Source : Channel NewsAsia - 2 Dec 2008
The demand for land to build schools has remained healthy, with seven bids received for a piece of land at Upper Bukit Timah.
The Singapore Land Authority (SLA) said that of the seven bids for the former Seh Chuan High School, four were fairly strong bids above the guide rent of S$73,100 per month.
The highest bid was from Dimensions Commercial School Pte Ltd, and some of the other bidders were existing SLA tenants like Etonhouse International Holdings and Chatsworth International School Pte Ltd.
The property on 9-3 Jalan Seh Chuan has a gross floor area of about 4,222 square metres, and was offered for tender in October for use as a commercial or foreign system school on a three-year tenancy, with an option to renew two further terms of three years each.
SLA’s director of Land Operations (Private) Division, Teo Cher Hian, noted that those in the education business take a longer view and react less to short-term fluctuations. He added that this sector has remained active with strong bids.
So far this year, the SLA has awarded 11 properties, with education as one of the approved uses. That is 50 per cent more than the same period last year.
The authority has also launched another former school site at 375 Race Course Road under its “Ideas Tender Scheme”. This means that bidders can suggest other innovative uses for the property which used to house Mee Toh School.
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