URA launches public tender for hotel site at East Coast

PHOTO: URA launches public tender for hotel site at East Coast

SINGAPORE - The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast for sale by public tender, it said on Friday morning.

Get the full story from The Straits Times.

Here is the full statement from the URA:

The Urban Redevelopment Authority (URA) has launched the hotel site at East Coast Road for sale by public tender today. The site was made available for sale through the Reserve List system on June 26, 2012.

On November 6, 2013, URA announced that it had received an application from a developer to put up the land parcel for public tender at a bid price of not less than $160,000,000.

Land parcel at East Coast Road

With a land area of 0.8 ha, the hotel site located at the junction of East Coast Road and Joo Chiat Road has a maximum gross floor area of about 24,716 m2. The land parcel also contains the historically and architecturally significant former Joo Chiat Police Station which shall be restored as part of the future hotel development.

More details on the land parcel are available on the URA website at http://www.ura.gov.sg/uol/land-sales-repository/Sites/east-coast-rd-l.aspx

The tender for the site will close at 12 noon on 21 January 2014. Selection of the successful tenderer will be based on the tendered land price only. Any tender below the minimum bid price of $160,000,000 will not be considered.

Developer's packets containing details of this site and conditions of tender are available at $107 each (inclusive of GST). These can be purchased from the Customer Service Counter on the 1st storey of The URA Centre, 45 Maxwell Road, Singapore 069118.

The developer's packets can also be purchased via URA-Online (delivery charges applicable) at http://www.ura.gov.sg/LspWeb.