The Urban Redevelopment Authority (URA) released two commercial sites under the Reserve List of the Government Land Sales Programme yesterday.
The first – a 2.07 hectare 99-year leasehold site at the junction of Sims Avenue and Tanjong Katong Road – can yield about 87,000 sq m of gross floor area and is slated to be a mixed-use development comprising office, hotel and retail uses.
The URA said at least 40 per cent of the site will be used for office space, while 15 per cent will be used for hotel space.
The remaining area can be for additional office, hotel, retail, entertainment or food and beverage uses, to build up a critical mass of activities that will anchor Paya Lebar Central as a prominent commercial hub.
The second is a hotel site located on Race Course Road and Perumal Road.
With a land area of 0.38 hectare, the 99-year plot can generate a maximum permissible gross floor area of about 13,500 sq m. It is next to Sri Srinivasa Perumal Temple and is within walking distance of Farrer Park MRT Station.
The URA will put the sites up for tender if it receives acceptable minimum bids from developers.
Source : Today – 1 Jun 2011