The Urban Redevelopment Authority (URA) on Tuesday launched a transitional office site at Mohamed Sultan Road for sale by public tender.
The 15-year-leasehold site has an area of about 0.62 hectares and a maximum permissible gross floor area of about 9,200 square metres.
The minimum price for the site is S$9.33 million.
Since October 2008, the land parcel was made available for sale through the Reserve List System. Under the system, a site would be released for sale only if a bid with an acceptable minimum price is received.
Two weeks ago, URA said it accepted an application from a developer to put up the site for sale.
In October 2008, URA had rejected a sole bid for the Mohamed Sultan site as the price offered was deemed to be too low. Back then, RSP Architects Planners & Engineers had put in a bid of S$4.65 million.
The site was subsequently placed on the reserve list. The current tender for the site will close on March 18.
Source : Channel NewsAsia – 9 Feb 2010
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