A TENDER for the former Mee Toh School site has attracted 20 bids from 14 bidders, with the highest bid at $34,600 more than the rental guide.
The highest bid of $103,998 for the building at Race Course Road came from Cambridge Institute which wants to develop it as a commercial school, the Singapore Land Authority (SLA) said on Tuesday.
Cambridge Institute also put in two other bids for the property at $90,998 and $50,000.
The second highest bidder is Cambridge Hostel Management which proposed to develop the property as a student hostel. It put in a bid of $83,889.
The tender for the property was first launched under the Ideas Tender Scheme last December.
The scheme was launched by the SLA in August 2005, and allows entrepreneurs to suggest innovative re-use ideas for a building, instead of being hemmed in by the pre-approved uses specified by the SLA.
The Race Course Road property has a gross floor area of 2,650 suare metres and is being offered on a three-year tenancy, with an option to renew for another two terms of three years and two years respectively.
The SLA on Tuesday also launched another former school at Hu Ching Road for open tender at a guide rental of $61,200.
SLA said it has received about 12 enquiries on the property.
The building, located bside Jurong Secondary School, has a gross floor area of about 4108 sqm. It can be developed into an office, commercial school, foreign system school among others.
It will be offered on a three-year tenancy initially, with an option to renew.
