URA to launch the tender for site at Farrer Road

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential site at Farrer Road for sale by public tender.

The land parcel was made available for sale through the Reserve List system on 30 Apr 2012. URA received an application from a developer for the site to be put up for public tender.

The developer committed to bid at a price of not less thanĀ $28,888,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.

In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about five weeks.

The land parcel is located near Botanic Garden MRT Station and is well connected to major arterial roads and expressways such as Bukit Timah Road, Dunearn Road, Farrer Road and Pan-Island Expressway (PIE).

With a land area of about 0.27 ha, the residential site is expected to generate a gross floor area of about 3,839 m2.

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