URA launches New Bridge Road hotel site for public tender

The Urban Redevelopment Authority (URA) has launched a hotel site at New Bridge Road for sale.

Last month, the urban planners received an application from a developer to put the plot on sale.

URA says the developer has committed to bid at least S$43,888,888 for the 99-year lease hold site located in Chinatown, near the Outram Park MRT station.

The 0.45 hectare site can yield a maximum permissible gross floor area of 15,687 square metres and is suitable for a boutique hotel development.

The public tender will close at 12pm on September 3.

URA says selection will be based on the tendered land price and bids below S$43,888,888 will not be accepted.

Source : Channel NewsAsia – 9 Jul 2009

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