URA sets tender for Clemenceau Avenue/Havelock Road hotel site

Developer committed more than $40.8mln bid price for the 0.55 ha land parcel.

The Urban Redevelopment Authority (URA) announced on Monday that it has accepted an application from a developer to put up the hotel site at Clemenceau Avenue / Havelock Road for sale via public tender, according to a URA report.

The land parcel was made available for sale through the Reserve List system on 26 March 2008. URA has received an application from a developer for the site to be put up for public tender. The developer has committed to bid at a price of not less than $40.8 million in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the Reserve List site will be released for sale via 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.

Land parcel at Clemenceau Avenue / Havelock Road
The land parcel is prominently located at the junction of Clemenceau Avenue and Havelock Road. It is within walking distance to Singapore River and Clarke Quay and is also a short distance away from the heart of the city’s business and financial centre in Raffles Place and Marina Bay.

In close proximity to the popular entertainment, food & beverage and lifestyle outlets at Clarke Quay, Boat Quay and Robertson Walk, hotel guests will have a wide selection of recreation choices such as chic cafes, high-end restaurants and trendy pubs.

With a site area of about 0.55 ha, the site can generate a maximum permissible gross floor area of 11,555 sqm for hotel use.

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