The Crown Property Bureau has awarded Central Pattana (CPN) a 30-year lease to develop a 6.4-hectare section of the former Pre-Cadet School, near Lumpini Park, which is currently occupied by the Suan Lum Night Bazaar.

According to the statement released by the bureau yesterday, CPN's proposal for developing the site met its design and concept criteria for creating a landmark and a true centerpiece attraction for Bangkok. The plan maps out a complex, including world-class shopping facilities, offices and a hotel.

The former lease agreement between the Crown Property Bureau and P Con Development (Thai) for the entire Pre-Cadet School site of 20.3 hectares expired in March last year.

At that time, the Crown Property Bureau gave a grace period of one year to allow small retailers in the Suan Lum Night Bazaar to find new locations. That grace period expires on April 30 this year, the bureau said.

Aviruth Wongbuddhapitak, assistant director-general of the Crown Property Bureau and director of CPBP - the bureau's property development arm - said the 20.3-hectare plot of the former Pre-Cadet School had been divided into three sections. These are the development zone allocated to CPN, an Embassy Row, and an additional sector reserved for "near-term development".

The 6.4-hectare site to be leased by CPN faces Rama IV Road.

CPN's proposal introduces a number of interesting and fresh architectural concepts that will upgrade the appearance and value of both the site and adjacent areas, Aviruth said. Extensive studies have been carried out to ensure a smooth traffic flow around the site and its surrounding area.

The multipurpose development will provide a range of services and products that the bureau considers attractive and beneficial to the community.

CPN's executive vice president for marketing, Nattakit Tangpoonsinthanee, said the company was notified of the lease award only yesterday. Because a memorandum of understanding has yet to be signed, CPN is unable to disclose details of the project.

"However, the location is quite perfect - in the heart of the capital and surrounded by great facilities such as the Skytrain and Suan Lum park. We are quite confident of developing a landmark to promote the good image of Bangkok," Nattakit said.

CPN president and chief executive Kobchai Chirathivat said during an interview with The Nation in November that the company wanted to turn the Suan Lum plot into a high-rise development complex surrounded by the park.

"There are a lot of tall trees. We would keep them all. To maximise value from the land, we would then have to erect high-rise buildings. In a way, this premises could be called 'Central in the Park'," he said.

The Crown Property Bureau said the plans for the site were the result of extensive study and reviews carried out over nearly four years. It hopes the development will become a model for other developments around Bangkok and its environs.

Kwanchai Rungfapaisarn

 The Nation