The Urban Redevelopment Authority (URA) has released detailed sales conditions for a reserve site at Short Street for hotel development.
The site, located within the Bras Basah and Bugis district, is one of two new hotel sites scheduled for release for application under the reserve list of the Government Land Sales programme for the second half this year.
Developers interested in purchasing the site can now apply to the URA for it to be put up for tender.
Under the reserve list system, a site on the list would only be put up for tender if a developer’s indicated minimum bid price in his application is acceptable to the government.
The land area of the site is about 0.12 hectare and can generate a maximum permissible gross floor area of 4,077 square metres.
This makes it ideal for boutique hotel development, URA said.
It has a maximum building height of 12 storeys and will be for lease for 99 years.
Source : Channel NewsAsia – 26 Aug 2008