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Old December 20th, 2006, 04:40 AM   #1
RafflesCity
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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.







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Old December 20th, 2006, 04:47 AM   #2
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Oh wow....the location is fantastic...near 3 MRT stations...
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More excitment ahead!!!

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Old December 20th, 2006, 05:42 AM   #3
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Ah, the site of our first highrise flats..

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Old December 20th, 2006, 01:31 PM   #4
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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 :-)

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Old December 20th, 2006, 01:53 PM   #5
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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.

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Old December 20th, 2006, 03:09 PM   #6
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Should be interesting... I can imagine the tower deviated to the side of China Square.

Is there a height limit?

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Old December 21st, 2006, 01:39 AM   #7
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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

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Old December 21st, 2006, 05:28 AM   #8
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So short!

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Old December 23rd, 2006, 03:25 AM   #9
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Upper Pickering Street site... the site is a popular venue for many occassions and celebrations, from Seventh Month Geitais, wakes, to Chinese New Year dinners/auctions...


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Old December 23rd, 2006, 03:30 AM   #10
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one more...



(taken with my camera phone yesterday before it rain... non-photoshop)

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Old December 23rd, 2006, 04:36 AM   #11
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That is a large site....indeed....I still remembered seeing those old HDB flats on it back in 2002

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Old December 23rd, 2006, 04:46 AM   #12
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yup, i see them everyday for more than a decade... lots of old folks around this place...

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Old April 7th, 2008, 03:10 PM   #13
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UOL unit is top bidder for hotel site

11 Oct 07

The Business Times
by Kalpana Rashiwala

UOL Group subsidiary Hotel Plaza plans to develop small office, home office (Soho) units as well as a 350-400 room hotel on a choice plot at Upper Pickering Street, for which it emerged as the top bidder at a tender yesterday, UOL Group chief operating officer Liam Wee Sin said yesterday.

Hotel Plaza's top bid of $253.2 million or $805 per square foot of potential gross floor area was 21 per cent higher than the next highest offer of $209 million ($664 psf per plot ratio) from a unit of Park Hotel Group.

The highest of the nine bids at yesterday's state tender for the hotel site was also at least 40 per cent higher than the prices paid for two hotel sites along Tanjong Pagar Road awarded recently, CB Richard Ellis noted.

Market watchers suggest UOL/Hotel Plaza's scheme to include Soho units may have given it the edge in outbidding the other contenders at yesterday's tender. Besides Park Hotel unit Park Plaza, other bidders were:


City Developments' unit Glades Properties ($201.8 million);

Hiap Hoe Superbowl JV ($185 million);

Hotel Properties' unit Op Investments ($161.08 million);

Ho Bee Investment & Multi Wealth Singapore ($153.53 million);

Amara Holdings & Garden City Hotel Holdings ($151.89 million);

AAPC Hotels Singapore ($150 million);

and Soilbuild Group Holdings ($128.82 million).

Analysts estimate that UOL/Hotel Plaza's all-in investment in the project (including land and construction) may be around $400 million. The longish plot, with a frontage of about 200 metres along Upper Pickering Street, is right across the road from Hong Lim Park and diagonally opposite One George Street.

'We're likely to build the hotel on the side closer to One George Street while the Soho tower will be on the other stretch of the plot facing Chinatown Point and Furama,' Mr Liam said yesterday evening when contacted by BT.

'The Soho tower may be about 16 to 20 storeys high and will have about 120-150 units, mostly studio units of about 60-80 sq metres (646 to 861 sq ft) each. We may sell the Soho units or just decide to keep them for lease.

'The hotel is likely to be 16 storeys high and will have about 350-400 rooms. Hotel Plaza will most likely flag it as a Parkroyal. In fact, this will be the flagship Parkroyal hotel in Singapore when it is completed around 2011,' Mr Liam said.

However, hotel industry watchers pointed to the possibility that the group has the option of targeting a higher tier of the market and flagging the new property as a Pan Pacific hotel, since UOL recently bought this brand.

Industry observers said the Upper Pickering Street site is probably one of the choicest plots allowed for hotel development to have been released by Urban Redevelopment Authority in recent years other than the former NCO Club site in Beach Road.

Hotel Plaza owns two other hotels in Singapore - Parkroyal hotels at Beach Road and Kitchener Road - while UOL directly owns 100 per cent of The Negara on Claymore and has an interest of about 30 per cent in Marina Centre Holdings, which has stakes in the Pan Pacific, Oriental and Marina Mandarin hotels here.
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Old April 7th, 2008, 03:12 PM   #14
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Site has recently been hoarded up

image hosted on flickr
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Old April 9th, 2008, 02:05 AM   #15
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Just waiting for the designs then...
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Old April 9th, 2008, 03:12 AM   #16
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It is a very long site, and URA does not want a huge urban wall along the street. Hope it will blend harmoniously into the cityscape without looking like it was plonked there (like Central's facade along Eu Tong Sen Street).
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Old April 10th, 2008, 04:59 PM   #17
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Stepped back facade, with the podium slightly higher or same as that of the shophouses
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Old April 22nd, 2008, 12:13 PM   #18
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Quote:
Originally Posted by RafflesCity View Post
That is a large site....indeed....I still remembered seeing those old HDB flats on it back in 2002
Yeah...used to have 5 old HDB flats there. The 5th block was demolished 1st in order to make way for the NEL, subsequently all the remaining 4 blocks were gone too.
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Old April 22nd, 2008, 01:30 PM   #19
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my grandfather's shop used to be there... can't remember which year but i saw it go...
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Old April 23rd, 2008, 01:17 AM   #20
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I hope they keep some of those mature trees on the edge of the site, it'd be a shame to lose them. They're very close to the road so it wouldn't be difficult to design around them.
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