Grand Oriental Hotel & York Street Building

Colombo

Colombo 01

LOCATION

1 Acre

Land Extent

Grand Oriental Hotel

This is an 82-room heritage hotel adjacent to the Colombo Port, strategically located inside the Colombo Fort Heritage area. The surrounding area will shortly be transformed to a Heritage square, with several other development projects commissioned to restore colonial architecture. The proposed construction of a cruise terminal would also attract direct connectivity of transit tourists to the hotel. The Hotel recently underwent refurbishment as part of its restoration and is expected to be positioned as the top boutique colonial hotel in the city.

https://www.grandoriental.com/

Project overview

This is the oldest heritage hotel in Colombo Fort, with direct connectivity to the Colombo port from the proposed cruise terminal construction. The surrounding area will be transformed to a heritage square, which will benefit the hotel occupancy and business operations substantially. Expansion potential of a further 160,000 sq. ft. is available in the York street building situated in very close proximity, while the hotel currently houses 80,000 sq. ft.
  • Payback period: 10 years
  • Scheduled commencement of commercial operation: To be completed within 2023
  • Current status of the project: Feasibility Report Stage for the new development and expansions

* Subject to Government Valuation

Project/ownership structure

100% ownership to the investor, JV, or Private Public Partnership considered.
Should it be a (PPP) a 49% divestment option to the investor will be followed.

Project incentives:

This project will have Strategic Development Status and the investor will obtain all facilities provided under this category.

The investment recovery could be expedited with the balance area for development with the most beneficial and viable business model.

High ROI can be achieved due to government initiatives and development plans to convert the Colombo Fort to a Heritage Square.

Strategic location

Situated in the heart of Colombo’s CDB, adjacent to the Port of Colombo, in close proximity to Port City.
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