Ex-school site attracts healthy interest
Posted by luxuryasiahome on December 3, 2008
THE former Seh Chuan High School has received healthy responses under the Ideas Tender Scheme by Singapore Land Authority (SLA).
Teo Cher Hian, SLA’s director of land operations (private), said yesterday: ‘The response to this property was encouraging. From our experience, we note that those in the education business take a longer-term view and react less to short-term fluctuations. This market sector has remained active with strong bids.’
The highest bid of $90,058 came from Dimensions Commercial School. Other bidders were existing SLA tenants such as Etonhouse International Holdings and Chatsworth International School.
Mr Teo added: ‘We believe that school operations are likely to take up new premises either for expansion or new operations in anticipation of demand when the economy improves.’
The site has a gross floor area of 4,222 sq metres and will be used for educational purposes. It was offered for use as a commercial or foreign system school in October, on a three-year tenancy with an option to renew.
The Ideas Tender Scheme was launched in 2005, and aims to recognise and encourage businessmen and entrepreneurs to pursue innovative ideas on the use of state properties. Between January and October this year, SLA has awarded 11 properties with education as one of the approved uses up about 50 per cent from the year-ago period.
The former Mee Toh School opens for tender under the Ideas Tender Scheme today.
Source : Business Times – 3 Dec 2008
This entry was posted on December 3, 2008 at 1:31 am and is filed under General, Land Sales. Tagged: 375 Race Course Road, Dimensions Commercial School Pte Ltd, Ideas Tender Scheme, Land Sales, Mee Toh School, Seh Chuan High School, Singapore Land Authority, SLA, Upper Bukit Timah. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
