Check out this commercial site in CBD up for sale

It has a site area of 0.8ha.

In a release, the Urban Redevelopment Authority (URA) announced that it has accepted an application from a developer to put up the commercial site at Cecil Street / Telok Ayer Street for sale by public tender.

The land parcel was made available for sale through the Reserve List system on 19 December 2012. URA received an application from a developer for the site to be put up for public tender.

The developer committed to bid at a price of not less than $623,730,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.

In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in about two weeks.

The launch date will be announced later. The tender period for the land parcel will be about eight weeks.

Details of the land parcel
The land parcel, which will be directly connected to Tanjong Pagar MRT Station, is strategically located at the southern gateway of the Central Business District (CBD) – Singapore’s premier financial and business district and home to many leading international businesses and financial institutions.

Fronting Cecil Street and Telok Ayer Street and with part of the site to be set aside for open space, the proposed development of up to 50 storeys will enjoy excellent frontage and visibility.

The open space will be an attractive amenity for people working and living in the area, and form part of the green network extending through Tanjong Pagar Park and Duxton Plain Park to Pearl’s Hill Park.

With a site area of about 0.8 ha and potential gross floor area (GFA) of 77,000 m2, the land parcel is envisaged to be a high-quality office development that can meet the needs of business services and financial institutions, and contribute towards strengthening the area as an attractive business and financial hub.

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