Developers interested in a hotel site on Short Street may apply for it to be put up for tender after Singapore's Urban Redevelopment Authority (URA) released detailed sale conditions.

Measuring 0.3 acres, the site is one of two new hotel plots on the reserve list under the second-half 2008 Government Land Sales (GLS) programme. Located in the Bras Basah/Bugis district, it has a maximum permissible gross floor area of 43,884.4 sq ft and is smaller than other sites released this year.

The site could possibly attract smaller property players and new developers, as well as the owner of the neighbouring Albert Court Hotel. A boutique hotel development, much like the Peranakan-style similar to Albert Court Hotel, could be a possible plan for the site. If the site goes up for public tender, bids could possibly range from S$350 to S$400 psf per plot ratio.

Earlier this month, URA received a committed bid of S$51 million (or S$249.6 psf per plot ratio) for a reserve list hotel site situated in Kallang and Jellicoe roads. It also awarded a hotel site in Balestier Road to HH Properties, which put in the highest bid of S$172 psf per plot ratio.

At present, there are nine hotel development sites on the GLS reserve list. The reserve list for H2 2008 provides for potential supply of 5,050 hotel rooms, including a white site at Outram Road, said URA.