The URA has put a hotel site located at the junction of Clemenceau Avenue and Havelock Road up for sale through a public tender.
The sale of the 99-year leasehold site, which is next to Central Mall, was triggered when a developer committed to bid at least $40.8 million or about $328 psf ppr.
The site is situated near the popular food & beverage, entertainment and lifestyle outlets at Boat Quay, Robertson Walk and Clarke Quay. It is also close to the Singapore River and a short distance away from Raffles Place and Marina Bay.
The 0.55-hectare land site was made available for sale through the government’s Reserve List system in March 2008. It has a maximum gross floor area of 124,377 sq ft, and can yield up to 195 hotel rooms with a maximum height of seven floors.
The tender for the site will close on 31 August 2010.