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With a minimum bid price of S$1.138 billion, the Urban Redevelopment Authority (URA) has today, launched the commercial site at Beach Road for sale via public tender. The site was triggered for sale earlier on 21 June when an unnamed developer committed to a bid price of no less than S$1.138 billion.
Available on a 99-year leasehold tenure, the site has a maximum permissible gross floor area (GFA) of 88,313 sq m. (950,593.22 sq ft.). Apart from any GFA for hotels, serviced apartments or residential use, the rest of the GFA in the development is to be contained in not more than three strata lots with a maximum building height of 182m above mean sea level.
The developer is also required to conserve and restore the former Beach Road Police Station.
Any bids below the minimum bid price of S$1.138 billion will not be considered.
The tender exercise will close on 28 September 2017 at 12pm.
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