Local construction company Samwoh Corporation has submitted the highest bid rent for a state-owned property at 26 Evans Road. According to the Singapore Land Authority (SLA), the public tender for the property received 25 bids when it closed on Wednesday, October 11.

The public tender of 26 Evans Road was launched on Aug 16 this year, the same day that SLA awarded a heritage property at 79 to 95 Hindoo Road to local construction company Eco-Energy, in partnership with homegrown co-living operator Cove Living.

At the time, the tender for the Hindoo Road property was part of SLA’s efforts to address the high demand for co-living spaces in Singapore from operators and tenants. SLA also encouraged co-living concepts when it launched the tender for 26 Evans Road.

Read also: LHN wins tender for 260 Upper Bukit Timah Road

The property at 26 Evans Road comprises eight different low-rise buildings of three- to one-storeys, as well as 56 carpark lots. The properties, which have a total gross floor area of 69,593 sq ft, will be leased on a 5+4 year tenure.

According to the tender page on the SLA website, monthly bid rents for the property range from $319,000 to $63,000. The tender will be evaluated on price and quality aspects. This means that the quality of the concept and creativity of the proposal will be considered, in addition to the monthly bid rent.

The second highest monthly bid rent of $265,000 was submitted by Cover Projects, a local turnkey solutions provider. Eco-Energy also submitted a bid at $178,000/month, while real estate management company LHN Group, who controls the Coliwoo co-living brand submitted a bid of $165,000.

Another prominent co-living that tossed its name in the ring include TAP Colivings, an entity belonging to homegrown co-living operator The Assembly Place, who submitted a bid of $168,000.

According to SLA, the result of the tender for 26 Evans Road will be announced on Jan 9 next year.