Friday, October 12, 2012

Victoria St hotel site gets S$331m top bid

SINGAPORE - The tender for a hotel site near the junction of Victoria Street and Jalan Sultan attracted nine bids by the close yesterday, with the top bid of S$331.3 million coming from Forward Land, the Urban Redevelopment Authority said.

The 99-year leasehold site has an area of about 90,667 sq ft and a maximum permissible gross floor area of 333,436 sq ft. The top bid translates to S$994 per sq ft per plot ratio, and is 9.1 per cent higher than the next best bid.

Mr Lee Sze Teck, Senior Manager of Training, Research and Consultancy at DWG, said: "Having lost out in the previous two hotel tenders at Jalan Bukit Merah and Rangoon Road in the past one year, this is third time lucky for Forward Land."

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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