Le Méridien Saigon - OFFLINE

Overview

Type: 
Land area: 
3,236 sqm
Unit area: 
0 sqm
GFA: 
52,136 sqm
NLA: 
0 sqm
Hits: 
208
General Information
· Developer: Tien Phuoc Real Estate JSC
· Property manager: Savills Vietnam Co., LTD
· Street no: 3C · Street: Ton Duc Thang · Ward: Ben Nghe · District: 1 · City: Ho Chi Minh City
· Project (GFA): 52,136 sqm

All areas are approximate and as reported.

Property Notes

General description:

Le Méridien Saigon is a mixed-use building comprising grade A office spaces and 5-star hotel. Total scale: 2 basements, 2 mezzanines and 23 levels. It located on Ton Duc Thang Street near Lotte Legend Hotel Saigon. The building is on the banks of the Saigon River in District 1, providing convenient access to the CBD. The hotel offers 343 guest rooms including 26 suites and other supporting facilities of meeting rooms, restaurants and club lounges.

Legal/ developer overview:

Leasehold title, expiring on 12 August 2059. Land use right certificates No. CC615640 and CC615641 dated 04 November 2015.

Merger & acquisition &/or sale:

Mitsubishi Estates was reported to purchase about 11,000 sqm of office area from Tien Phuoc Real Estate JSC/ 990 Co Ltd. The transaction date was reported to be in Q1 2016. The price was reported ranges from US$41-43 million. We have applied US$42 million for our sales analysis. Assuming a passing rent at the time of sale at US$27 per sqm net per month we estimate the annual income is about US$4,00,000. The yield at passing rent equates to 8.9% net. 

Marketing, leasing or asking price:

Prices updated Q4 2018.

Hotel: (all prices are per night plus taxes and service charge, prices are as reported).

Premier Classic Room with King/Double beds, city/river views (38 sqm). US$232 - US$252. 

Grand Deluxe Room with King/Double beds, city view (55 sqm). US$269.

Club Deluxe Room with King/Double beds, city view (55 sqm). US$325.

Grand Classic Room with King/Double beds, city/river views (38 sqm). US$232-US$306.

Grand Suite Room with 1 Bedroom Larger Suite, 1 King, river view. US$362.

Executive Suite with 1 king bed, river view (118 sqm). US$506.

Presidential Suite with 1 king bed, river view (200 sqm). US$1,938.

As reported Q4 2019:

Medium room rate was about from US$ 164.1 to US$277.86 per night (inculding taxes and fees).

General amenities

  • Bus station
  • Entertainment centre
  • Hospital
  • Local People's Committee
  • Metro station
  • Modern retail complex
  • Museum
  • School
  • Sporting complex
  • Supermarket/Minimart
  • Traditional market
  • University

Facilities

  • Club house (Project)
  • Food Court
  • Gymnasium
  • Lifts
  • Meeting room
  • Pool/s
  • Reception/ concierge
  • Spa
  • Bar (general)
  • Gym/fitness centre
  • Cafe
  • Conference centre
  • Restaurant

Add to saved properties Get alerts for free

There are many reasons to join the goREDN team, sales and transaction data, additional property info such as designers and mangers, asking price and price trends are all at your fingertips. Click here to join today.

Featured Companies