KUALA LUMPUR: Singapore's Urban Redevelopment Authority (URA) has launched a public tender for a commercial site near the former Beach Road police station at a bid price not less than S$1.138bil (RM3.53bil).
According to the URA website, the two hecrate site was available for sale on the reserve list of the first half 2017 Government Land Sales (GLS) Programme.
“The site is intended for a predominantly office development with complementary uses such as residential, hotel and/or serviced apartment,” URA said.
On June 21, 2017, URA announced that it had 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 S$1.138bil in the tender for the site,” it said.
According to the statement, the allowable development comprises commercial with conservation and restoration of the former Beach Road Police Station.
The maximum permissible gross floor area is 88,313 sq metres – office: minimum 61,820 sq m and retail: maximum 3,000 sq metres. The lease period is 99 years.
The URA website showed the 2ha land parcel, occupies a strategic location at the intersection of two key development corridors along Beach Road and Ophir-Rochor Road.
These two areas include a number of well-established commercial buildings, such as Shaw Tower and Bugis Junction, as well as South Beach and the upcoming DUO development.
The land parcel is also located juxtaposed to the Beach Road Conservation Area and nearby Bras Basah, Bugis precinct, which are attractive and vibrant mixed-use districts, and the Marina Centre area, which includes a number of major developments, such as Suntec City, and is a well-established mixed-use precinct with a critical mass of office, hotel, conference and exhibition, retail, Food & Beverage, lifestyle and arts uses.
Cick here for more: https://www.ura.gov.sg/uol/media-room/news/2017/Jul/pr17-46
Limited time offer:
Just RM5 per month.
