Bookmark & Share
The Urban Redevelopment Authority (URA) on Wednesday (16 December) released details on the sales conditions for the white site at Central Boulevard, and made it available for application under the Reserve List of the second half 2015 Government Land Sales (GLS) Programme.
The 99-year leasehold parcel comes with main frontages along both Central Boulevard—one of the two main roads within the area connecting to the Central Business District (CBD) and Raffles Quay—is expected to gain keen interest from developers. The Central Boulevard site measures approximately 1.1ha and has a gross plot ratio of 13.0.
The future development may be built up to a height of about 50 storeys. The site will yield a potential gross floor area of about 141,309 sq ft, of which at least 100,000 sq ft will be set aside for office use, said URA. It added that the remaining area will be used for complementary uses such as hotels, serviced apartments and or residential uses. The future development will be directly and seamlessly connected to the adjacent Downtown MRT station and linked to Raffles Place Interchange MRT station and the upcoming Shenton Way MRT station.
The development will also be linked to the surrounding establishments, including One Raffles Quay, Asia Square Towers, Marina Bay Financial Centre.
It is noted the a site in the Reserve List will only be put up for tender if a developer’s indicated minimum bid price is deemed acceptable by the government. Developers interested in purchasing the site can now apply to URA for it to be launched for tender.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Articles:
OKP awarded $94.6m LTA project