A hotel site at Robinson Road and Boon Tat Street has been put up for sale under the Reserve List.
The Urban Redevelopment Authority (URA) says the land parcel has a site area of 1,863 square metres and can generate a maximum gross floor area of 7,450 square metres.
The site, located in the heart of the Central Business District, is within walking distance to Raffles Place and Marina Bay.
It also includes a historically and architecturally significant Conservation Building, designed in the Neo-classical style.
To provide greater flexibility to prospective tenderers, URA says it will allow them to bid for the site on either a 30 or 60-year lease term.
The shorter lease term can help lower upfront investment costs, if needed.
Under the Reserve List system, a site would be released for sale only if a bid with an acceptable minimum price is received.
Source : Channel NewsAsia – 22 Jun 2010
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