Former CID headquarters receives high bids for lease

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

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