PDF versionSingapore, - The Urban Redevelopment Authority (URA) today released the detailed sales conditions for a reserve site at Short Street for hotel development. The site at Short Street is one of the two new hotel sites which are scheduled for release for application on the reserve list under the Government Land Sales (GLS) Programme for the second half of 2008.
The subject site has a land area of about 1,165 square metres (12,540 square feet) and can be developed into a maximum Gross Floor Area of 4,077 square metres (43,884 square feet). The proposed hotel development will be located within close proximity to an ethnically and commercially vibrant locality of Little India and Bugis Village. Moreover, hotel guests will also enjoy convenient access to the Central Business District, the shopping street of Orchard Road via nearby MRT stations, namely Little India, Bugis and the under-construction Rochor station.
Based on its planning details and the neighborhood, a boutique hotel development with ethnically artistic design is deemed suitable for the subject development. The potential developer of this site may develop a boutique hotel of Peranakan design, which is similar to the neighboring competitor Albert Court Hotel, which is also a boutique hotel designed and decorated with Peranakan carvings and motifs or one with a fusion of modern design of glass and steel and the Peranakan culture.
It is expected that the likely range of land price for the hotel at Short Street would be from S$330 to S$400 psf ppr (S$14.5 million to S$17.6 million).
Nicholas Mak, Director of Consultancy & Research Department, Knight Frank, +65 6228 6821
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