The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the hotel site at Clemenceau Avenue / Havelock Road for sale via public tender.

The developer has committed to bid at a price of not less than $40.8 million in the tender for the land parcel. The land parcel was made available for sale through the Reserve List system on 26 March 2008.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about eight weeks.

The land parcel is prominently located at the junction of Clemenceau Avenue and Havelock Road. It 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. With a site area of about 0.55 ha, the site can generate a maximum permissible gross floor area of 11,555 sqm for hotel use.