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SG URA to launch tender for East Coast Road hotel site

Property Here - Wednesday, November 06, 2013

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A hotel site (pictured) at East Coast Road will be launched for sale by public tender, the Urban Redevelopment Authority (URA) announced today.

The 99-year leasehold site located near the junction of East Coast Road and Joo Chiat Road, has an area of 0.8ha and a gross floor area of 266,040 sq ft. 

According to URA, the land parcel, which was made available for sale through the Reserve List system in June last year, received from a developer a bid of at least S$160 million or S$601.41 per sq ft. 

The launch of the site’s public tender will be in about two weeks, the statutory board said. The launch date to be announced later and the tender exercise will run for about eight weeks.

The site houses the historically and architecturally significant former Joo Chiat Police station which will be restored as a part of the future hotel development.