The Urban Redevelopment Authority (URA) has released the detailed sales conditions for a hotel site located at Race Course Road and Perumal Road on Tuesday.
With a land area of 0.38 hectare, the hotel site can generate a maximum permissible gross floor area of about 13,500 square metres with a lease period of 99 years.
The hotel site is next to Sri Srinivasa Perumal Temple and is located near the historic district of Little India.
Located within walking distance to Farrer Park MRT station, the future hotel development will also enjoy easy access to the Central Business District (CBD) at Raffles Place and Marina Bay.
Under the Reserve List system, a site would be released for sale only if a bid with an acceptable minimum price is received.
When the site is put up for tender, a tender period of about 4 weeks will be allowed before tender closes.
Source : Channel NewsAsia – 31 May 2011