Selendiva seeks developers for iconic GOH and York Building

Selendiva Investments Ltd has called for Expressions of Interest (EOI) from investors for the development of the over 150-year-old iconic heritage properties Grand Oriental Hotel (GOH) and York Building as a high-end international boutique hotel.

“The aim is to meticulously refurbish and restore York Building, which houses the famed and historically renowned GOH to pay tribute its former glory,” the EOI notice stated.

GOH and York Building, which are part of the integral development in the proposed Heritage Square, consist of an available floor area of 220,226 square feet. Once fully developed, the anticipated high-end international boutique hotel is expected to have 110 luxury rooms, five conference rooms and five F&B outlets. 

Further, the building would also consist of spaces for 26 high-street retail outlets and 30 branded residences/suites.

Selendiva Investments last year completed the revamp of GOH, at a cost of Rs.250 million, as the first property under the entity. 

“Selendiva aims to commence the restructuring process for selected assets in the hospitality sector under the special purposed vehicle (SPV) Selendiva Leisure Investments by attracting investors and operational experts,” the notice stated.

Prospective investors with a proven track record of investments in developing assets in the hospitality sector and desire to partner with state-owned enterprise (SOE) development are invited to submit their EOIs on or before February 10, this year.

Selendiva Investments Ltd is an SOE and has the Treasury Secretary of the Finance Ministry as the sole shareholder.