The state is offering a row of 13 shophouses, from 11 to 37 Smith Street, to one master tenant as part of a plan for revitalizing the historic Chinatown Conservation Area.

The master tenancy covers a land area of approximately 3,166 square metres, with a gross area of 3,073 sq. m. It is a five-year lease with the option of extending it for an additional four years.

The Singapore Land Authority said that the project will bring more vibrancy to the area and increase footfall, through community programmes, and diverse offerings, such as co-living/coworking concepts and creative lifestyles.

The bids for Smith Street will be evaluated based on price, capex, and the quality and quantity of the proposals regarding the management of the properties as well as the pedestrian mall that is already there.

The long-term plan for the space should include projections of visitorship and financial data.

Lentor Mansion Showflat

SLA said that the pricing will make up 30% of the assessment. Capex will be given a 20% weighting. The quality of the proposal makes up the remaining 50%.

In 2017, the authority issued a similar tender, based on price and quality, for conserved properties located at 26, 28, 30 and 32 Orchard Road.

SLA reported that Temasek Trust was granted a lease for three years with the option to extend it by two more terms of three year, SLA added. The lease is still in effect.

Another cluster of state-owned properties managed by a tenant master includes a lifestyle development at 46 and 58 Kim Yam Road, in River Valley and Orto Park Leisure on 27 West Coast Highway.

Edwin Tong, second minister for law at the time, told parliament that SLA was also looking into the possibility of leasing out some estates of black and white houses for 30-60 years to private developers.

The Smith Street Tender, launched jointly by SLA, Singapore Tourism Board, and Urban Redevelopment Authority closes on February 21, 2024.