Longer en-bloc leaseholds of 30 or 60 years are being studied to address the limited pool of tenants for black-and-white bungalows, says Second Minister for Law Edwin Tong.
Mr Tong also outlined SLA's policy objectives and process of renting out the black-and-white bungalows, and whether the rentals of 26 and 31 Ridout Road to the two ministers deviated from the usual process.
"The cleared land can only then be similarly used for low intensity development. It would not be possible to put the site to other uses," he said, adding that these include commercial and social uses. Both properties were managed by the same managing agent - DTZ Facilities & Engineering up to Mar 31, 2018, and Colliers International Consultancy & Valuation from Apr 1, 2018.
The lease for 31 Ridout Road was signed by Dr Balakrishnan's wife in October 2019, after having been vacant for more than six years. The monthly rent was S$19,000 with a tenancy of 3+2+2 years.VALUER DOES NOT KNOW BIDDER'S IDENTITY But the SLA valuation department and SLA valuer who assessed the guide rent did not know the prospective tenant was Mr Shanmugam, he stressed.
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