The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the office site at Mountbatten Road for public tender.
The land parcel was made available for sale through the Reserve List system on 31 October 2008. URA has received an application from a developer for the site to be put up for public tender. The developer has committed to bid at a price of not less than $8,210,250 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 via 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 four weeks.
The land parcel has a site area of about 1.17 ha and a maximum permissible gross floor area of 11,739 sqm. The land parcel is earmarked for office development and will have a lease period of 15 years.