TWENTY bids from 14 bidders have been received for the former Mee Toh School in Race Course Road - offered for rent under the Ideas Tender scheme - the Singapore Land Authority (SLA) said yesterday.
The Ideas Tender scheme aims to encourage innovative use of state property, instead of restricting it to pre-approved uses.
The top bid for the school came from Cambridge Institute. At $103,998, it is $34,600 more than the guide rent. But price is not the only consideration when SLA decides the winner.
Cambridge Institute wants to use the building to conduct diploma and tertiary courses. It already has three facilities.
Approved uses for the school, which has an estimated gross floor area (GFA) of 2,650 sq m, include office, shops, schools and student hostel. Under the Ideas Tender scheme, bidders can suggest other uses.
SLA yesterday launched an open tender for another former school in Hu Ching Road, with a guide rent of $61,200. It has already received about 12 enquiries, it said.
The building has a GFA of 4,108 sq m and a range of approved uses such as office or school. It will be on a three-year tenancy with an option to renew for a further two three-year terms.
SLA also said yesterday that Dimensions Commercial School has won the tender for the former Seh Chuan High School in Jalan Seh Chuan.
The property, put up for tender in October last year, was awarded to Dimensions in December. Dimensions put in the highest bid of $90,058, and said that it would use the property to expand its hospitality faculty of its existing campus if it won the tender.
Source : Business Times - 14 Jan 2009