URA to launch the tender for the Reserve List site at Havelock Road
The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the hotel site at Havelock Road for sale by public tender.
The land parcel was made available for sale through the Reserve List system on 27 June 2013. 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 $18,000,000 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 at Havelock Road consists of three conserved warehouse buildings which shall be restored for hotel use. Together with its prominent location fronting the Singapore River, the conserved buildings are envisaged to be transformed into a distinctive boutique hotel.