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Old August 31st, 2010, 02:36 PM   #1
SingaporeCity
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[COMPLETED] Holiday Inn Express Clarke Quay | U/C | 2013

Hotel site for sale
Jun 28, 2010

A HOTEL site at the junction of Clemenceau Avenue and Havelock Road is up for sale by tender.

The Urban Redevelopment Authority (URA) launched the Reserve List site for tender on Monday after it received an application from a developer who has committed to bid at least S$40.8 million for the land parcel.

The 0.55 ha site is within walking distance to Singapore River and Clarke Quay and is also a short distance away from the heart of the city's business and financial centre in Raffles Place and Marina Bay.

It can generate a maximum permissible gross floor area of 11,555 sqm for hotel use.

The tender for the site will close at noon on 31 August 2010. Selection of the successful tenderer will be based on the tender bid only, said the URA.


Last edited by SingaporeCity; November 18th, 2010 at 10:53 AM.
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Old August 31st, 2010, 02:37 PM   #2
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Hotel site attracts 13 bids

Hotel site attracts 13 bids
http://www.straitstimes.com/Breaking...ry_573107.html

RB CAPITAL Hotels submitted the top bid of $101 million for a hotel site at Clemenceau Avenue/Havelock Road at the close of the tender exercise on Tuesday, said the Urban Redevelopment Authority.

This works out to $8,750 per sq m of gross floor area for the 5,502 sq metre site.

The 99-year leasehold parcel attracted 13 bidders after it was launched for public tender on June 28.

The second highest bid of $96 million ($8,308 psf/GFA) was from Tampines Court, followed by $85.8 million from Leisure Inn Hotels Pte Ltd.

The hotel site, with a maximum gross floor area of 5,502 sqm, was originally placed on the Reserve List of the Government Land Sales Programme. It was triggered for sale after URA accepted a successful application for the site to be put up for tender.

The other bidders include Republic Hotels and Resorts, Ascott Properties (Singapore), Orion-One Commercial, Tang Boulevard Pte Ltd and Tang Hotel Pte Ltd, and Regal Land Pte Ltd.

URA will announce the award of the tender after it has evaluated the bids.

Last edited by SingaporeCity; August 31st, 2010 at 03:05 PM.
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Old September 1st, 2010, 06:38 PM   #3
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Clemenceau hotel site fetches $101m

By Fiona Chan, Assistant Money Editor

MAJOR hotel players were among 13 bidders yesterday for a hotel site at the junction of Clemenceau Avenue and Havelock Road.

The highest offer of $101.11 million was lodged by RB Capital Hotels, which is controlled by a nephew of Royal Brothers Group’s Asok Kumar Hiranandani.

It pipped bids from established hoteliers such as The Ascott Holdings, Millennium & Copthorne Hotels and Fragrance Group.

The top tender price works out to about $813 per sq ft (psf) of gross floor area, according to a statement by the Urban Redevelopment Authority.

This is significantly more than the $40.9 million initial bid that triggered the tender for the site, and almost double what analysts had initially expected for the 99-year leasehold land.

Sited next to Central Mall and Merchant Square, the parcel is about 5,500 sq m and can be built up to seven storeys and 11,555 sq m in gross floor area.

Singapore’s booming tourism sector is the reason for the enthusiastic response to the site, property consultants said yesterday.

‘We expected quite a good number of bids, because the hospitality sector is definitely one of the hot areas that developers are looking at now,’ said DTZ’s head of South-east Asia research, Ms Chua Chor Hoon.

‘In fact, we see tourist arrivals hitting a new record high every month, room rates are going up and the integrated resorts are giving Singapore quite a buzz.’

Almost 1.1 million tourists visited Singapore in July, exceeding the one million mark for the first time and extending the streak of record visitor arrivals to its eighth month.

The first seven months saw about 6.7 million tourists and the Singapore Tourism Board is confident that its target of enticing 11.5 million to 12.5 million tourists to visit this year will be met.

In the hotel sector, the average occupancy rate hit 90 per cent in July, up from 80 per cent a year ago, said CBRE Research executive director Li Hiaw Ho.

Likewise, the average room rate increased to $209 in July, a rise of 19.9 per cent compared with the same month the previous year, he added.

‘In the light of the growing number of tourists and demand for hotel rooms, other sites on the reserve list should be triggered before the end of the year,’ he said.

Mr Li also noted that the site on offer yesterday fetched a much higher price than two nearby ones that were sold in 2006. The site on which Park Hotel Clarke Quay now stands was awarded for $466 psf of gross floor area, while the plot for Studio M transacted at $518 psf.

The Clemenceau Avenue site ‘is well-located with entertainment hubs like Boat Quay and Clarke Quay in close proximity’, Mr Li said.

‘In addition, the CBD, Orchard Road and the Marina Bay Sands are also short drives away. The area is growing into an established hotel location with nearby hotels like Studio M, Park Hotel Clarke Quay, Gallery Hotel, Novotel Clarke Quay and Park Regis Hotel.’

Source : Straits Times - 01 September 2010

Buy Sell Rent invest In Singapore Property Real Estate

MINDY YONG
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Old September 1st, 2010, 06:39 PM   #4
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Deleated *

Last edited by spikeshamz; September 1st, 2010 at 06:41 PM. Reason: Double entry
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Old September 3rd, 2010, 01:09 PM   #5
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Clemenceau Avenue hotel site awarded to RB Capital Hotels
http://www.channelnewsasia.com/stori...078968/1/.html
Posted: 03 September 2010 1757 hrs

SINGAPORE : The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Clemenceau Avenue/Havelock Road to RB Capital Hotels.

The company submitted the highest bid of S$101.1 million for the site. This translates to S$8,751 per square metre per plot ratio.

The site had attracted a total of 13 bids, with the remaining bids ranging from some S$50.1 million to S$96 million.

The tender for the site was launched on June 28 and closed on August 31.

The land parcel has a lease period of 99 years and was made available for sale through the Reserve List System.

With a site area of 5,502 square metres, the land parcel can generate a maximum permissible gross floor area of 11,555 square metres for hotel use.

- CNA/al
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Old November 17th, 2010, 07:25 PM   #6
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The hotel will be a HolidayInn Express the largest in SEA. Will find article and post.

Here's the holidayinn express logo logo:
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Old November 17th, 2010, 07:26 PM   #7
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Source:http://www.channelnewsasia.com/stori...094087/1/.html

Quote:
Hotel industry in S'pore rides on Asian wealth
By Jo-ann Huang | Posted: 17 November 2010 2313 hrs

SINGAPORE : In 2015, as many as 17 million visitors are expected to arrive on Singapore's shores.

That is a big jump from less than 9 million business travellers and tourists last year.

Experts said more visitors will mean greater demand for hotel rooms.

Analysts added that long-term demand for hotel rooms in Singapore is also expected to drive hotel investment trusts.

Global hoteliers like Holiday Inn Express said Singapore holds many business opportunities.

Holiday Inn Express has partnered InterContinental Hotels and RB Capital Hotels to open Southeast Asia's biggest Holiday Inn Express in Singapore.

Opening in 2013, Holiday Inn Express will cater to the emerging market of discerning business travellers.

Kishin R K, CEO of RB Capital Hotels, said: "As we see an increasing number of savvy travellers coming into Singapore, they know exactly what they want in their product offering.

"So they do not want to pay for something that is not going to be used by them. For example, the ballroom space in the hotel - if a consumer of a hotel room does not use the ballroom, I do not think they want to be paying for the maintenance of a ballroom."

Holiday Inn Express, which has between 460 to 500 rooms, is located beside Clarke Quay, at the junction of Clemenceau and Havelock Road.


Four more Holiday Inn Express hotels in Asia will be announced in the next two years.

And as the Asian economy recovers, analysts are bullish on hotel Real Estate Investment Trusts (REITs) in Singapore.

Wilson Magee, director of Global REITs at Franklin Templeton Investments, said: "Some of the companies we have visited this week have occupancy rates above 90 per cent, which in most hotel markets around the world is remarkably high.

"That is significantly driven by improvements in leisure travel where weekend occupancy rates are running at over 80 per cent."

Analysts said room rates will continue to increase 30 per cent year-on-year.

However, developers warn that under supply of hotel rooms may limit tourist numbers.

Meanwhile, rising interest rates may crimp profit margins for hotel REITs, which are posting 6 to 7 per cent yields.

Analysts said funding to acquire more property will come at a higher price.

But they added that the current low interest-rate environment will encourage REITs to procure more properties.

- CNA/ms
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Old November 18th, 2010, 10:52 AM   #8
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Probably an interesting concept targeting business travelers.
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Old November 18th, 2010, 11:50 AM   #9
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Quote:
Originally Posted by SingaporeCity View Post
Probably an interesting concept targeting business travelers.
Here the hotels website:http://www.hiexpress.com/hotels/us/en/reservation. They have quite a few in China.
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Old October 2nd, 2012, 02:02 PM   #10
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Some pics I posted at a much earlier date. I will have another post for the pics I took today.

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Btw, if you can't see the images I posted, I have deleted them.

Last edited by Mith252; October 16th, 2012 at 04:49 AM.
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Old October 2nd, 2012, 02:55 PM   #11
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The horizontal ground beams are actually built on the stumps provided above the CTE tunnels, provided during the construction of CTE to support future developments above. That's why they are so close together, the ground beams serve as the foundation of the building.
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Old October 2nd, 2012, 03:06 PM   #12
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Some pics I took today of the site.


https://fbcdn-sphotos-h-a.akamaihd.n...61934759_n.jpg

https://fbcdn-sphotos-b-a.akamaihd.n...53190013_n.jpg

https://fbcdn-sphotos-a-a.akamaihd.n...16516215_n.jpg
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Old October 2nd, 2012, 04:11 PM   #13
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Early 2013? I doubt it will be ready......
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Old October 2nd, 2012, 06:43 PM   #14
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Quote:
Originally Posted by y2koh View Post
The horizontal ground beams are actually built on the stumps provided above the CTE tunnels, provided during the construction of CTE to support future developments above. That's why they are so close together, the ground beams serve as the foundation of the building.
Now that is really cool. I love farsightedness.
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Old November 12th, 2012, 12:08 PM   #15
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Some pics I took of the site.


https://fbcdn-sphotos-a-a.akamaihd.n...28797732_n.jpg

https://fbcdn-sphotos-h-a.akamaihd.n...83278982_n.jpg

https://fbcdn-sphotos-c-a.akamaihd.n...01175382_n.jpg
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Old December 21st, 2013, 05:12 PM   #16
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Some pictures I took from the site today. Looks like it could be completing soon.


https://lh4.googleusercontent.com/-l...o/DSC_0034.JPG

https://lh4.googleusercontent.com/-z...o/DSC_0035.JPG

https://lh6.googleusercontent.com/-_...o/DSC_0036.JPG

https://lh6.googleusercontent.com/-E...o/DSC_0037.JPG
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Old January 20th, 2014, 06:14 AM   #17
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Passed by quickly this weekend. Seems to be close to completion.



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Old January 20th, 2014, 06:38 AM   #18
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Thanks for the update. From the look of things, it could be done by next month.
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