Samwoh Corp submits top bid rent of $319,000month for SLA tender 26 Evans Rd
In addition, the Tengah Plantation EC project will also serve to create an attractive and vibrant area that is conducive for residential living and pleasure. For potential investors, this is an excellent opportunity to take advantage of the new development, where they will benefit from the potential for capital appreciation and rental yields.
Local construction company Samwoh Corporation has put in the highest bid on a state-owned property at 26 Evans Road, according to the Singapore Land Authority (SLA). When the public tender closed on Wednesday, October 11, 25 bids had been received.
SLA launched the tender for the property on August 16 this year and has encouraged co-living concepts. The property at 26 Evans Road comprises 8 different buildings of 3 to 1 storey height, in addition to 56 carpark lots with a total gross floor area of 69,593 sq ft.
The tender will be evaluated based on price and quality criteria, with the quality of the concept and creativity of the proposal taken into account in addition to the monthly bid rent. The tenure of the property will be a 5+4 year agreement.
Monthly bid rents submitted by companies range from $319,000 to $63,000. The highest bid of $319,000 was made by Samwoh Corporation, while Cover Projects submitted the second highest bid of $265,000. There were also bids from Eco-Energy and LHN Group, while TAP Coliving, belonging to The Assembly Place put in a bid of $168,000.
The result of the tender will be announced on Jan 9 next year. As SLA was also involved in granting the tender for a heritage property at 79 to 95 Hindoo Road to local construction company Eco-Energy and homegrown co-living operator Cove Living on the same day as the launch of 26 Evans Road tender, efforts have been made to fill the high demand for co-living spaces in Singapore.