The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast for sale by public tender, it said on Friday morning.
The site is located at the junction of East Coast Road and Joo Chiat Road and contains the "historically and architecturally significant" former Joo Chiat Police Station, which is to be restored as part of the future hotel development.
The 0.8ha plot was put up for tender after a developer committed to bid a minimum of $160 million for the land parcel. It can host a development with a total floor area of up to 266,040 sq ft.
The tender for the site will close at noon on January 21 next year.