approximately 74,000 square feet of net lettable area of retail space.


Principal Wong Ai Ai, commented “it has been a pleasure to work again with Park Hotel Group on this transaction. This sale demonstrates our strength in advising on large and complex transactions in Singapore, particularly in the hotel sector. It caps off a successful year for our team in advising on hotel sector matters, having advised on several similar sales in 2013.”


Earlier this year, Baker & McKenzie.Wong Leow advised ParkSing Property Pte Ltd on the sale of Park Hotel Clarke Quay which was awarded Best Exit of the Year at REIW Asia Awards for Excellence.

 

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