Singapore’s URA launches tender for the commercial site at Beach Road for S$1.138 bln
The Urban Redevelopment Authority (URA) has launched the commercial site at Beach Road for sale by public tender today. It was available for sale on the Reserve List of the 1st 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.
On 21 June 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$1,138,000,000 in the tender for the site.
The tender for the land parcel will close at 12 noon on 28 September 2017. Any tender below the minimum bid price of $1,138,000,000 will not be considered.
This 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.