A hotel site at East Coast Road (pictured) was launched for tender on Friday, according to the Urban Redevelopment Authority (URA).
The 0.8ha site at the junction of East Coast Road and Joo Chiat Road has a gross floor area of 266,040 sq ft. It was made available for sale through the reserve list in June 2012 and attracted a minimum bid of S$160 million or S$601.41 per sq ft from a developer last November.
Currently, the former Joo Chiat Police Station sits on the 99-year leasehold site. The building will be restored as part of the future hotel development.
URA said it will not consider any bids lower than the minimum bid price.
The tender exercise will close on 21 January 2014.