Results 1 to 2 of 2

Thread: Prime site at City Hall for sale

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Prime site at City Hall for sale

    http://www.businesstimes.com.sg/sub/...82229,00.html?

    April 21, 2010, 10.16 am (Singapore time)

    Prime site at City Hall for sale

    By BERNICE BONG


    SINGAPORE - The Urban Redevelopment Authority (URA) has launched the sale of a 1.43 ha prime commerical site at the junction of Stamford Road and North Bridge Road by a public tender.

    An unnamed developer triggered the sale after he bid $100 million - or $184 per square foot per plot ratio - for the 99-year leasehold site. It had been on the government's reserve list since December 2008.

    The retail-cum-hotel development has a maximum permissible gross floor area of about 542,400 sq ft. A minimum 25 per cent is to be for hotel use.

    The URA said the land parcel will be sold through a 'concept and price revenue' tender process.

    Under this system, tenderers are required to submit their concept proposals and tender prices in two separate envelopes. The concept proposals will be first evaluated against a set of specified criteria. Only those tenders that meet the criteria will be considered for award.

    At the second stage, the price envelopes of the proposals with acceptable concepts will be opened for consideration. The site will then be awarded to the tender with the highest bid price among those with acceptable concept proposals.

    The developer of the site is required to retain and restore the three historically and architecturally significant buildings on the land parcel - Capital Theatre, Capital Building and Stamford House - for re-use.

    The tender will close on Aug 18,2010.

  2. #2
    Join Date
    Feb 2009
    Posts
    218

    Default

    So sad that it's being sold, but thankfully the buildings are being conserved.

Similar Threads

  1. Eden Hall site relaunched for sale
    By reporter2 in forum Landed Property
    Replies: 2
    -: 28-06-16, 00:26
  2. 1-bedder to rent in city hall area
    By Diorna in forum Singapore Private Condominium Property Discussion and News
    Replies: 102
    -: 28-10-13, 15:39
  3. Group wins City Hall site
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 3
    -: 29-10-10, 23:35
  4. Landmark site at City Hall draws 14 bids
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 1
    -: 20-08-10, 02:20
  5. Landmark site at City Hall up for sale
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 04-04-10, 02:56

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •