The Singapore Land Authority (SLA) has placed the Siglap Primary School for lease through public tender.
This 2,258 square metres property located at 10 LaSalle St has a rent price of $42,900, at $1.77 per square foot.
Allowed uses for the property include business, privately financed and foreign schools, dance, arts or drama studios, and kindergarten or child-care.
Singapore Land Authority collected enquiries from ten interested parties. “Based on the favourable response to our recent tenders for sites with a commercial school as an approved use, we have reason to believe this site will be similarly well received, despite current economic conditions,” said Teo Cher Hian, the director for land operations division at SLA.
In the previous year, two properties were granted for education-related utilisation. In year 2007, there were eight properties given for such use.
Schools that were rented from Singapore Land Authority comprise the Dimensions Commercial School, EASB Institute of Management, Westminster Unicampus, JCU Singapore, and Curtin University and Canadian International School.
Last January, the highest payment proposal for the Mee Toh School located in Race Course Road had been introduced by the Cambridge Institute. It was expected that the building will be used to conduct tertiary courses and education.
The Siglap Primary School is available for rent within a three year period, with an opportunity to renew for another three years, and another two years.