URA awards the White Site to GuocoLand

The land parcel will be transformed into a high-quality office and hotel development within the Central Business District.

The Building Agreement for the White site at Peck Seah Street / Choon Guan Street was signed on Wednesday between the Government of Singapore and the successful tenderer of the sale site. The Agreement spells out the rights and obligations of the parties with regard to the development of the site.

Wholly-owned subsidiaries of GuocoLand Limited comprising Perfect Eagle Pte. Ltd., Guston Pte. Ltd. and Belmeth Pte. Ltd., were awarded the tender for the White site at Peck Seah Street / Choon Guan Street on 22 November 2010. The land parcel was launched for tender by the Urban Redevelopment Authority (URA) on 30 July 2010 and closed on 16 November 2010.

Mr Ng Lang, Chief Executive Officer of URA, signed the Agreement as Collector of Land Revenue for the Government of Singapore. Mrs Trina Loh, Group Managing Director of GuocoLand (Singapore) signed on behalf of Perfect Eagle Pte. Ltd., Guston Pte. Ltd. and Belmeth Pte. Ltd.

Development details
Strategically located partly above Tanjong Pagar MRT Station and fronting the key junction of several major roads such as Maxwell Road, Cecil Street, Anson Road and Robinson Road, the land parcel will be transformed into a high-quality office and hotel development that will further anchor the precinct as a prominent business hub within the city centre. Taking advantage of its location within the Central Business District (CBD), the future development will comprise predominantly office use, with a hotel component. This will build up the critical mass of prime office space in the Tanjong Pagar area while meeting the needs of business travellers and tourists. The site may also be developed for other commercial or residential uses. This mix of uses will ensure that the area remains vibrant round the clock.

A public space of at least 1,000 square meters will be built on the ground floor of the new development fronting Tanjong Pagar Park, which will be refurbished. This will allow for public events, such as exhibitions and performances to take place. Retail, food and beverage establishments will also help to enliven the street level space.

The new development will be linked directly to Tanjong Pagar Station and surrounding developments, including Capital Tower, International Plaza and 8 Shenton Way via an existing extensive underground pedestrian network. It will also enjoy easy access to other key districts within the city, such as the CBD and the Marina Bay area. Its proximity to the Ayer Rajah Expressway (AYE), East Coast Expressway (ECP) and Central Expressway (CTE) provides excellent connections to the rest of the island and Changi Airport, according to a URA report.

The White site at Peck Seah Street / Choon Guan Street occupies a site area of 15,023 square meters. A minimum of 60 per cent of the total permissible Gross Floor Area (GFA) is to be developed for office use and a further minimum 10 per cent of the total GFA has to be allocated for hotel use. The remaining GFA can be developed for additional office space and other allowable uses under the White land-use zoning, such as hotel, residential, retail and entertainment.