Samwoh Corp offers the highest monthly rent of $319,000 for the SLA tender for 26 Evans Rd
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Local construction firm Samwoh Corporation has submitted the highest bid to rent an official state-owned property located at 26 Evans Road. Based on the Singapore Land Authority (SLA) the tender to bid on the property had received bids from 25 applicants at the time of closing on the 11th of October on a Wednesday.
The public tender for the 26 Evans Road was launched on the 16th of August on the same day SLA gave the heritage property located between 79 and 95 Hindoo Road, to local construction firm Eco-Energy in collaboration with a local co-living provider Cove Living.
The auction for Hindoo Road property was part of the SLA’s efforts to meet the demand for co-living in Singapore from both tenants and operators. SLA also promoted co-living ideas in its bid for the 26 Evans Road.
The property located at the 26th floor of Evans Road comprises eight different low-rise structures ranging from three to one-storeys as well with 56 carpark lots. The properties are comprised of a gross floor space of 69,593 sq feet are available for lease on 5-year-plus 4 year lease.
On the tender webpage of the SLA website, the monthly rental bids on the property vary from $319,000 to $63,000. The bid will be judged in terms of quality and price. It means the value of the concept and the originality of the idea will be assessed as well as the bid rent for each month.
The second-highest monthly bid price of $265,000, was offered through Cover Projects, a local turnkey solution supplier. Eco-Energy also made a bid of $178,000 per month and real estate management firm LHN Group, who controls the Coliwoo co-living brand, made the bid of $165,000.
A co-living company that has thrown its name into the auction are TAP Colivings, an entity that is owned by the homegrown operator of co-living The Assembly Place, who offered $168,000.
According to SLA the results of the competition of the 26 Evans Road will be announced on the 9th of January next year.