The Singapore Land Authority (SLA) will put up two more properties for tender in the coming months to boost the supply of interim office space, backroom support operations, training facilities for business services and financial institutions.

They are the former ITE Balestier and Kim Keat Camp at Jalan Rajah and the former Haig Boys' School at Mountbatten Road, said the SLA in a statement today.

Both sites, for dedicated office space, are near MRT stations.

Last month alone, SLA awarded three state properties and opened another two tenders last week. It is also evaluating four tenders to meet the demand for more office space. All these will free up some 90,000 square metres in gross floor area for office use.

The first of the three successful awards is for the property at 3 Shan Road, former Moulmein CC, which SLA awarded to Phillip Securities Pte Ltd. This is also the first community centre to be adapted for office use. Situated just outside the CBD and minutes away from the CTE and town, te site has a GFA of about 2,100 square metres. The tenancy is for three years and renewable on terms up to 2016.

Phillip Securities won the tender at a bid of $35,000 per month. Phillip Securities plans to set up an Investor Centre - its seventh - offering a range of financial services, a cafeteria, seminar/meeting rooms and offices for its backend operations. It expects to commence operations by year end.

Ms Lisa Lee, Director of Phillip Securities Business Development said: 'This is our first time we are renting a State property, as part of our expansions plans to serve the needs of clients.

'We have been actively searching for more locations to expand our scope and client base. We plan to spend between $1 to $2 million for renovation works. Visibility and location of this State property makes it an ideal choice for us. Besides, the open concept design of the building appeals to us as we are adopting a club house concept, enabling clients to drop by to discuss about their financial needs in a comfortable and spacious setting.'

The former CPIB building at 150 Cantonment Road received 15 bids, the highest number ever for a SLA public tender. SLA awarded the site to Bravo Building Construction Pte Ltd, a property development company, at the highest bid price of $91,731.00 per month. This property is on the fringe of the CBD and has a land area of about 7,100 square metres and a GFA of about 4,500 square metres. The tenancy is for three years and renewable on terms up to 2016.

The company plans to spend $3 million to refurbish the State property and transform it into an environmentally-friendly and handicapped-friendly building with wireless network. It intends to sublet units to companies providing products and services related to Integrated Resorts (IR) entertainment.

SLA also awarded another former government building, a former CID Training Centreat at 18 Pearl's Hill Terrace, to Hean Nerng Warehousing Pte Ltd, which put in a bid of $5,300 in monthly rent. The property has a land area of about 1,700 square metres and a GFA of about 790 square metres. It has a hilltop location and is close to a MRT station with many restaurants nearby. The tenancy is up to December 2009.

Mr Kelvin Lim, Hean Nerng Warehousing's Managing Director said: 'We intend to sublet units to companies which wish to expand their businesses or services near the CBD, for their backroom processes at affordable rental rates. They can be financial services firms, securities agencies, consultancy, accountancy firms, legal firms, interior design firms. We are targeting to complete renovations and start business operations by October this year.'

Hean Nerng Holdings currently tenants another State property located at 2 Soon Wing Road.

They company added that they hope to retain the existing uniqueness of the building to attract more interested parties to rent.

SLA is also evaluating more tenders for office use. These properties are the former Bukit Ho Swee CC at Jalan Bukit Ho Swee, former Pasir Panjang ITE at Alexandra Road, 10 Raeburn Park and the former Police HQ at Pearl's Hill Terrace.

Tenders have also opened for a property at 169 Sims Avenue and the former Pei Chun Public School at Lorong 6, Toa Payoh.

SLA's Director of Land Operations Simon Ong said: 'Financial institutions should find our State properties suitable for their needs as they are well located, of the right size, easily adaptable and most importantly, at relatively affordable rentals.'

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