Old Zouk site up for public tender

THE Urban Redevelopment Authority (URA) has accepted an application from a developer to put up a residential with first storey commercial site at Jiak Kim Street for sale by public tender, which will be launched in two to three weeks.

Announcing this on Friday, the URA said the land parcel, the site of the recently shut Zouk nightclub, was first made available for sale on the reserve list in June.

It received an application from a developer for the site, a land area of about 1.35 hectares, to be put up for public tender.

The developer committed to bid at a price of not less than S$689.35 million 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, the URA is making public the minimum price committed for the site, but the identity of the applicant will not be released.

The tender period for the site will be about six weeks.

The plot, with a land lease of 99 years, is zoned for residential with commercial use on the first level.

It will have a maximum permissible gross floor area of 51,234 square metres.

The URA said the maximum building height is 36 storeys, subject to a technical height control of 153 metres above mean sea level and the estimated number of housing units is 525.

More details on the land parcel are available on the URA website at http://www.ura.gov.sg/uol/land-sales-repository/sites-available/jiak-kim-st-ma.aspx.