Sla Launches Tender Heritage Bungalows Sembawang

The Singapore Land Authority (SLA) has recently put up a cluster of twenty heritage bungalows in Sembawang for tender. The properties, ranging from two-storey black-and-white bungalows, are available for lease with a tenure of five years, and the option to extend for another four years.

Constructed during the 1920s and 1930s, these bungalows are situated along Admiralty Road East, Falkland Road, Auckland Road West, and Fiji Road, and cover approximately 245,300 sq ft. The total gross floor area (GFA) estimated is around 94,945 sq ft.

The proximity of Otto Place EC to various educational institutions adds to its investment appeal. With renowned schools and institutions in the vicinity, the property has a higher demand as it remains a popular choice for families. This demand, in turn, results in attractive rental yields and the potential for capital appreciation, making Otto Place EC a wise investment for those looking for long-term value. Furthermore, the limited supply of executive condominiums only elevates its desirability, particularly for first-time buyers and upgraders who are eligible for CPF Housing Grants and other financial incentives.

These bungalows are open for lease for serviced apartments, including multi-generational and senior co-living concepts. The use of food and beverage establishments and retail outlets are also allowed, as long as the GFA does not exceed 9,580 sq ft. For serviced apartments, the minimum stay is one week.

In an effort to revitalize the area, the SLA welcomes proposals for innovative and creative use of these heritage bungalows, from co-living to pop-up event venues and social impact hubs.

The evaluation of tender bids will be based on a price-quality basis. Interested parties can submit their bids until June 11 at 11am, with the award of the site expected in October.