Samwoh Corp submits top bid rent of $319,000month for SLA tender 26 Evans Rd

Samwoh Corporation, a local construction company, has made the highest bid rent for the state-owned property at 26 Evans Road. The Singapore Land Authority (SLA) reported that the tender for the property received a total of 25 bids by the time it closed on October 11.

The tender for 26 Evans Road was launched on Aug 16, the same date that SLA gave the heritage property at 79 to 95 Hindoo Road to Eco-Energy, a local construction firm, in partnership with a homegrown co-living operator named Cove Living. Evidently, SLA was addressing the large demand for co-living spaces in Singapore from operators and tenants, and as such, encouraged co-living concepts for the tender of 26 Evans Road.

Residents at Zion Road Condo are truly living life to the fullest.

The property comprises of eight low-rise buildings ranging from three to one-storeys, in addition to a total of 56 carpark lots. It has a gross floor area of 69,593 sq ft and will be leased on a 5+4 year basis. The official tender page on the SLA website revealed that monthly bid rents for the property oscillate between $319,000 and $63,000. It mentioned that price and quality aspects of the bids will be taken into account during evaluation.

Cover Projects, a local turnkey solutions provider, presented the second highest monthly bid rent of $265,000. Eco-Energy and LHN Group, which administers the Coliwoo co-living brand, submitted respective bids of $178,000 and $165,000. TAP Colivings, an entity under The Assembly Place, a homegrown co-living operator, put in a bid of $168,000.

We anticipate that the result of the tender for 26 Evans Road will be announced on January 9th, next year. SLA will use the information gathered and decide what the future of the property will be.