An office site at Mohamed Sultan Road has been put up for sale by public tender. The Urban Redevelopment Authority said it has accepted an application from a developer to put up the site for sale.
Since October 2008, the land parcel was made available for sale through the Reserve List System.
Under the system, a site would be released for sale only if a bid with an acceptable minimum price is received.
URA said a developer has committed to put in a bid of not less than S$9.33 million for the site.
As such, the sale process has been triggered.
URA will launch the public tender for the site in about two weeks.
The site has an area of 0.62 hectares and can generate a maximum permissible gross floor area of 9,265 square metres.
The land parcel is offered for sale on a 15-year lease.
Source : Channel NewsAsia – 28 Jan 2010