A 150,000 sq ft colonial bungalow in the Holland Road area has been launched for tender with a guide rental of S$50,400 per month, according to media reports.
The 106-year-old property was once occupied by the French Ambassador and is now a state building managed by the Singapore Land Authority (SLA). The two-storey black and white bungalow comprises four bedrooms and three maid’s rooms.
Despite its rich history and proximity to Orchard Road, the property isn’t likely to attract aggressive bidding, analysts said.
“It is not launched at a right time. With such a big plot and quite a high rental when the economy is not really performing that well, I don’t foresee a lot of bids,” said David Poh, Senior Director at PropNex.
Source – PropertyGuru – 3 Jul 2014