Check out this hotel site up for sale

It has a gross floor area of about 24,716 m.

According to a release, the Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the hotel site at East Coast Road for sale by public tender.

The land parcel was made available for sale through the Reserve List system on 26 June 2012. URA received an application from a developer for the site to be put up for public tender.

The developer committed to bid at a price of not less than $160,000,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.

In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site.

However, the identity of the applicant will not be released. 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.

With a land area of 0.8 ha, the hotel site located at the junction of East Coast Road and Joo Chiat Road has a gross floor area of about 24,716 m. The land parcel also contains the historically and architecturally significant former Joo Chiat Police Station which shall be restored as part of the future hotel development.