Rangoon Road / Farrer Park Station Road hotel site awarded
Which consortium won the tender at the top bid of $151,005,000?
RB Capital Robertson City Pte. Ltd. and RB Capital Farrer Pte. Ltd. submitted the highest bid for the 3,096.1-sqm hotel site with the said tender price, which at a gross floor area (GFA) of 13,004sqm translated to an offer of $11,612.20 per sqm of gross floor area.
The land parcel was offered for sale on a 99-year lease term, said the Urban Redevelopment Authority in a release, and was based on the tender bids placed between February 16, 2012 to April 17, 2012.