Property News · September 29, 2017

URA to launch tender for the former Zouk site


Aerial view of the land parcel at Jiak Kim Street, which includes three conserved shophouses. (Photo: URA)
The Urban Redevelopment Authority (URA) announced on Friday (29 September) that it has accepted an application from a developer to put up the former Zouk site at Jiak Kim Street in Robertson Quay for sale by public tender.
The 1.35ha residential with 1st storey commercial site was first made available for sale on the reserve list in June.
According to the URA, the unnamed developer committed to bid a minimum price of $689,353,000 for the plot. As this is acceptable to the government, the site will be released for sale.
With a maximum permissible gross floor area of about 551,478 sq ft, the site could yield 525 housing units.
Offered on a 99-year lease, the land parcel also includes three conserved warehouses that were built around 1919.
The future Havelock and Great World MRT stations on the upcoming Thomson East Coast Line are located nearby.
The URA will launch the public tender for the site in about two to three weeks. The tender period will be about six weeks.  
 
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source : proppertyguru.com.sg/Property Market
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