26 Nov '12, 3pm

Tender for Bukit Timah Saddle Club site attracts six bids

The state land where Bukit Timah Saddle Club currently sits has attracted six bids since the government put it up for public tender. The tenancy will start next year and end in 2018. And the highest bidder of S$68,850 came from none other than the Saddle Club. This is nearly four times the amount of rent it is paying for the land currently. Responding to queries, the chairman of the Saddle Club’s management committee said the bid price was set following the committee’s “overwhelming desire” to keep the property available for equestrian sports. The Saddle Club has been at the location for 61 years and its current lease expires at the end of this year. If it wins the bid, the committee said it would invest a “significant amount” of money to improve the riding arenas and update its facilities. With half the bids placed above $60,000, one real estate expert said membership fee...

Full article: http://lushhomemedia.com/2012/11/26/tender-for-bukit-tima...

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