SLA Got New Tenants For Old Turf Club
Monday, 31st October 2011
The Singapore Land Authority (SLA) after booting out Turf City Management from the old Singapore Turf Club land at Bukit Timah, has awarded the six plots of land to the following bidders: SH Cogent Logistics Pte Ltd, The Blue House Nursery Pte Ltd, Centaurs Group Pte Ltd, Tanglin Rugby Club and WWTBF Pte Ltd. They will be paying SLA nearly SDG $1.3 Million per month in rental from March 2012.
SH Cogent Logistics Pte Ltd will pay SLA a rent of $1,065,678 per month for 178,762 sq m plot of land. The plot comprises of Main Grandstand and North Grandstand - uses capped within GFA of 35,000 sqm: Hypermart, Shop, Clinic, Ancillary Office, Pet Shop, Pet Grooming, Food & Beverage Outlet, Outdoor Refreshment Area (up to 750 sqm), Commercial School, Beauty, Health & Fitness Centre (exclude massage parlour), Furniture Mall/ Showroom, Retail Nursery. Following uses with no cap in GFA quantum: Childcare Centre, Kindergarten, Student Care Centre, Children Nursery, Martial Arts/ Fencing/ Archery School, Sports’ Academy, Sports’ Association, Covered Sports Facility. Main Car Park: Motor Vehicle Showroom including car grooming and car washing service (restricted to 1st level only), Public Car Park, Hill Car Park for storage of cars.
WWTBF Pte Ltd will pay SLA a rent of $47,000 per month for Adventure and Obstacle Courses, Sports Facility (up to 340 sqm is allowed for ancillary sports’ structures – spectators’ stand, changing room - in addition to a maximum of 350 sqm for ancillary golf putting station).
Tanglin Rugby Club will pay SLA a rent of $18,500 per month for Adventure and Obstacle Courses, Sports Facility (up to 340 sqm is allowed for ancillary sports’ structures – spectators’ stand and changing room).
The Blue House Nursery Pte Ltd will pay SLA a rent of $135,689 per month for Blocks 2 and 4
Student Hostel, Childcare Centre, Kindergarten, Student Care Centre, Children Nursery. Store for Storage. Open Field - Adventure and Obstacle Courses, Sports Facility (up to 340 sqm is allowed for ancillary sports’ structures – spectators’ stand and changing room)
Centaurs Group Pte Ltd will pay SLA a rent of $12,444 per month for Adventure and Obstacle Courses, Sports Facility (up to 340 sqm is allowed for ancillary sports’ structures – spectators’ stand and changing room).
In total SLA stand to collect $1,279,311 per month. And that would translated to SGD S$153.5 Million over the next 10 years. As compared to the deal they made with the old tenant, which was SGD $14 Million 10 years ago in 2001.