The Fullerton Heritage (Clifford Pier Restoration)

[babystan03]

Originally Posted by RafflesCity

one of the bidder's proposals:

Park Hotel unveils proposal for Collyer Quay

6 Dec 06

HONG KONG'S Park Hotel Group has revealed the design for a proposed project on the Collyer Quay site. It was one of eight bidders that made submissions for the site at a state tender which closed on Oct 17.



Park Hotel's scheme, designed by DP Architects, comprises a hotel development and food and beverage outlets fronting the sea.

Park Hotel director Allen Law declined to reveal how much the group bid, but said its bid was based on a 60-year lease for the site. He would only say that based on the bid price, Park Hotel's overall investment in the project would cross $150 million.

The eight bids for the tender are currently being evaluated by the authorities. Under the two-envelope system for the tender, bidders had to submit concept proposals and tender prices separately. Only concepts approved by the Urban Redevelopment Authority will enter the next stage of the competition - where the best price wins.

The tender site includes two conservation buildings - Clifford Pier and the former Customs Harbour Branch Building - as well as two adjoining land plots. The successful bidder may build new structures and buildings within the demarcated water space around the existing buildings.

Park Hotel group is investing about $650 million in the Singapore hotel market, excluding the Collyer Quay project.

The group bought Crown Hotel at the Orchard/Bideford roads junction last year for $300 million (and will spend a further $80 million refurbishing the property, including adding a retail gallery), and Parkroyal hotel at Coleman Street for about $141 million in October.

It also clinched a site (next to Robertson Quay hotel) for hotel development at a state tender which closed in August.

Hmmm...looks promising.....

[RafflesCity]

I hope the other designs can be more exciting, but thats only a small pic....wonder if they would pick the winner before or after the IR announcement...

[babystan03]

Originally Posted by RafflesCity

I hope the other designs can be more exciting, but thats only a small pic....wonder if they would pick the winner before or after the IR announcement...

Yeah.....I rather they pick a WOHA design......more exciting....

[redstone]

I'm confused. Will OUH be redeveloped together with Clifford?

[RafflesCity]

They are 2 separate projects, and the Clifford Site must provide for hotel uses.

[redstone]

The Clifford site is very small....

[Charging Bull]

How come tender result still not out?
May be the outcome is like today TOTO result: No Winner

Very Tired. Have been checking URA website every day
Wake up URA!! Wake Up

[RafflesCity]

yah tender closed some time back...

maybe they held back the award because they wanted to see which result could complement the IRs best? maybe...

[Charging Bull]

18 December 2006

Award of Tender for Proposed Commercial / Hotel Development at Collyer Quay

The Urban Redevelopment Authority (URA) has awarded the tender for Collyer Quay sale site to Precious Treasure Pte. Ltd.

MARINABAY – A 24/7 ‘LIVE-WORK-PLAY’ ENVIRONMENT

MarinaBay is envisaged to be a waterfront ‘Garden City by the Bay’, and an international business and financial hub. It will reflect Singapore’s position as a dynamic Asian city and a great place to live, work and play in.

With its prominent location and distinctive waterfront, MarinaBay will become a key urban venue where Singaporeans and visitors of all ages can come to enjoy its varied attractions. Today, the attractions around MarinaBay already include the MerlionPark, the Esplanade – Theatres on the Bay, and One Fullerton. In the next few years, new attractions such as The Singapore Flyer and the Marina Bay Integrated Resort will be completed. The Collyer Quay site will add to this necklace of attractions around MarinaBay.

The Collyer Quay site is envisaged to be developed into a distinctive waterfront destination that features a hotel component together with commercial and recreational uses that will transform the area into an exciting and lively precinct.

TWO-ENVELOPE TENDER

In order to ensure that the development at Collyer Quay is of an appropriate quality that will complement and enhance the plans and vision for Marina Bay, a two-envelope system was used to evaluate tender proposals for the site.

Under the two-envelope system, tenderers were required to submit their concept proposals and tender prices in two separate envelopes. The concept proposals were first evaluated by a Concept Evaluation Committee (CEC) based on the evaluation criteria of use, business and design concept and track record.

In terms of use concept, the CEC considered whether the mix of uses in the concept proposals were distinctive, have a strong public orientation and draw and could make the development a must-visit destination. For business concept, the CEC assessed whether the concept proposals would result in a development that would have a sustainable appeal for both locals and visitors. Considerations such as good public / pedestrian access to the waterfront and the appropriateness of the new structures and extensions in relation to the existing CliffordPier and former Customs Harbour Branch building were looked at when the CEC evaluated the design concept of the proposals. The tenderers’ experience in developing or operating good quality facilities in hotels or similar mixed-use developments was considered under the track record criterion.

Only concept proposals that were short-listed by the CEC as having satisfied the above evaluation criteria were considered for award.At the second stage, only the price envelopes of proposals with short-listed concepts were opened for consideration. The site was then awarded to the tender with the highest bid among the short-listed concept proposals.

DETAILS OF TENDER

The Collyer Quay site was launched for tender on 29 Jun 2006 and the tender closed on 17 Oct 2006. A total of 8 tenders were received for this site.

The concept proposals from Park Hotel Orchard Pte. Limited, PreciousLand Pte. Limited and Precious Treasure Pte. Ltd., were short-listed for the next stage of tender evaluation. These tenderers offered concept proposals that were able to meet the evaluation criteria and vision to create an exciting and lively waterfront lifestyle destination along this stretch of MarinaBay. Each of their concept proposals contained a good mix of uses with public-oriented attractions and programming of activities that could help to activate and open up the entire stretch of Collyer Quay waterfront for public enjoyment. In addition, the proposals contained exciting and unique hotel, retail and entertainment concepts that can contribute to the positioning of MarinaBay as a leading business and lifestyle hub.

The price envelopes of these 3 short-listed tenderers were opened and the details of the price bids are as shown in Annex A. In accordance with the two-envelope system, the Collyer Quay site is awarded to Precious Treasure Pte. Ltd which submitted the highest price bid of $165.8 million for a 60-year lease.

CONCEPT PROPOSAL BY PRECIOUS TREASURE PTE. LTD

Precious Treasure Pte. Ltd.’s proposal for the Collyer Quay site features a luxury boutique hotel, occupying 45% of the Gross Floor Area (GFA) with a good mix of complementary uses including F&B, retail and entertainment uses, to create a compelling lifestyle destination for locals and visitors. These include fine-dining restaurants, more casual family-oriented restaurants as well as fashion-inspired retail shops that have potential to be attractions themselves. This will allow the development to attract a diverse group of visitors, thus opening up the waterfront for public enjoyment.

In line with the vision to create a vibrant waterfront destination, other proposed attractions include unique floating pods, which can be used as function rooms or for retail uses, and a floating public plaza cum discotheque within the water space near One Fullerton. This structure will be connected to the adjacent waterfront promenade and deck via an illuminated floating glass walkway and a retractable bridge.

To enhance the development’s public orientation and draw, Precious Treasure Pte. Ltd. also plans to use the Collyer Quay development as the venue for internationally renowned local events in the like of Singapore Arts Festival, WOMAD, Singapore Biennale and the Singapore Music Festival. A Maritime Gallery in the former Customs Harbour Branch building is also proposed. Overall, the proposal offers a compelling scheme for the Collyer Quay waterfront and will contribute to the attractiveness of Marina Bay.




--------------------------------------------------------------------------------

For media enquiries, please contact:

Ms Ang Hwee Suan

Head, Public Relations

DID: 63218134

Email: ang_hwee_suan@ura.gov.sg

Ms Lynn Ng

Public Relations Officer

DID: 6329 3251

Email: lynn_ng@ura.gov.sg

For enquiries on sale of the above site, please contact:

Ms Chong Yiun Lin

Property Officer

Land Sales & Management

DID: 6321 8217

Email: Chong_Yiun_Lin@ura.gov.sg

[babystan03]

Wow.....hopefully they post rendering of it soon.....

[Charging Bull]

Winner : FarEast Org. again

[Charging Bull]

Sino Land wins Collyer Quay development site for S$165.8m
By Loh Kim Chin, Channel NewsAsia | Posted: 18 December 2006 2143 hrs


Photos 1 of 1

Map courtesy URA



A subsidiary of Hong Kong-listed Sino Land, Precious Treasure, has won the tender for the Collyer Quay development site.

It is paying S$165.8 million, or S$16,580 per square metre of gross floor area.

This is more than thrice the S$48.4 million that property consultants had expected the property to fetch.

The site is earmarked for a hotel and commercial development.

The tender was conducted through a two envelope system that was used to evaluate the tender proposals.

Precious Treasure's proposal for the Collyer Quay site features a luxury boutique hotel for a 60-year term.

The hotel will occupy 45 percent of the gross floor area with a good mix of complementary uses including food and beverage, retail and entertainment uses.

Other proposed attractions include unique floating pods, which can be used as function rooms or for retail uses, and a floating public plaza cum discotheque within the water space near One Fullerton.

The parent company of Precious Treasure is a sister company of Far East Organization which owns the nearby Fullerton Hotel.

Under the two envelope tender system, tenderers were required to submit their concept proposals and tender prices in two separate envelopes.

The concept proposals were first evaluated based on the evaluation criteria of use, business and design concept and track record.

At the second stage, only the price envelopes of proposals with short-listed concepts were opened for consideration.

The site was then awarded to the tender with the highest bid among the short-listed concept proposals. - CNA/ch

[redstone]

wow!!!

What will the pier building be used as?

[freelance]

Originally Posted by Charging Bull

It is paying S$165.8 million, or S$16,580 per square metre of gross floor area.

wow....wonder what that does for CBD land values. that works out to about $1540 psf land value which is really quite crazy, unless you are maybe talking about prime orchard road retail.

if max. GFA is about 105,000 sq.ft., that means hotel would be around 50,000 sq.ft. so can probably only accomodate about 125 rooms. wonder if they will make it more of a "serviced / long-stay hotel" to try and aim for Ascott-level nightly rates.

still, i am guessing it must be a 15+ year payback period for the whole project...

oh well, nice to see more foreign groups making a long term bet on singapore

[RafflesCity]

Sino Land bags Collyer Quay site for $166m

19 Dec 06

FEO's sister firm aims to integrate plot with its One Fullerton site and Fullerton Hotel



A HOTLY contested site at Collyer Quay has been awarded to Hong Kong's Sino Land, the sister company of Singapore property giant Far East Organization (FEO).
Sino Land, controlled by the family of property magnate Ng Teng Fong, turned in the two highest bids out of three shortlisted offers.

Its winning tender, which topped the shortlist at $165.8 million, is anchored by a luxury boutique hotel featuring about 120 rooms with 'full sea views' that will take up almost half the floor area of the landmark plot.

The rest of the site, comprising Clifford Pier and the former Customs Harbour Branch Building, will also be transformed into a 'hip and trendy Fisherman's Wharf', said Sino Land executive director Daryl Ng yesterday.

The project's entire development cost is expected to be about $150 million, he added.

Clinching the Collyer Quay site will enable Sino Land to consolidate its hold over the waterfront area, as the plot is right next to Sino Land's commercial and retail development One Fullerton and is across the road from the group's The Fullerton Hotel.

In fact, the possibility of an integrated waterfront development was what led Sino Land to put in its bullish 60-year tenders for the 2.67ha plot, said Mr Ng.

'Because we already own the waterfront of One Fullerton and The Fullerton Hotel, we believe that with this site we can provide an even better integrated and attractive waterfront,' he told The Straits Times by telephone from Hong Kong.

'We hope to create a holistic approach to our design so that tourists can walk along the water from the Merlion Park all the way past One Fullerton and our Collyer Quay site, then on to the Business and Financial Centre and Marina Bay integrated resort - a whole waterfront walkway that should be very pleasant.'

Sino Land's vision for the site is a 'prestigious world-class landmark' and vibrant tourist destination for Singapore, added Mr Ng.

'We want to turn this into a must-visit destination, so we're trying to create new and innovative waterfront leisure uses for Singaporeans and overseas tourists,' he said.

Some unique features include a floating public plaza and discotheque within the water space near One Fullerton, as well as six floating 'pods' to be used as function rooms, shops or restaurants.

The discotheque will be connected to the adjacent waterfront promenade and deck via an illuminated floating glass walkway and a retractable bridge, while the pods - set to be the first of their kind in the world - will be connected by floating decks.

A maritime gallery showcasing the history of the Collyer Quay area will be set up in the former Customs Harbour Branch Building.

Sino Land also plans to work with the Singapore Tourism Board to use the site for domestic events such as the Singapore Arts Festival, said Mr Ng.

He also threw light on Sino Land's reason for submitting two bids for the site: They were the result of two 'equally good but very different' concepts proposed by two separate architecture firms.

Since Sino Land could not decide which design was better, it turned in both concepts - a prudent move because the Urban Redevelopment Authority had used a two-envelope tender system for the site. Bids were first evaluated based on concept, and only the approved ones would move on to compete on price.

The winning proposal was designed by local firm DP Architects and submitted by Precious Treasure, a Singapore-based unit of Sino Land's The Fullerton Hotel.

Sino Land outbid two other other shortlisted candidates: a $161.8 million submission by Precious Land, another Sino Land unit, and a $108.3 million bid by Hong Kong's Park Hotel Group.

Five other parties tabled tenders, including tycoon Kwek Leng Beng's City Developments and Hong Kong's Carlton group.



By Fiona Chan

[redstone]

Somehow I don't like the idea of entire stretches of certain areas owned by a single developer.

[PJCCUK]

can lead to a lack of variety ... they try and harmonise everything .... which sometimes works ... but not always ... but this should be ok... doesn't look too bad from the picture, glassy but well, that's ok.

[RafflesCity]

Sino Land's bid for Collyer Quay site sets new benchmark price

19 Dec 06

But analysts say site cannot be easily compared with other recent transactions



SINO Land has set a new benchmark price of $1,540 psf per plot ratio (ppr) for a commercial/hotel site with its top bid of $165.8 million for a site at Collyer Quay. For hotel sites alone, Sino Land's bid far exceeds the $520 psf ppr paid by Hong Leong Group for a site at Mohamed Sultan Road in November. It is also more than the $1,455 psf ppr that Lend Lease paid for the Somerset Central mixed development site in August.

Most analysts, however, believe that the Collyer Quay site cannot be easily compared with other recent property transactions.

Knight Frank director of research and consultancy Nicholas Mak said the Collyer Quay site is in 'a class of its own'. A substantial portion - including Clifford Pier and the former Customs Harbour Branch building - has been gazetted for conservation. He also pointed out that the site includes part of the water body surrounding it, making future construction complex.

Mr Mak attributed Sino Land's bullish bid to the Hong Kong-based sister company of Far East Organization wanting to 'safeguard' its position in the area, where it also owns The Fullerton hotel. This benchmark price could now be used as a 'reference' by planning authorities for future land sales in the area, including the site between Marina Bay Sands and the Business Financial Centre, although Mr Mak believes that it will not 'impact the prices of Marina Bay that much'.

Sino Land put in the top two bids of $165.8 million and $161.8 million out of the three bids that were shortlisted by the Urban Redevelopment Authority based on concept. Eight bids were received in the two-envelop system.

The third highest shortlisted bid was $108.3 million from Park Hotel Group - 35 per cent lower than the top bid.

In a statement released yesterday, Sino Land said: 'The development will complement our historical and international award winning Fullerton Hotel, OneFullerton and the Fullerton Water Boathouse.'

Sino Land will build a luxury hotel with 120 'full sea-view rooms' taking up 45 per cent of the total gross floor area (GFA) of 10,000 sq m (107,639 sq ft) with the rest going to F&B, retail and entertainment uses.

Park Hotel Group director Allen Law said that its bid had a substantially larger percentage of the GFA going towards hotel rooms. 'We want to build our hotel brand,' he said.

Indeed, Jones Lang LaSalle Hotels executive vice-president Chee Hok Yean said that someone whose bid includes a 200-room hotel would have not have been able to bid as high as Sino Land. 'You get better returns from commercial and retail space,' she added. Even so, Ms Chee expects that Sino Land will have to charge $400-$500 per night to make its hotel feasible.

David Ling, managing director of hospitality consultancy HVS International, who said that the price Sino Land paid is 'unprecedented', believes that the Hong Kong developer will probably focus on the F&B, retail and entertainment component too.

Mr Ling estimates that luxury hotel rooms should be around 60 sq m each. Sino Land however, said that about 4,500 sq m of the GFA will be for the hotel, which means that each room will only be 37.5 sq m big.


By ARTHUR SIM

[Suipalucsea]

What other properties has Sino Land developed in Singapore?

[glitz_boy]

wow! good addition to marina bay area ....

btw, URA also start selling the land piece in front of tanjong pagar plaza - beside Amara Hotel in Tj Pagar ... wonder what will it be ....