URA puts up Stamford Road/North Bridge Road site for sale

Singapore’s Urban Redevelopment Authority (URA) has put a 1.46-hectare site at Stamford Road/North Bridge Road for sale.

It is available on the Reserve list of the Government Land Sales Programme for the second half of 2008.

The land parcel occupies a prime location in the heart of the city, and is strategically situated along the commercial and mixed-use corridor at North Bridge Road.

Retail, cultural and entertainment venues can also be found near the site.

The plot yields a maximum permissible gross floor area of 51,359 square metres.

URA said the developer will be required to develop a minimum of 40 per cent of the total gross floor area for hotel use. The remaining gross floor area can be use for other commercial purposes.

Under the Concept and Price Revenue Tender System, bidders are required to submit their concept proposals and tender prices in two separate envelopes.

Meanwhile, plans for the sale of site at Kallang River will be deferred.

URA said it is working with other agencies to finalise the detailed planning and development conditions of the Kallang River plot.

The site will only be released on the Reserve List in June 2009 instead of this month.

Source : Channel NewsAsia – 18 Dec 2008

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