The Urban Redevelopment Authority (URA) has awarded the hotel site at Havelock Road to I Hotel Pte Ltd, in a bid which attracted 9 valid interests.
Launched for sale on 18 September and offered on a 60-year lease, the developer - I Hotel Pte Ltd had submitted the highest bid of S$30.09 million or S$1,303 psf ppr for the site.
The land parcel located along the Singapore River has an area of 1,536.2 sq m and a maximum gross floor area of 2,145 sq m. It comprises three conserved warehouses which are expected to be restored and converted into a boutique hotel.
Launched for sale on 18 September and offered on a 60-year lease, the developer - I Hotel Pte Ltd had submitted the highest bid of S$30.09 million or S$1,303 psf ppr for the site.
The land parcel located along the Singapore River has an area of 1,536.2 sq m and a maximum gross floor area of 2,145 sq m. It comprises three conserved warehouses which are expected to be restored and converted into a boutique hotel.
| OCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE |
| ($PSM of GFA) | |||||
| Havelock Road | Hotel | 1,536.2 m2 | 2,145 m2 | I Hotel Pte Ltd | $30,090,000 |
| ($14,027.97) |
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