POSTED: 02 Jul 2013 7:28 PM | CNA

SINGAPORE

A 106-year-old property is being put up for tender after being vacant for over a decade.

The black and white bungalow at Gallop Road used to be the residence of a French Ambassador. The house is now a state building managed by the Singapore Land Authority.

The price for renting this 150,000 square foot property is over S$50,000 a month but property analysts said they don’t expect aggressive bids for it.

David Poh, senior director at real estate agency PropNex, said: “Probably, it is launched not at a right time. With such a big plot and quite a high rental when the economy is not really performing that well, I don’t foresee a lot of bids for this plot of land.”

– CNA/fa

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