Fragrance Group wins tender for Short Street hotel site

Fragrance Assets, a unit of mainboard-listed Fragrance Group, has won the tender for a hotel site at Short Street.

It had submitted the top bid of S$15.5 million for the site.

The Urban Redevelopment Authority (URA) received a total of 15 bids, ranging from S$8 million to S$15.5 million.

Other companies that had tendered for the site include Regal Land, Centurion Properties and Sim Lian Land.

The 99-year land parcel, bordering Albert Court near Little India, covers about 12,500 square feet and borders, and can accommodate a 12-storey hotel.

This was the first site launched for tender from the government’s reserve list since it suspended sales from the confirmed list last October.

Source : Channel NewsAsia – 16 Jun 2009

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