The Singapore Land Authority (SLA) has awarded the first two sites for transitional office space this year.
One of the most keenly-watched sites was the former Home Affairs Ministry complex at Phoenix Park.
The parcel was awarded to LHN Facilities Management, which will pay S$368,888 in rent per month.
11 bids were received for the Phoenix Park site, 10 of which were above the guide rent of S$165,000 per month.
The second site is the former Monk’s Hill Secondary School at No. 10, Winsteadt Road in the Newton area.
It was awarded to Allbest Equipments for a rental of S$211,328 per month.
The plot received seven bids in total, all above the guide rent of S$147,300 per month.
The SLA is preparing to lease out two more sites for office use.
The first is a former police post at No. 1, Kelantan Road. It has a gross floor area of 177 square metres and is suitable for small start-ups.
The second site is the former Pacific Can Building at Cecil Street, which has a gross floor area of 1,810 square metres.
Leases for the two properties will end in June 2011.
Source : Channel NewsAsia – 17 Jul 2008