The tender for the hotel site at Rangoon Road/Farrer Park Station Road, near Little India district, has attracted 10 bids, according to the Urban Redevelopment Authority (URA).
The top bid of S$151 million was jointly placed by RB Capital Robertson City and RB Capital Farrer.
That works out to about S$11,612 per square metre of Gross Floor Area.
URA said the remaining bids for the 99-year leasehold site ranged between some S$66 million and S$141 million.
With a land area of about 0.3 hectare, the hotel site is expected to generate a gross floor area of about 13,004 square metres.
URA said a decision on the award of the tender will be made after the bids have been evaluated.
Source : Channel NewsAsia – 17 Apr 2012