A redevelopment site along Changi Road spanning 26,500 square feet is up for sale by tender.
The site can be redeveloped into a hotel or commercial development with a plot ratio of 3, giving a maximum gross floor area of about 80,000 square feet. Civil engineering and property development firm Koh Brothers, which is selling the site, is asking for S$55 million.
This excludes a development charge of S$12.5 million which the successful developer will have to fork out.
The price works out to about S$850 per square foot per plot ratio.
The tender exercise will close at the end of this month. - CNA/ms
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