If you were hoping to scrimp on Formula 1 tickets by parking yourself at one of the trackside bars or restaurants, think again.

Most of the outlets that have a prime view of the race are organising their own F1-themed events, which won't come cheap.

Fullerton Water Boat House restaurant Le Saint Julien, which recently signed a deal with race organiser Singapore GP (SGP),will boast a mini grandstand overlooking Turn 13 -a challenging hairpin bend.

The package offers guests free flow of champagne and wine,canapes as well as a sit-down dinner,and comes with a price tag ranging from $688 (for Friday's practice sessions) to $4,888 (for three days, including the main race).

While this is pricier than the $3,500-$4,500 charged for a three-day pass at the Stamford grandstand hospitality suites, it still works out cheaper than the suites at the pit and the turns ($5,000-$6,500) and of course, the exclusive Paddock Club ($7,500).

St Julien has yet to fill its 80-person capacity. "On average, bookings across the three days hover at about 50 per cent," said Alastair Hunt, SGP's circuit park manager.

Meanwhile, Suntec City has booked out three of its meeting rooms -which overlook Turn 7 - to two groups of clients. Clients approached us and asked us if they could run a premium menu on those specific dates, said director of sales, Ong Wee Min.

In addition, its Chinese restaurant Pearl River Palace - which also has a view of the race circuit - has modified its menu to offer a buffet (starting from $138 nett) complete with special live stations for the race weekend and will limit capacity from its regular 380 down to 150 so guests have sufficient space to move about.

Bookings for Sept 28 ($288 nett) currently run at 65 per cent, added Mr Ong.

The Axis bar over at the Mandarin Oriental, which has a view of the track, is featuring free-flow champagne and oysters flown in from Australia and New Zealand for $325++ a head on Sept 26 and 27, and a whopping $500++ per person on Sept 28. Guests will also be able to watch the race on the six plasma televisions that will telecast the race 'live'.

Despite the high prices, the Axis bar- which can accommodate 100 people -has already been three quarters booked for the night of the Grand Prix.

"For bookings, we have both corporate and individual guests but the majority are corporate outfits entertaining their top VIPs," said Ruth Soh, director of communications.

"Our priority now is not to oversell the outlet as we want all of our guests who are paying $500 to enjoy the race in a comfortable and spacious setting."

Swissotel The Stamford is also seeing a 'good mix' of bookings from both companies and individuals for its restaurants and bars that overlook the circuit.

Outlets such as - Jaan, Equinox Restaurant, City Space and New Asia have private functions booked during the three-day period?, said Aiden McAuley, general manager of Swissotel The Stamford.

Bars New Asia and City Space are charging $50++ per head ? inclusive of one complimentary drink - as cover charge, while Equinox will be running both lunch and dinner menus as well as Sunday brunch.

Pan Pacific's Cantonese restaurant Hai Tien Lo, which is said to offer a bird's-eye view from its location on the 37th floor, has created set lunch and dinner menus from $148++ as well as an a la carte brunch buffet ($58++).

"For Sept 28, Hai Tien Lo bookings are running quite high now," said Carolyn Goh, marketing promotions manager.

Alternatively, there's the option of watching the race from the viewing gallery on level 4,which overlooks Raffles Boulevard.

This, however, only comes with one standard drink for the price ($108++).

Over at the viewing deck of the Singapore Flyer, The Bubble Lounge will offer guests a view of the final stretch of the track.

Guests are expected to include 'international and local celebrities,models and F1 racers' and will be limited to a couple of hundred people, organisers said.

At this point, 60 per cent of the tickets ($688 each) have been sold which include three-day walkabout F1 tickets, a bottle of Mumm champagne, a ride on the Flyer as well as free river taxi rides from Clarke Quay.

This article was first published in The Business Times on Sept 13, 2008.