Hotel site at East Coast Road put up for tender

The Urban Redevelopment Authority (URA) will be launching a hotel site at East Coast Road for sale by public tender.

The authority said it had accepted an application from a developer for the site to be put up for public tender.

The developer had committed to bid at a price of not less than S$160 million in the tender for the land parcel which is located at the junction of East Coast Road and Joo Chiat Road.

As the minimum price committed by the developer is acceptable to the government, URA said the site will be released for sale by public tender.

With a gross floor area of about 24,716 square metres, the plot also contains the former Joo Chiat Police Station which shall be restored as part of the future hotel development.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about eight weeks.

Source : Channel NewsAsia – 6 Nov 2013

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