URA to launch tender for site at Clemenceau Ave in two weeks

A hotel site in Clemenceau Avenue and Havelock Road will be put up for sale in two weeks.

The Urban Redevelopment Authority (URA) said the 99-year leasehold site can generate a maximum gross floor area of 11,555 square metres.

The Reserve List site spans 0.55 hectares and a developer will be able to build a hotel development of not more than seven storeys on the plot.

URA said a developer has committed to bid at least S$40.8 million for the land parcel.

The launch date will be announced later.

URA added that the tender period for the land parcel will be about eight weeks.

Source : Channel NewsAsia – 14 Jun 2010

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