The German European School Singapore campus at 72 Bukit Tinggi Road (pictured) has been launched for 26-year lease tender, according to marketing agent Savills Singapore.
The lease has a renewal option of another one-plus-one year that could be granted thereafter.
Located within The Swiss Club area, near Bukit Timah Plaza and The Grandstand the property has a land area of approximately 130,216 sq ft and comprises seven low-rise blocks, a basketball court, playground, carpark lots and a forum with an approved gross floor area of around 93,969 sq ft.
The site is zoned “educational institution” under the 2008 Master Plan and is situated within an established cluster of renowned international schools such as the Hollandse School, Swiss School and Singapore Korean International School. The campus is also accessible from Swiss Club Road, Binjai Park and Jalan Kampong Chantek.
According to Savills, the property has a minimum reserve price of S$39 million or about S$415 psf.
Commenting, Suzie Mok, Senior Director of Investment Sales at Savills Singapore, said: “The tender exercise provides a rare and exceptional opportunity for existing Foreign System Schools and new entrants to invest long term in a flagship campus located in one of the most desirable prestigious international school enclaves.”
“We expect strong interest in this attractive asset offering given that it has rarely been brought to the market coupled with increasing interest from multiple educational institutions seeking quality accommodation on a long term basis. Currently, the supply of both long term sites and temporary facilities for educational institutions is only made available by the state.”
The tender for the site will close on 18 November.
Image source: Savills
Nikki De Guzman, Junior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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