The Urban Redevelopment Authority (URA) has launched the hotel site at Jalan Bukit Merah / Alexandra Road for sale via public tender today.
The land parcel was made available for sale through the Reserve List system on 16 August 2007. On 22 September 2011, URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price of not less than $98,000,000 for the land parcel in the public tender.
The land parcel is located at the junction of Alexandra Road and Jalan Bukit Merah at the fringe of the city centre. It is conveniently linked to the rest of the island via Ayer Rajah Expressway and is served by the nearby Queenstown and Redhill MRT Stations. The site is also located near major tourist attractions like Orchard Road, Mount Faber, Vivo City and Sentosa.
The land parcel, which has a site area of about 0.79 ha and a maximum permissible gross floor area of 22,249 sqm, is zoned for hotel development.
The tender for the site will close at 12 noon on 1 December 2011. Selection of the successful tenderer will be based on the tendered land price only. Any tender below the minimum bid price of $98,000,000 will not be considered.