Jurong hotel site up for sale

Jurong hotel site up for sale

SINGAPORE - The Urban Redevelopment Authority (URA) today launched 2 Jurong land parcels for sale by public tenders.

A residential site at Jalan Jurong Kechil and a hotel site at Jurong Town Hall Road have attracted bids from developers.

One developer has committed to bid at a price of not less than $23,964,237 on a 60-year lease term for the Jalan Jurong Kechil land parcel while another developer committed to bid at a price of not less than $101,988,888 for the Jurong Town Hall Road land parcel.

The Jalan Jurong Kechil site has a land area of about 1.02 hectares and a gross floor area of about 14,200 sq m with a lease option of 30 years, 45 years or 60 years.

It is zoned for residential development and can be developed into a condominium or flat. The successful tenderer of this site can also develop the site for retirement housing.

The tender for this site will close November 15 at 12 noon. Selection of the successful tenderer will be based on the tendered land price only.

Tenders below the accepted minimum price of $23,964,237 for a 60-year lease term or its equivalents of $17,973,178 for a 30-year lease term and $21,507,903 for a 45-year lease term will not be considered.

The hotel site is located at Jurong Town Hall Road and is close to Jurong Lake.

It has a land area of 0.9 hectare and a potential gross floor area of about 19,000 sq m. It is envisaged for a hotel development with a garden setting.

The tender for the site will close on Nov 20 at 12 noon. Selection of the successful tenderer will be based on the tendered land price only.

Any tender below the minimum bid price of $101,988,888 will not be considered.

paullim@sph.com.sg

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