The former headquarters of Singapore’s Criminal Investigation Department (CID) has attracted high bids to rent its premises.
Six bids in total were received for the property’s less than three-year rental lease, with the highest bid at about S$92,000 per month.
The building at Eu Tong Sen street, which has been gazetted for conservation, has a monthly guide rent of some S$43,000.
Possible uses for the property include turning it into a students’ hostel or arts studio.
There is also potential for other uses when the rental lease ends in February 2015.
SLP International Property Consultants’ executive director, Nicholas Mak, said: “Since only the main building needs to be preserved, there’s a possibility that the developer can clear off some of the auxiliary building and still have enough space to build other buildings.”
“The future development for this site could either be a hotel and a office building, or the entire development could be used as an office building,” added Mr Mak.
Source : Channel NewsAsia – 28 Oct 2012