A Cecil Street/ Telok Ayer Street commercial site has been launched for sale with a minimum public tender bid price of $623,730,000.
The Urban Redevelopment Authority (URA) said on Tuesday that the land parcel has a site area of about 0.8 ha and potential gross floor area (GFA) of 77,000 metre square.
It will be a high-quality office development of up to 50 storeys high occupied by business services and financial institutions.
Made available for sale through the Reserve List system on December 19 last year, URA received an application from a developer to put up the land parcel for public tender on May 31, 2013.
The land parcel, which will be directly connected t o Tanjong Pagar MRT Station, fronts Cecil Street and Telok Ayer Street. Part of the site will be set aside for open space.
The open space will form part of the green network extending through Tanjong Pagar Park and Duxton Plain Park to Pearl's Hill Park.
Tender for the site will close at 12 noon on 15 August 2013.