New Hotel / Commercial / Mixed Use Sites for development

[babystan03]

June 17, 2006
New hotel sites expected to spur foreign and local interest
They will cater to STB's forecast rise in tourists to 17 million by 2015

By Property Correspondent, Joyce Teo

FOREIGN and local developers are expected to show keen interest in the new hotel sites put up for development by the Government on Thursday.

The big guns will surely fight over the large site housing the former Non-Commissioned Officers' Club and Beach Road Camp buildings while the smaller blocks will meet the under-served middle segment, market players said.

The new sites will cater for an expected increase in visitor numbers, National Development Minister Mah Bow Tan said yesterday.

'If you go by STB (Singapore Tourism Board) projections of 17 million visitors by 2015, what we have today...that's just to cater for the eight million you have. If you double that, you are talking about another 30,000 to 35,000 rooms,' he said.

There are about 37,000 hotel rooms in Singapore now.

Assuming all the sites are sold, and factoring in hotels already planned at Marina Bay and Sentosa, the room supply will rise by at least 20 per cent over the next few years.

Industry watchers said this slew of new hotel sites comes as occupancy and hotel rates are rising. And while the supply now is sufficient, the sites will cater to future demand.

Over the past year, foreign hotel groups such as Hong Kong's Park Hotel Group, India's Taj Hotels, Resorts and Palaces and Europe's Accor have expressed interest in investing in Singapore.

Industry players said the former NCO Club site could attract overseas hoteliers looking to establish prominent frontage in one of Singapore's prime districts.

A local hotelier said: 'The site will attract major names yet to have a foothold in Singapore, because in order for a major brand to have a foothold here, they need a prestigious location.'

The Government also made available seven other smaller sites for hotels.

They are in less coveted areas such as Balestier Road and Tanjong Pagar Road, but may still draw in smaller local and possibly foreign players.

The hotelier said: 'The five-star market is relatively crowded...so there would be interest from players keen to build up the mid-tier market.'

Another hotelier, Mr Loh Lik Peng, who owns the boutique Hotel 1929 and the New Majestic Hotel, wants one of the sites. 'These are new-builds. I wouldn't mind trying,' he said. 'When you do something unique, you can top the market.'

Ms Tay Huey Ying of Colliers International said the owner of Amara Hotel would be keen on the Tanjong Pagar sites to ward off competition.

City Developments said it would continue to evaluate the new hotel sites.

The new sites will allow for a greater variety of hotels, Mr Mah said yesterday, from those staying in a six-star at the integrated resorts to people wanting something more modest. 'You've got to cater to the different types of tourists,' he said, adding that the Government is mindful of not flooding the market.

Apart from the NCO Club conservation site, the other sites are on the reserve list so they go up for tender only if a developer commits to a minimum acceptable bid.

'Let the market decide...that way we are not saddled with a situation where we overshoot or underprovide,' Mr Mah said, noting that the recent Robertson Quay site was triggered fairly quickly, indicating strong demand.

joyceteo@sph.com.sg

ADDITIONAL REPORTING BY TAN HUI YEE

Copyright © 2006 Singapore Press Holdings. All rights reserved.

[babystan03]

Business Times - 17 Jun 2006

Mah: S'pore needs to increase land capacity

More commercial space needed to keep up with economic growth

By UMA SHANKARI

SINGAPORE must continue to boost its land capacity as economic gains accelerate, National Development Minister Mah Bow Tan said yesterday.

'In order to support the economy that is growing really fast, we need to make sure that there is sufficient office and commercial space,' he told reporters yesterday.

'And of course, the residential market is also very strong and we need to provide capacity for that.'

Mr Mah also told reporters that the number of hotels have to increase to cater to more visitor arrivals, which the Singapore Tourism Board (STB) forecasts will hit 17 million by 2015.

He was speaking a day after details of the Ministry of National Development's second-half land sales programmes were released. Eight of the 15 new sites unveiled on Thursday are slated for hotel development or have a minimum stipulated hotel component.

If developed, the new hotel sites will add about 3,000 rooms to Singapore's stock. According to STB, Singapore now has 36,922 rooms.

Addressing suggestions that Singapore could face an oversupply of hotel rooms with the upcoming integrated resort (IR) at Marina Bay, Mr Mah said: 'If you look at what we have today, we have something like 35,000 rooms - that's just to cater to the 8 million visitors we have currently. So if you double that (to cater to estimated 17 million visitors), you are talking about another 35,000 rooms. So the 2,500 rooms that the IR is going to provide is really not going to be enough.' The new hotel sites will also cater to tourists who want lower-end and cheaper accommodation, unlike what the IR will offer, Mr Mah said.

Most of the new hotel sites on the government's second-half land sales list are away from the Orchard Road belt - in areas such as Little India and Robertson Quay - and can be expected to fetch lower room rates.

More hotel sites could be forthcoming, Mr Mah said. But while more rooms are needed, the government will not release too many at one go because that could flood the market. Instead, it will push out further sites at a steady pace.

Mr Mah also spoke about a 'first' on the government's land sales front - a site that can be used for retirement housing - in Jalan Jurong Kechil.

The lease on the site has been fixed at 30 years so the land cost will be lower and will not pose as a stumbling block for developers who might want to develop retirement housing, said Mr Mah.

Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.

[RafflesCity]

Hotel site in Balestier is placed on the Reserve List

"Land Parcel at Balestier Road / Ah Hood Road



This land parcel, which has a site area of about 0.89 ha and a gross plot ratio of 3.0, is zoned for hotel use. The site can generate a maximum permissible gross floor area of about 26,787 sqm. Details of the land parcel and location plan are given in Annexes A-3 and A-4.



The land parcel is located along Balestier Road which has an interesting mix of heritage shophouses and new residential and commercial buildings. With its eclectic character, the site offers an opportunity for investors to develop a hotel that will provide hotel guests with an extraordinary experience of the rich architectural heritage and vibrant street life of Balestier Road. A mid-tier hotel at Balestier Road would cater to tourists who want affordable and quality accommodation located close to Orchard Road and the Central Business District."

Balestier Road today is home to a mix of heritage shophouses that were mainly built in the 1840s and the new residential and commercial buildings. The juxtaposition of these old and new buildings creates an interesting streetscape along Balestier Road, displaying its colourful past and vibrant present. With its eclectic character, the site offers an excellent opportunity to develop a hotel that will provide hotel guests with an extraordinary and unique experience of our rich architectural heritage and vibrant street life of Balestier Road.

[RafflesCity]

[redstone]

The row's been acquried???

[RafflesCity]

No..that is just a picture advertising the historical richness of Balestier area.

The hotel site is the large field and behind the field is the Sun Yet Sen Villa

[babystan03]

Wow....so many new hotel sites.....

[RafflesCity]

CDL-linked firm tops offer for hotel site


22 Nov 06

A COMPANY linked to City Developments (CDL) has topped a tender for a hotel site at Mohamed Sultan/Nanson Road with a bid that is almost 30 per cent higher than the nearest competitor.
Republic Hotels & Resorts offered $45.8 million or about $518 per sq ft (psf) of potential gross floor area for the site that can accommodate a hotel up to 10 storeys high.

The Urban Redevelopment Authority (URA) tender drew six bidders when it closed yesterday.

Reflecting the keen interest, the top bid was 11 per cent higher than the $466 psf per plot ratio received in August for a hotel site next to Robertson Quay Hotel at nearby Clemenceau Avenue. It is also almost twice the $300 psf per plot ratio paid in January last year for another hotel site next to the Carlton Hotel at North Bridge Road, noted the executive director of CB Richard Ellis Research, Mr Li Hiaw Ho.

When developed, CDL is expected to inject the hotel into its hospitality real estate investment trust if its bid is accepted, he said.

Mr Gerry de Silva, spokesman for Hong Leong Group - the controlling shareholder of CDL - said: 'If we are indeed awarded, the Hong Leong Group will have seven hotels in Singapore.'

There are currently four hotels under the CDL Hospitality Trust - Orchard Hotel, M Hotel, Grand Copthorne Waterfront Hotel and Copthorne King's Hotel.

DENNIS CHAN

[babystan03]

Dec 7, 2006
Budget hostel looking to expand

By Lim Wei Chean

A SPECTACULAR year, exclaimed hostel owner Spencer Han. The record number of tourist arrivals in the past year has been great for his hostel, he said.

Occupancy at the 39-bed Hive Backpackers' Hostel in Lavender Street has risen from 50 per cent to 70 per cent, and Mr Han is now looking to expand to Dunlop Street next year.

Although most of his backpacking guests are Europeans, he has seen 10 per cent more Asians - mostly budget-airline travellers - coming in, especially from Malaysia, the Philippines and Thailand.

'I will definitely give myself a bonus this year as a reward for all the work I've put in,' said Mr Han, who pays himself a monthly salary of $1,800.

The Hive was set up two years ago after he and a group of friends completed national service. They wanted a place where they could hang out together, said the 24-year-old. So 10 of them contributed $10,000 each to set up the hostel, leaving Mr Han to run it full-time.

It was no easy job.

In the first year, it was a one-man show: Mr Han was the receptionist, housekeeper, toilet cleaner and odd-job man. He slept at the hostel, too.

But this year, as more travellers streamed in, he could afford to hire a helper.

Next year, he will hire three more assistants when a 30-bed branch opens in the vicinity of Little India. There will be two employees in each hostel, and Mr Han will shuttle between the two to oversee things.

His name card reads 'housekeeper' but, come next year, he wants to promote himself to 'area manager'.

The new branch will require another $100,000 to set up, but Mr Han is confident that recouping the investment will not be a problem.

He said: 'There is enough room here for four more backpacker hotels. The market is big enough, especially with more travellers coming in.'

There are an estimated 20 to 30 backpacker hostels in Singapore.

Copyright © 2006 Singapore Press Holdings. All rights reserved.

[babystan03]

URA gets S$21.5m commitment for commercial plot at New Bridge Road/North Canal Road
By Loh Kim Chin, Channel NewsAsia | Posted: 13 December 2006 2034 hrs

SINGAPORE: A commercial site at New Bridge Road/North Canal Road could be launched for public tender within two weeks.

The Urban Redevelopment Authority (URA) has accepted an application by an unidentified developer to bid at least S$21.5 million for the site.

The land parcel spans an area of nearly 1,300 square metres and has a gross plot ratio of 4.2.

It can generate a maximum permissible gross floor area of about 5,400 square metres.

The 99-year leasehold site has a maximum building height of six storeys. - CNA/so

[RafflesCity]

Telok Blangah hotel site up for en-bloc sale

7 Dec 06


A 21,000 sq ft hotel site across the road from VivoCity is up for collective sale with a $52 million price tag.


Citiport Centre on Telok Blangah Road was put on the market yesterday after Dickson Property Consultants gathered a 81.5 per cent consent rate - after working on the sale since 2005.

The $52 million price tag includes an estimated development charge of $2 million. As the site has a plot ratio of 3.5, the asking price works out to $707 per sq ft per plot ratio.

The maximum building height is 37 metres, which means that any development could be about 12 storeys.

Citiport Centre is now a mixed commercial and residential development with 28 commercial units and 15 apartments with a total gross floor area of 4,165 sq m.

But because of the location, Dickson's director Richard Tang thought that developers might be more interested in building a hotel. The consultancy has, therefore, obtained approval from the authorities for a hotel to be built on the site, he said.

'Any shopping centre built will have to compete with VivoCity,' Mr Tang said. 'In the long term, with the plans for the area, a hotel development makes more sense.'

If the asking price is met, the sellers will receive an en-bloc premium of between 25-50 per cent in the collective sale, Mr Tang said. The sale proceeds will be split 60:40 between the commercial and residential owners.

The site has already seen interest from a Malaysian developer, Mr Tang said. But the developer wants to buy the property through a private treaty, while the sellers are in favour of a tender.

Separately, Colliers International yesterday said that four adjoining two-storey shophouses at Serangoon Road and another residential site at King's Road will be put up for auction on Dec 20 at The Amara Hotel.

The four shophouses are expected to fetch about $10.5 million altogether, while the residential site with a bungalow on it can allow for up to six semi-detached houses.

The site is expected to fetch between $10-$11 million, Colliers said.

By UMA SHANKARI

[redstone]

Citiport's location is very challenging. Facing a very traffic heavy road. Semi expressway viaduct running above the road. The site has a road "running into" it, feng shui wise I don't think is good.

[RafflesCity]

That viaduct is a constraint in integrating Mt Faber with the Harbourfront area...lets see how future developments at the foot of Mt Faber challenge that

[RafflesCity]

20 December 2006

URA Reserve Site at Upper Pickering Street for Hotel Development is Now Open for Application

The Urban Redevelopment Authority (URA) today released the detailed sales conditions for a reserve site at Upper Pickering Street for hotel development. Developers interested in purchasing the site can now apply to URA for it to be put up for tender.

The site at Upper Pickering Street is one of the six new hotel sites that have been released for application on the reserve list in the GLS Programme for the 2nd half of 2006, as announced by the Ministry of National Development on 15 June 2006. Developments on these sites will contribute to meeting the demand for hotel rooms which is expected to increase given STB's target of attracting 17 million visitors by 2015.

Prominent Location in the CBD for a Distinctive Hotel

The land parcel is situated at the prominent junction of New Bridge Road and Upper Pickering Street, which is a key gateway into the Central Business District (CBD). With an excellent frontage along Upper Pickering Street, guests in the hotel will have a clear and commanding view of the city skyline across Hong Lim Park, as well as the park’s lush greenery. They will also enjoy vantage views towards the Singapore River, Raffles City and the Marina Centre areas.

The area is already a popular location for tourists and business travellers looking for a convenient hotel location with good access to various amenities and walking distance to the business and financial hub at Raffles Place and Marina Bay. They can enjoy the wide array of sightseeing and dining options at Chinatown nearby and entertain their clients, at the cafes, restaurants and pubs at Boat Quay and Clarke Quay, which are located nearby along Singapore River.

Land Parcel at Upper Pickering Street

The land parcel, which has a site area of about 0.69 ha and a gross plot ratio of 4.2, is zoned for hotel use. The site can generate a maximum permissible gross floor area of about 29,227sqm.

[Details of the land parcel and location plan are given in Annex A-1 & A-2.]

About the Reserve List System

Under the government’s Reserve List system, a site on the Reserve List would only be put up for tender if the developer’s indicated minimum bid price in his application is acceptable to the government.

Details of the land parcel and other sites that are currently available for application on the Reserve List can be found on URA’s website: http://www.ura.gov.sg/sales/UpperPickeringSt-index.html.

[babystan03]

Oh wow....the location is fantastic...near 3 MRT stations...

[redstone]

Ah, the site of our first highrise flats..

[RafflesCity]

Thats definitely a prime site, with easy access to Chinatown, Raffles Place & the river

with the end of year coming, the announcement of new sites for 1st half of 2007 should be anticipated :-)

[RafflesCity]

The design of the hotel will be subject to extra-detailed conditions:

http://www.ura.gov.sg/sales/UpperPic...TCOT_final.pdf

2.3 Design Requirements

2.3.1 To relate to the adjacent park, the development is envisaged to provide
generous and well-landscaped public and private open spaces at the 1st
storey which can form a visual extension of the greenery and open space
of the Park.

2.3.2 Given its strategic location, within the city fronting a major public open
space, it is important to ensure that the development meets the planning
and urban design objectives for a well-designed and well-integrated
development of appropriate quality that will contribute to the enhancement
of Hong Lim Park and the liveliness of the surrounding precincts such as
the China Square, Boat Quay and Clarke Quay areas.

2.3.3 To ensure that the development meets the planning and urban design
objectives described in Clause 2.3.2, the development proposal will be
subject to review by a Design Advisory Panel (DAP) and approval from the
Authority as part of the formal submission process, as given in Part V.

2.3.4 In preparing for the submission to the DAP, the successful tenderer shall
take into consideration the following urban design intentions:

Contribution to Skyline Profile

a The design of the development shall contribute to the skyline profile of
the city by preserving the dominance of the old Supreme Court dome
when viewed from the Civic District and Nicoll Highway;

Building Form / Massing

b The building form and massing of the development shall maintain
some visual porosity from the adjacent developments to Hong Lim
Park and articulated to ensure that the development does not create a
wall-like effect along Upper Pickering Street;

c The development shall be well-designed, befitting its strategic location
as a gateway into the CBD from the CTE / Merchant Road; and

4
Context to Hong Lim Park

d To relate to the adjacent park, the successful tenderer is encouraged
to provide generous and well-landscaped public and private spaces at
the 1st storey of the development which can form a visual extension of
the greenery of the park. These can be a combination of open and lofty
covered public spaces.

[redstone]

Should be interesting... I can imagine the tower deviated to the side of China Square.

Is there a height limit?

[RafflesCity]

The height limit is maximum of 20 storeys near the Furama side, and 16 storeys near the Great Eastern Building side...click on the link, it shows you a picture of how the height control will fit into the skyline view

Upper Pickering St site likely to see keen investor interest

21 Dec 06

INTEREST from investors and developers is expected to be high as the sixth hotel site goes on the reserve list of the Government Land Sales (GLS) programme.



The site is at Upper Pickering Street, opposite Hong Lim Park. As this is close to Chinatown, the Singapore River and Raffles Place, a hotel there could cater to business travellers as well as tourists.

Savills Singapore marketing and business development director Ku Swee Yong believes that when it is eventually put up for public tender, the site could attract eight to 10 bids with prices even crossing the $700 psf per plot ratio (ppr) mark. This puts a price tag of around $200 million on the 0.69 hectare site which has a maximum gross floor area (GFA) of 29,227 square metres.

The most recent new hotel site to be sold was at Bencoolen Street. It went to LaSalle LAO Singapore for $451 psf ppr. Earlier this week, a mixed development site at Collyer Quay, with a 45 per cent hotel component, went to Sino Land for $1,540 psf ppr.

Under Urban Redevelopment Authority guidelines, hotel developments must have at least 60 per cent of their GFA dedicated for hotel use. The remaining 40 per cent may have commercial uses, including retail.

Mr Ku said that the possibility of including an office component as part of the development could raise the potential for aggressive bidding even higher.

The usual suspects, including Millennium & Copthorne Hotels and Park Hotel Group, are expected to compete for the site.

Park Hotel Group director Allen Law said he is still bullish about hotel properties here, and does not believe prices are rising too quickly even after the company lost the Collyer Quay site to Sino Land, putting in a bid that was 35 per cent lower. 'Collyer Quay was a totally different play,' he said.

URA has also put a large 1.16 hectare site at Punggol Point for F&B development on the GLS reserve list.

The site is part of URA's Rustic Coast Proposals which formed part of the Parks and Waterbodies and Identity Plan of 2002.

As part of these plans, Punggol Point is intended to be developed into a sea sports and recreational destination.

The site has a maximum GFA of 3,000 sq metres. It comes with a 15-year lease. Mr Ku estimates that the site could fetch about $4.8 million, or $150 psf ppr.


By ARTHUR SIM