The Singapore Land Authority (SLA) is launching a public tender for a State property at 11 Penang Lane on 11 August 2009. This was formerly the office of the National Council of Social Services. The allowable uses include hotel, commercial school, foreign system school and office. The tenancy is for an initial period of three years, with an option to renew for two more terms of three years each (i.e, 3+3+3) subject to agreement.

2 The property, with a guide rent of $102,000 per month, has an estimated land area of 807 square metres (sqm) and an estimated gross floor area of 3090.7 sqm. It comprises an 8-storey block and is attractively situated within a prime, city-fringe location. It is also near the campus of the University of Chicago Graduate School of Business, as well as shopping centres such as Park Mall and the Singapore Shopping Centre. Please refer to Annex A for the location map and photo of the property.

3 An auction for the site held last May, attracted 40 bids from public-listed companies, property leasing and management consultancy firms. However, the tenant with whom SLA had signed a tenancy with after the auction subsequently returned possession of the site to SLA in December 2008.

4 So far, SLA has received 27 enquiries regarding the property. Parties who have expressed interest in the property include those from the hotel and education industries.

5 Said Mr Lee Seng Lai, SLA’s Director of Land Operations (Private) Division (李成来, 土地与房产私租处长): “We are confident that the tender will be well received because of its prime location.”

6 The site showround for 11 Penang Lane will be on 18 Aug at 9.30 am. The tender will remain open for 3 weeks from 11 August 09 and will close on 1 September 09 at 11 am sharp. For more information on these properties, please visit SLA’s State Property and Information Online (SPIO) web portal, or call the SPIO hotline at 6323 9154. The tender documents are available on SPIO and http://www.gebiz.gov.sg/. Tender applications may be deposited at Singapore Land Authority, 55 Newton Road, #12-01, Revenue House, Singapore 307987.

-End-

Issued by:
The Singapore Land Authority
11 August 2009

Attachment:
(i) Annex A: Photo of 11 Penang Lane
(ii) Annex B: Location map

About SLA

Singapore Land Authority (SLA) is a statutory board with the Ministry of Law. Its mission is to optimise land resources for the economic and social development of Singapore. SLA is responsible for the direct management of some 14,000 hectares of State land and about 5,000 buildings. It is also in charge of land sales, leases, acquisitions and allocation, developing and marketing land-related information, and maintaining the national land information database through digitised land information services. SLA is also the national land registration authority for property transactions, and the issuance and guarantee of land titles in Singapore. It also manages and maintains the national land survey systems, including the defining of boundaries or legal limits of properties based on a coordinated cadastre survey systems.