Singapore Back to Real Estate News Homepage to RSS for this country

SG Property News

SG Havelock Rd site attracts 9 bids

Property Here - Wednesday, November 13, 2013

Share to:

A prime hotel site at Havelock Road received nine valid bids when its tender closed on Tuesday, according to the Urban Redevelopment Authority (URA). 

Launched for sale on 18 September, the 1,536.2 sq m site has a maximum gross floor area of 2,145 sq m and comes with a 60-year lease. 

I Hotel Pte. Ltd. submitted the highest bid of S$30.09 million or S$1,303 psf ppr, followed by Ooi Teck Hin with S$28.09 million and I-Property Investment Pte Ltd with S$26.278 million.

Republic Hotels & Resorts Limited submitted the lowest bid of S$18.3 million.

A decision on the award of the tender will be made after the bids have been evaluated.