URA to launch tender for hotel site at Robertson Quay

A hotel site at Robertson Quay will be released for sale by public tender.

The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List System in April 2010.

The sale process was triggered when URA received an application from a developer to put up the land parcel for tender.

The unnamed developer has committed to bid at a price of not less than S$51.5 million dollars for the land parcel.

With a land area of about 0.45 hectares, the hotel site can generate a maximum permissible gross floor area of 12,651 sqm, said URA.

The 99-year leasehold site at Robertson Quay is located on the bank of the Singapore River, near to other hotels, such as Studio M Hotel, Park Hotel Clarke Quay and The Gallery Hotel.

URA will launch the public tender for the site in about two weeks, while the tender period for the land parcel will be about eight weeks.

Source : Channel NewsAsia – 23 Dec 2010

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