A hotel site at Robinson Road / Boon Tat Street will be put up for public tender.
The land parcel had been made available for sale through the reserve list system in June.
The sale has been triggered by a developer’s application, which had met the minimum price acceptable to the government.
The developer has committed to bid at a price of not less than S$30.8 million, on a 60-year lease term.
Tenderers can choose to bid for the site on either a 30- or 60-year lease term.
URA will launch the public tender for the site in about two weeks, with the exact date to be announced later.
The hotel site is located in the heart of the Central Business District, and includes a conservation building.
It also fronts a prominent road junction at Robinson Road / Boon Tat Street.
The area is within walking distance to Raffles Place and Marina Bay.
Source : Channel NewsAsia – 19 Oct 2010