SINGAPORE: The Urban Redevelopment Authority (URA) announced on Oct 19 that it has accepted an application from a  developer to put up a hotel site at Robinson Road/Boon Tat Street for sale via public tender.

The land parcel was made available for sale through the Reserve List system on June 22. The developer has committed to bid at a price of not less than S$30.8 million (RM73.44 million) in the tender for the land parcel on a 60-year lease term. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale via public tender, the URA said.

The hotel site is located in the heart of Singapore’s Central Business District, fronting a prominent road junction at Robinson Road/Boon Tat Street. It is within walking distance to Raffles Place and Marina Bay.

According to the URA, the land parcel includes a historically and architecturally significant conservation building, designed in the Neo-classical style (pictured below).

"Built in 1927, it is an important heritage landmark, representative of Singapore's business district in the first half of the 20th Century. The prominent location of the land parcel and distinctive architecture of the conservation building offer an excellent opportunity to create a unique high-quality hotel development in the heart of the city’s business and financial district," it added.

In accordance with the procedures of the Reserve List system, the URA is making public the minimum price committed for the site. URA will launch the public tender for the site in about two weeks.The launch date is to be announced later, while the tender period for the land parcel will be about eight weeks.