A hotel site at Havelock Road will be launched for public tender in two weeks’ time, revealed the Urban Redevelopment Authority (URA).
The land parcel was earlier released under the reserve list of the 1H2013 Government Land Sales (GLS) Programme and was triggered for sale after a developer committed a minimum bid of S$18 million.
Offered on a 60-year lease, the site has an area of 1,536.2 sq m and a maximum permissible gross floor area (GFA) of 2,145 sq m.
Currently, it houses three conserved warehouse buildings which will be restored. Given the prominent location fronting the Singapore River, the buildings are expected to be converted into a boutique hotel.
According to URA, the launch date will be announced later while the site’s tender period will last about eight weeks.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com