New Hotel / Commercial / Mixed Use Sites for development

[Kenzo76]

Originally Posted by Kenzo76

URA awards Jurong hotel site at S$238.3m

Updated 08:41 PM Nov 23, 2012
SINGAPORE - The Urban Redevelopment Authority said on Friday it had awarded the tender for a hotel site at Jurong Town Hall Road to Tamerton, a subsidiary of Genting Singapore, which put in the top bid of S$238.2 million.

The site, which drew a total of 11 bids by the close of tender on Tuesday, sits on 97,165 sq ft in land area and has a maximum permissible gross floor area of 204,051 sq ft.

Tamerton's top bid translates to S$1,167 per square foot per plot ratio for the 99-year leasehold parcel in what Mr Lee Sze Teck, Senior Manager for Training, Research and Consultancy at DWG, said earlier was the highest ever for a hotel site.

He said: "The enthusiastic bidding shows developers' confidence in the development of Jurong East into the next major commercial hub outside the Central Business District. With the surrounding parcels of land along Jurong Town Hall Road and Jurong Gateway zoned commercial, there will be a critical mass of businesses operating in Jurong East."

Details of Land Parcel
Location: Jurong Town Hall Road
Allowable Development Hotel
Site area 9,027 sqm
Maximum Permissible GFA 18,957 sqm
Maximum Building Height 60 m AMSL
Lease Period 99 years
Project Completion Period 60 months
Source: URA, PSR

According to research by Philip Capital, Tamerton's bid was deemed 'excessive' relative to other bidders in the same tender, as well as bidders for other previous hotel tenders.

Genting was very keen to secure this parcel of land, for business reasons and to contradict Philip Capital research, Genting is not that unfamiliar with the hotel business, as they already have the experience in running successful hotel operations at Genting in Malaysia, and the 6 sprawling resort hotels at Resorts World Singapore.

Jurong Regional Centre's development seems to coincide with the upcoming developments for Malaysia's Iskandar Region.
Iskandar's infrastructure growth is rather similar to Jurong Gateway, with planned precincts for offices, residential, resort hotels close to thematic theme parks, except on a larger scale.

Temasek Holdings has a joint-venture project with Malaysia’s sovereign wealth fund Khazanah Nasional to develop land in Iskandar. And it is known that CapitaLand has been appointed project manager for a 2ha urban wellness project in Medini North, a region in Iskandar.
In Singapore, similar collaboration can be found in the development for DUO and Marina One. Mapletree Investments and UEM Land Holdings are project managers of Marina One, while UEM will partner CapitaLand to manage the development in DUO at Ophir-Rochor area.

Jurong Gateway will provide offices, business and resort hotels, retail malls and cater to the aspirations for industrial powerhouses from Tuas & the entire Jurong region to site their HQ office towers at the Jurong Regional Centre.

I believe Woodlands will also be developed as a catalyst along the same line, with developments coming onstream once the Thomson line and the Rapid Transit System across the causeway is completed.

Both regional centres will eventually help supplement the growth of our city centre, with their own thematic goals.

Just my two pence worth

[Mith252]

Some pics I took of the Holiday Inn Express yesterday.



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[Mith252]

Some pics I took of Hotel Grand Central yesterday. Demolition is complete.


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[Mith252]

News on the white site at the junction of Irrawaddy Road and Thomson Road.


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source: TODAY

[Mith252]

Some pics I took of Ogilvy Hotel today.


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[Vrooms]

Source:http://news.asiaone.com/News/Latest%...22-410589.html

Pines Club to be redeveloped

By Esther Teo
The Straits Times
Sunday, Mar 24, 2013

The Pines Club in Stevens Road will be made over into a hotel and commercial development in an ambitious redevelopment plan.

A unit of developer Oxley Holdings has agreed to buy the 18,477 sq m estate for $318 million on a 103-year lease.

Oxley has obtained provisional permission to develop two blocks of eight-storey hotels, two blocks of two-storey commercial buildings and a four-storey clubhouse with a basement on the site, according to a company statement to the Singapore Exchange.

The club's facilities will be integrated into the new complex.

Motoring tycoon Peter Kwee told The Straits Times that club members will be offered places at the Laguna National Golf and Country Club in Changi during the interim construction period.

He owns both clubs.

Members will be able to use the Stevens Road clubhouse facilities after the redevelopment, estimated to take between two and three years.

Talk about the estate's makeover surfaced as far back as last September when a notice on the club's website pointed to proposed redevelopment plans for "expansion and additional amenities... to provide better services to the members".

Oxley said the $318 million purchase price takes into account current property prices in the area and its assessment of the development's potential although no full valuation has been carried out.

The acquisition, which was announced last Friday, will be funded by internal resources, bank borrowings as well as bonds to be issued by the buyer to the seller, it added in a statement.

Oxley develops residential, industrial and commercial projects but has not tackled a hotel before, so it will seek investor backing for the project at an extraordinary general meeting, the statement said.

Its residential projects include Suites@Katong, Parc Somme and Loft@Rangoon.

The Pines Club, formerly known as The Pinetree Club, was sold to Mr Kwee in 2002 for about $100 million.

The former owner, Mr Chng Heng Tiu, had defaulted on a debt for which the property was collateral.

esthert@sph.com.sg

[Mith252]

News from CNA.

Commercial site in CBD up for sale by tender
POSTED: 31 May 2013 10:14 PM


An unknown developer has committed to bid at least S$623.7 million in the tender for the site at Cecil Street/Telok Ayer Street.


The land parcel at Cecil Street/Telok Ayer is up for sale by tender. (Photo: Urban Redevelopment Authority)

SINGAPORE: In about two weeks, developers can start bidding for the site at Cecil Street/Telok Ayer Street.

The sale for the reserve site was triggered after an unknown developer has committed to bid at least S$623.7 million in the tender.

The Urban Redevelopment Authority (URA) said the land parcel spans 7,600 square metres.

It has a maximum permissible gross floor area of 77,000 square metres and can be developed into a building with up to 50 storeys.

Eighty per cent of the space can be allocated for offices and the remaining 20 per cent for retail.

Nicholas Mak, Research Head of SLP International said: "Since the government had not put up any commercial site in the financial district on the Confirmed List since 2011, the tender of this site is likely to attract much attention from major developers.

"However, the restriction to disallow strata-subdivision of the development will limit the bidders to those who have deep pockets and those who plan to eventually divest the whole development to a REIT or property trust. Major developers who are sponsors of REITs could also be interested in this site."

Mr Mak expects five to 10 bidders for the site, with a winning bid of between S$760 million and S$830 million. This works out to S$915 to S$1,000 per square foot per plot ratio.
URA said the development cannot be sub-divided and sold to individual investors as strata-titled property.

- CNA/fa

source: CNA

[don diego 2000]

According to URA website, max authorised height is 250m. Could be another giant in the Tanjong Pagar area

Anyway, it should be an interesting development.

[OpenH2O]

There go the Old Gan Eng Seng pri school. This building has not much architecture merit but I am sure many of us share the memory of running up and down the stairs in these mass produce school in the 70s. I think there are still a few left such as one in Selegie road.

[don diego 2000]

Render of the new small Park Hotel at the crossroad of Serangoon Road and Rangoon Road, next to the Fortuna Hotel and near the future Farrer Mediplex.

[Mith252]

Thanks for the update.

It seems like there is also a mall there according to OneMap.


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[don diego 2000]

On the hoardings, I saw the following logo: "Farrer Square - Medical Suites". Maybe a clinic or a medical hotel alongside the Mediplex?

[Mith252]

News from CNA.

Commercial site near south of CBD launched for public tender
POSTED: 18 Jun 2013 9:49 PM



A location plan of the land parcel which has been launched for public tender. (Photo: URA)

The Urban Redevelopment Authority (URA) launched a 0.8-hectare commercial site at Cecil Street/Telok Ayer Street for public tender on Tuesday.

SINGAPORE: The Urban Redevelopment Authority (URA) launched a 0.8-hectare commercial site at Cecil Street/Telok Ayer Street for public tender on Tuesday.

URA had earlier received a commitment from a developer to bid at least S$623.73 million for the site.

Under the Reserve List system, the site will be put up for sale by public tender as the minimum price committed by the developer is acceptable to the government.

The site was made available for sale through the Reserve List system on 19 December 2012.

The land parcel, which will be directly connected to Tanjong Pagar MRT station, is located near the south of the central business district.

With a potential gross floor area (GFA) of 77,000 square metres, the proposed commercial development can be built up to 50 storeys high.

URA said part of the site will be set aside for open space, and form part of a green network that extends through Tanjong Pagar Park and Duxton Plain Park to Pearl's Hill Park.

URA said the 99-year leasehold land parcel is envisaged to be "a high-quality office development that can meet the needs of business services and financial institutions, and contribute towards strengthening the area as an attractive business and financial hub."

The tender for the site will close at 12 noon on 15 August 2013.

- CNA/xq

source: CNA