URA launches hotel site for sale

The URA has launched a hotel site at Gopeng Street / Peck Seah Street for sale through a public tender, after a developer committed to bid not less than S$94.05 million.

It was made available for sale on February 21 through the government’s Reserve List system.

The site is located at the junction of Gopeng and Peck Seah Street, within the Tanjong Pagar area, and is in close proximity to the main business and financial areas of Raffles Place, Shenton Way and Marina Bay. The area houses several hotels which have been established to serve tourist visitors and the business community, including The Scarlet, Amara, Berjaya Hotel and M Hotel.

The 99-year leasehold land site has a total area of 2,311.4 sq m and a maximum permissible gross floor area (GFA) of 19,416 sq m. It is proposed for hotel development with a maximum building height of 30 storeys.

The URA said the successful sale and on-going development of several new office, high-rise residential and hotel sites in the area will further enhance the vibrancy and activities of the Tanjong Pagar commercial district.

The tender for the site will close on January 11.