A commercial and residential site in Holland Road was put up for sale yesterday under a dual-envelope concept and price tender that will close on March 20.
Located near Holland Village MRT station, the site can have a maximum gross floor area of 59,715 sq m, of which, up to 13,500 sq m can be for retail use. The Urban Redevelopment Authority (URA) has set a cap of 570 residential units for the project.
A private housing site in Handy Road that can yield about 130 residential units was also launched for tender in October.
The tender for this site will close on Jan 30, together with those for a private residential site in Chong Kuo Road and an executive condominium site in Sumang Walk under a batched-tender exercise.
The Holland Road and Handy Road sites are launched for sale under the confirmed list of the Government Land Sales programme for the second half of this year.
Sites on the confirmed list are put up for tender according to schedule, regardless of demand.
The URA also made available for application under the reserve list two private housing sites – the one in Mattar Road can yield about 255 units and the one in Canberra Drive, about 765 units. Sites on the reserve list are launched for tender only on successful application by a developer or when there is sufficient market interest in a site.
All four sites, which have a 99-year leasehold tenure, can potentially yield about 1,720 residential units, the URA said in a statement.
The Holland Road parcel is the first sale site to be launched as part of the Holland Village Extension unveiled in the 2014 Master Plan.
“As the design quality of the new development is critical to set Holland Village apart as a distinctive and endearing ‘identity node’, a concept and price revenue tender system will be adopted to evaluate the tenders,” the URA said.
Under this system, tenderers must submit their concept proposals and tender prices in two envelopes. The concept proposals should demonstrate how the proposed development on the land parcel will address the following evaluation criteria: quality of design concept, quality of public realm and track record.
A Concept Evaluation Committee (CEC) will first evaluate the concept proposals against the evaluation criteria. Only those that substantially satisfy the evaluation criteria will be shortlisted by the CEC for the second stage of the tender evaluation.
At the second stage, the price envelopes of proposals with acceptable concepts will be opened for consideration. The site will then be awarded to the bidder with the highest bid among those with acceptable concept proposals.