Sunday, October 28, 2012

Former CID headquarters receives high bids for lease


SINGAPORE: The former headquarters of Singapore's Criminal Investigation Department (CID) has attracted high bids to rent its premises.

Six bids in total were received for the property's less than three-year rental lease, with the highest bid at about S$92,000 per month.

The building at Eu Tong Sen street, which has been gazetted for conservation, has a monthly guide rent of some S$43,000.

Possible uses for the property include turning it into a students' hostel or arts studio.

There is also potential for other uses when the rental lease ends in February 2015.

SLP International Property Consultants' executive director, Nicholas Mak, said: "Since only the main building needs to be preserved, there's a possibility that the developer can clear off some of the auxiliary building and still have enough space to build other buildings."

"The future development for this site could either be a hotel and a office building, or the entire development could be used as an office building," added Mr Mak.


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