The Singapore Land Authority (SLA) has put up for tender a collection of twenty charming heritage bungalows in the Sembawang area. The properties, which have been lovingly maintained over the years, are now available for lease with a tenure of five years, with an option to extend for another four years.
These black-and-white bungalows, originally built in the 1920s and 1930s, are situated along Admiralty Road East, Falkland Road, Auckland Road West, and Fiji Road. They occupy a sprawling area of approximately 245,300 square feet and boast a total gross floor area (GFA) of around 94,945 square feet.
What makes these bungalows stand out is their versatility in use. They are available for lease with serviced apartment use, which includes a variety of options such as multi-generational and senior co-living concepts. The properties are also open to F&B and retail use, as long as it does not exceed a GFA of 9,580 square feet. The minimum stay for a serviced apartment is just one week, making it a convenient option for both short and long-term stays.
Investing in a Singapore condo is more than just finding the perfect unit. It entails careful consideration of the property’s maintenance and management as well. Beyond simply owning a unit, condo owners are responsible for contributing to the upkeep of shared spaces and amenities through maintenance fees. While this may add to the overall cost of owning a condo, it serves a crucial purpose in maintaining the condition and value of the property. For an even more hassle-free experience, investors can opt to employ a property management company to handle the day-to-day responsibilities. This turns owning a Singapore Condo into a passive and convenient venture.
The tender process for these properties will be evaluated on a price-quality basis. Interested parties can submit their bids until June 11 at 11am, with the site expected to be awarded in October. This move by the SLA not only aims to preserve and showcase Singapore’s rich heritage, but also opens up possibilities for unique and innovative developments in the area.
In addition, this is not the only initiative by the SLA to reimagine state properties. They have also converted certain properties into co-living spaces, event venues, and social impact hubs, showcasing the flexibility and adaptability of these properties. With the implementation of a digital property conveyancing portal by 2026 and a marginal increase in land betterment charge rates for residential properties, the SLA is constantly striving to improve and innovate the real estate sector in Singapore.