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SG Tender for Havelock Road site awarded

Property Here - Tuesday, November 19, 2013

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The tender for a hotel site at Havelock Road which attracted nine valid bids was awarded to I Hotel Pte. Ltd., revealed the Urban Redevelopment Authority (URA).

The developer submitted the highest bid of S$30.09 million or S$1,303 psf ppr for the site.

Launched for sale on 18 September and offered on a 60-year lease, the land parcel has an area of 1,536.2 sq m and a maximum gross floor area of 2,145 sq m.

Located along the Singapore River, it comprises three conserved warehouses which are expected to be restored and converted into a boutique hotel.