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1 The Singapore Land Authority (SLA) has launched a tender for the master tenancy of 33 black and white bungalows at Mount Pleasant. These colonial bungalows, which are approved for residential use, will be offered for an initial tenancy period of 3 years with an option to renew for two more 3-year terms.
2 The 33 bungalows have a gross floor area (GFA) ranging from about 210 - 1,140 square metres and a land area ranging from about 1,500 - 18,000 square metres. The guide rent for master tenancy of the 33 bungalows is $488,300 per month. The properties have a total GFA of about 17,300 square metres and occupy a combined land area of about 181,600 square metres, or approximately 22 soccer fields.
3 The black and white bungalows, a charming throwback to Singapore’s colonial past, are distinctive properties rich in historical value. Besides their architectural significance, the bungalows, set along tranquil and leafy Mount Pleasant Road, designated by the National Parks Board as a Heritage Road, also boast sprawling grounds filled with lush greenery.
4 Invitation to participate is open to interested parties who meet the following set of criteria.
Financial standing |
Proven* cash flow record for the last consecutive 2 years |
Minimum working capital (Current asset – Current liability) of at least one-and-a-half times the annual rental of the subject State Property, based on the tenderer’s bid price, in the latest financial reporting year |
Minimum current ratio (Current asset / Current liabilities) of 1.0 in the latest financial reporting year |
Experience & technical capability |
Proven track record from the tenderer/ its subsidiaries in top-tier hospitality, residential or related business for at least 5 years |
Proven track record from the tenderer/ its subsidiaries in conservation and heritage preservation or related expertise for at least 5 years |
Proven track record from the tenderer/ its subsidiaries in managing black and white bungalows or properties of similar nature for at least 5 years |
*Proven cash flow refers to a positive cash flow, unless valid reasons provided by the tenderer.
5 The tender for the Mount Pleasant black and white bungalows will open on 31 August 2010 and close on 21 September 2010. For more information, please visit SLA’s State Property and Information Online (SPIO) web portal at http://www.spio.sla.gov.sg, or call the hotline at 6323 9154. The tender documents are available on www.spio.sla.gov.sg and www.gebiz.gov.sg. Tender submissions may be deposited at Singapore Land Authority, 55 Newton Road, #12-01 Revenue House, Singapore 307987.
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Issued by:
The Singapore Land Authority
31 August 2010
Attachments:
Annex A: Photos of the black and white properties
Annex B: Location map
About SLA
Singapore Land Authority (SLA) is a statutory board with the Ministry of Law. Its mission is to optimise land resources for the economic and social development of Singapore. SLA is responsible for the direct management of some 14,000 hectares of State land and about 5,000 buildings. It is also in charge of land sales, leases, acquisitions and allocation, developing and marketing land-related information, and maintaining the national land information database through digitised land information services. SLA is also the national land registration authority for property transactions, and the issuance and guarantee of land titles in Singapore. It also manages and maintains the national land survey system, including the defining of boundaries or legal limits of properties based on a coordinated cadastre survey system. For more details, visit www.sla.gov.sg.
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