Far East Organization to build hotel on Sentosa

Far East Organization has won the tender for a hotel site at Sentosa.

The 60-year leasehold site at Artillery Avenue is situated on elevated ground and overlooks Palawan Beach.

According to Sentosa Development Corporation, Far East will pay an upfront land premium of S$32 million.

In addition, it will pay S$3.7 million annually, or 10 per cent of the total annual gross revenue, whichever is higher.

The site has an area of about 45,000 square metres and was once a military parade square.

It includes six blocks of barracks and a coach park.

The development — to be named The Outpost — will be the fourth hotel on Sentosa that has been repurposed from its cluster of conserved buildings.

Upon completion in 2018, it will bring the total number of room keys on Sentosa to 3,800.

Source : Channel NewsAsia – 12 Mar 2014

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