Friday, December 07, 2012

White site at Thomson Road receives 9 bids

A 6,676.8 sq m white site located at Thomson Road/Irrawaddy Road (pictured) attracted a total of nine bids with the highest offer at S$492.5 million when the public tender closed yesterday, according to the Urban Redevelopment Authority (URA).

Offered on a 99-year lease, at least 30 percent of the maximum permissible gross floor area (GFA) of 28,043 sq m must be allotted for hotel use while the remainder may be developed into residential, retail, office and other complementary commercial uses.   

A consortium led by Hoi Hup Realty offered the top bid which works out to S$17,562.32 psm on the GFA.

URA will award the tender after all bids have been evaluated.

View the original article here

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