URA releases Venture Avenue, Cecil Street commercial sites

PHOTO: URA releases Venture Avenue, Cecil Street commercial sites

SINGAPORE - The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the two commercial sites at Venture Avenue and Cecil Street / Telok Ayer Street today.

The land parcel at Venture Avenue is launched for sale by public tender under the Confirmed List, while the land parcel at Cecil Street / Telok Ayer Street is made available for application for sale under the Reserve List of the 2nd half 2012 Government Land Sales (GLS) Programme.

Land Parcel at Venture Avenue

The land parcel is located within the new growth area of Jurong Lake District in the western part of Singapore. Comprising two precincts set amid greenery - Jurong Gateway and Lakeside, Jurong Lake District will be the biggest commercial hub outside the city centre, with a lakeside setting, and a mix of office, retail, hotel, entertainment, food & beverage (F&B) and other complementary uses.

Existing developments in the precinct include JTC Summit and the recently revamped entertainment centre at JCube, as well as two upcoming retail-cum-office developments - Jem and Westgate. Located near Jurong East MRT Station and bus interchange, the 1.1 ha site with a potential gross floor area (GFA) of 65,000 sq m is to be developed predominantly for office use, reinforcing Jurong Gateway as a business hub.

Land Parcel at Cecil Street / Telok Ayer Street

The land parcel, which will be directly connected to Tanjong Pagar MRT Station, is located at the southern gateway of the Central Business District (CBD) - Singapore's premier financial and business district and home to many leading international businesses and financial institutions.

Fronting Cecil Street and Telok Ayer Street and with part of the site to be set aside for open space, the proposed development of up to 50 storeys will enjoy frontage and visibility. The open space will be an amenity for people working and living in the area, and form part of the green network extending through Tanjong Pagar Park and Duxton Plain Park to Pearl's Hill Park.

With a site area of 0.8 ha and potential GFA of 77,000 sq m, the land parcel is envisaged to be an office development that can meet the needs of business services and financial institutions, and contribute towards strengthening the area as a business and financial hub.