Food and beverage firm Les Pte Ltd has clinched the tenancy for the former Alkaff Mansion at Telok Blangah Green.
Its top bid of S$79,251 per month beat eight other contenders in the tender by the Singapore Land Authority.
Les will lease the property for an initial period of three years, and the tenancy could be renewed for another two terms of three years each.
The top offer is around three times the monthly guide rent of about $28,100 stipulated by SLA.
The site near Mount Faber can be used as a restaurant, art gallery, spa or museum.
The former Alkaff Mansion, built in the 1920s, was designated a conservation building on in June 2005.
It was previously a popular venue for weddings.
The site has a land area of about nine square metres and an approximate gross floor area of 1,220 square metres.
Source : Channel NewsAsia – 18 Jun 2010