URA Launches Tender For Hotel Site At Short Street

Source : The Business Times, April 15, 2009

The Urban Redevelopment Authority (URA) has launched the tender for a hotel plot at Short Street. The tender will close on June 10.

URA released the reserve list site following a successful application by an unnamed party that has committed to place a minimum bid at the tender of $8.8 million (US$5.9 million) or about $200 per sq ft of potential gross floor area (GFA)

The 12,535.6 sq ft site, being offered on 99-year leasehold tenure, can be developed into a maximum GFA of 43,884.4 sq ft and can be built up to 12 storeys.

URA has said that the site can accommodate between 90 and 100 hotel rooms.